Positioning your business for growth purposes

For every business owner, achieving a success rate at which his product becomes a household name is one of the foremost tacit aspirations. Expectedly, a business should be established for the purpose of meeting a particular need, either product lack or a service gap. To fulfill such a purpose acceptably to the level of becoming the biggest brand in service provision or product making remains every entrepreneur‘s vision. Beyond being known locally, if a product or a service from a business organisation should cross the nation‘s boundary in terms of recognition, then the business and the owner would be deemed to be very successful. Of course, this dream never comes to manifestation for millions of businesses as a result of several reasons and obstacles. But amidst the obstacles, some still manage to distinguish themselves from the competition. If you aim at reaching the moon, you can still get to the sky, if the moon becomes impossible, says the old aphorism. In this light, business growth experts say creating a niche for business offering(s) by an organisation can make a business outshine its competitors, even if its scope remains small – as the case is, usually, with small and medium scale businesses.

To business development experts, since there are often many organisations dealing in similar or the same line of business, there is the need for every growth-focused organisation to differentiate its business from the available competitors.

Creating a niche in any business is important generally. But it is more important to do this where that kind of business is widespread; the need to stand out from the rest becomes essential. Niche creation is always at the heart of every successful industry, business, product or service.

How does distinction or niche creation come to be associated with a product or a service from a business organisation?

According to ezinearticles.com, “Niche creation is what builds industries, businesses and jobs.”

The website adds that having a niche is the only way to eliminate direct competition.

“The key to successes in any business is creating a niche; then it will be difficult for competitors to rival or overshadow the business or its offerings,” it says.

According to George Rodriguez of PowerHomeBiz.com, ”The best approach for a small business (to adopt) is to focus on untapped or unique niche opportunities.”

He says this clearly makes sense as it is easier to attain success if a small business venture focuses on a more specific and smaller area of its target market, especially during its start-up period.

The Managing Director, Exquisite Designs, Mrs. Aniefiok Umoh, says it is important to creat a niche by determining the approach one wants to pursue.

She, however, notes that deciding the business approach depends on a number of prognostic factors. For instance, she says it is necessary to settle questions, like: What service lines do I want to offer? What types of customers do I want? Do I want to adopt a combination providing certain types of services to select clients as well as servicing broad-level clients at another level but all in the same business?

She says, ”It is important to get a clear idea on exactly whom you want to serve, your market and what you want to do for them.”

Umoh stresses that it is also important to define one‘s unique position on the field. According to her, one needs to identify and be able to show what makes the business different from those of the competitors.

”Always stress the use of these advantages in your marketing efforts. Avoid the generic trap, where potential customers see your business as just one of those small business sites,” she advises.

After creating a niche for the business, what next? Experts believe that creating a niche for your business does not stop there; one needs to create visibility. Or what good end does it serve if the created niche in the business is not known?

There is the need to let current customers and prospective ones know what unique selling points the business has got to offer, different from its competitors.

It is important to let the customers know that the niche offered by the business is exactly what they need, especially what they have been looking for.

A proprietor of a hairdressing salon, Perfect Fingers, Ms. Omobola Akintayo, says niche creation helps a business to fill customers‘ needs that were not met before now.

For instance, she says because of the widespread proliferation of the hairdressing business, one needs to target specific people with specialised needs.

”It is important to do this, and creating a niche provides specific customer needs that have been ignored, overlooked or neglected by the competition,” she adds.

According to ezinearticle.com, ”The highest paying skills are the ones that focus on a niche segment of their market, rather than the mass market. People, who specialise are paid the most.”