Monday, August 1, 2016

Finding your niche market

What do entrepreneurs to in order to provide a product or service? They find a niche market. Koreans don’t have afro textured hair; nevertheless, they control 95% of the Black hair care market. What are you doing to find and service a niche market? Here are seven steps to make it happen:

1.      Know who your target audience is. i.e Jamaicans in the diaspora have different socio economic experience that yardies on the island. What does each group need?

2.      What is your passion? The end product will be reflective of the journey. i.e. would you like to open a salon? Where will it be located and how will the interior look to appeal to your client.

3.      Don’t be a Jack of all trades and a master of none. You will become discouraged if your plate is too full. Do baby steps, walk then run.

4.      Create something that is unique to you. We are all snowflakes; therefore, be an individual not a group. Stand out from the crowd. If what you are offering satisfies a political or an economic need, people will pay attention to you and they can’t notice you of you are like everyone else.

5.      Build trust through integrity. Follow through and don’t say one thing and do another. Create a trust factor with your audience.

6.      Invest in yourself: read, upgrade, care and time. Need I say more?

7.      Be a global thinker. Where are larger markets for your product or service?  i.e. Jamaicans are all over the world and reggae music is played on every continent.