Is it OK to be a leader in a niche ? Dare to be better ? OK !

Is it OK to be a leader in a niche ?

Targeting a niche almost always seems like a winning strategy. There is always a temptation to carve out a niche when any category matures or seems to be growing well.

However, just because you have identified a good niche does NOT mean that it makes a good business case, no matter how sharply defined that niche is.

Often entrepreneurs make the mistake of getting excited about playing in a niche, and assuming that they can be leaders in that niche simply because they are super-focused ONLY on that segment. The truth however is that just because you focus on a niche does not mean that others who service broader segments are not at least as good as you at servicing that niche as well.

Focusing on a niche makes sense only if that niche represents a fairly large market. Also, if servicing the niche helps you build competencies which can be leveraged across a broader segment, there is really no merit in building a ‘business case’ around that niche, though you could have multiple brands targeting different niche segments with the common competencies deployed across all the segments.

About the author :

Prajakt Raut

Helping startups and early-stage companies build sharper business plans and businesses.

I am a entrepreneur and entrepreneurship evangelist. My personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs.

I help startups understand the dynamics of business, and assists them in developing meaningful business plans. I mentor startups on strategy, business model & monetization, fundraising and on preparing the company for growth.

see more : http://thehubforstartups.quora.com/Is-it-OK-to-be-a-leader-in-a-niche-1

Dare to be better ? Ok !

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