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Riches in Niches
Most of us have heard of this phrase at one point or another, but for those who are not familiar, here is an explanation. This phrase means that it is better to focus on a specific product or service and perfect it. This idea goes against conventional theories such as, "not putting all your eggs in one basket" but in the world of business, there are indeed riches to be found. Focusing business effort vertically rather than trying to compete with others in every facet can by itself make your business stick out. Say that you run a standard restaurant and instead of offering the same things as a competing restaurant down the street, you decide that you will focus on your specialty dish. You put the majority of your marketing and other business efforts into making you "the" place to get that dish, and once you do that, you have successfully created a uniqueness to your business to make you stand out.
Deep seeded connections
Once you discover what it is that makes your company what it is, you need to keep it that way. Businesses are challenging to start and even harder to maintain. Getting the customer to like your good or service is just getting your foot in the door. A lot of businesses can offer a singular good experience, but the companies that can maintain a consistent level of satisfaction are the ones that develop a deep value in the minds of the consumer. Aside from continued business made, the established value allows you to be involved in the interpersonal conversations between customers, exchanging testimonials. Those testimonials go farther than paid marketing ever can because they are the most sincere form of promotion, and if your company can generate those conversations, they can take you bounds and leaps farther than other tactics.
Conclusion
The world we live in today is jam-packed. Companies are filling up gaps in markets every day, and with the help of technology, they are making gaps that were not there before. Knowing how to make yourself unique and memorable is just one way for you to survive in this wild jungle, we call the marketplace.
