3 considerations in finding your niche.
Finding your niche is a challenging endeavor especially when you do not know yourself that much. Therefore, knowing yourself is an important step in finding your niche. It is like going to a recollection or a retreat that guides you in discovering yourself.
Know your interests or passion
What do you like doing the most? Do you find joy in what you are doing? These are obvious questions that you need to answer in finding your niche. Sometimes we are faced with so many interests but I believe there is only one that stands out—your passion. My passion, for example, is teaching. Yes, you read it right! I am a Certified Public Accountant in the field of academe. This occupation does not seem to be “work” for me. I have not cursed Mondays since I started teaching. I think the “litmus test” of your passion is the “Monday Cursing.” If you find yourself not anymore “cursing” Mondays then it is most likely that you have found what you love doing and that becomes your passion.
Are there problems that you can solve?
Many entrepreneurs leverage on this. They seek for problems and try to find for solutions. My unsolicited advice to you is to seek for problems and help find solutions through your niche. A TV reporter may not be an expert to a certain problem, but because he/she was able to announce it over the television, he/she became a bridge to the solution.
Do you know your competitors?
If you want to monetize your passion, it is best that you also try look at what your competitors are doing. It is not necessary that you exactly copy what they do. By knowing your competitors, you will be able to find out the markets which they have not yet tapped. Moreover, you will be able to discover their suppliers both for ingredients and packaging. Knowing your competitors is essential to pricing your products or services.
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