Business Strategy: From Niche to Execution
Search "market niches 2024" on Google and you'll get millions of impractical results. The dilemma: you want to grow without losing what makes you different.
Cautionary tales: what not to do
Brands that failed by moving wrong:
| Brand | Failed move |
|---|---|
| Kodak | Fell behind in digital photography |
| Colgate | Tried to sell lasagne |
| Pepsi | Clear cola without caffeine |
| Harley-Davidson | Cologne that smells like petrol |
| Cheetos | Orange lipstick |
Nobody wanted to smell like a motorbike or have their lips the colour of their fingers.
Growing in the right direction
67% of companies understand that concentrating all resources in one segment isn't strategy. Markets shift. They need constant attention.
Brands grow and change
Think of it like childhood. As you get bigger, new operational challenges emerge: contracts, staff, management.
Are you ready to expand your niche?
Don't chase every trend.
Stay true to your brand identity.
How to build a growth strategy
Look at where you've been. Imagine where you're going. Do you keep growing in this niche or shift course?
Getting it right: how to stay on track
1. Analyse (seriously, four times)
- Study your current audience, what they need, what's missing.
- Identify what makes you different.
Bias is stronger than knowledge. You're probably seeing the data you want to see.
2. Watch trends, but don't marry them
Does this fit who I am? Absurd example: tech auditors posting about influencer weight loss.
Your essence is what matters.
3. Look at competitors, don't copy them
See what works. Adapt it to your voice.
Copying looks like the easy path now. Long-term, it costs you who you are.
4. Diversification comes from…
Not "eating from every plate". Example: bike shop → bike parts, repairs, electric bikes. Not scooters or cars.
Diversify with your head.
5. Baby steps to the goal
Test, measure, adjust, scale. Don't spend your whole budget without testing first.
6. Go deeper into your niche
Look for gaps within your segment before you jump to something new.
7. What about crossing borders?
Global expansion in your niche. Be a reference internationally, not just locally.
The point
Grow your way. But grow. Move forward the way you should, not the way your gut tells you.
CTAs
- Form "Ready to start?"
- "Book my appointment" → 30-minute networking call