Why is running a small micro-niched business better than being Jack of all Trades?

[Min George]

A small micro-niched business seems to be the main thing now. And people say it is the best way to go. Is it really the best way for a business to be micro-niched?

Does it mean that selling general goods is no longer fashionable?

 

[eLdavis]

Selling general goods is still fashionable, it's just that when you are focus on one in particular, it gives you enough room to grow.

 

[King Belieal]

Selling general goods is still fashionable, it's just that when you are focus on one in particular, it gives you enough room to grow.

True this. Having to handle inventory for multiple products is a huge task on its own. Not to talk of the other aspects of managing the sales of multiple products.

 

[Nomad]

It is somewhat easier to build targeted traffic on niche stores compared to general stores. It is also easy to promote niche store as you know who your audience is.

 

[kit_hung]

A small micro-niched business seems to be the main thing now. And people say it is the best way to go. Is it really the best way for a business to be micro-niched?

micro niche business can be big way to start because it targets a small group with specific needs and the competition is low. The advantage building customer loyalty and the opportunity to dominate a small market. However, the challenge that growth can be limited and if you misunderstand your customers, the business can fail.

 

[Augusta]

Having a niche allows a business to become an expert in a particular area, differentiate itself from competitors, be more cost-efficient

 

[Nomad]

However, you also need to become aware that there is a comparatively smaller market for micro niche and selling might be harder.

 

[kit_hung]

Having a niche allows a business to become an expert in a particular area, differentiate itself from competitors, be more cost-efficient

Also I target small group of clients to gain high-quality expertise that reduces unnecessary costs. This step sets me apart from others while quickly increasing profits.

 

[Fidelia]

People would appreciate your authenticity in serving a small market and you would be a reference point for that market.