As an entrepreneur, you’re likely to want one key thing from your business: profit. To achieve this, most of the entrepreneurs I meet believe one thing:
To sell as much as possible, you have to reach as many people as possible.
However, although this theory might work for businesses like Apple, Airbnb and Uber, unless your business is indispensable to your audience, it’s likely not going to be a good fit.
So, unless you’ve invented the new iPhone, or created a service people truly can’t live without, you’re out of luck.
The sad truth is that for 99.9% of the services and goods on the market, only a small portion of that market is going to be interested. If you aren’t willing to understand and accept this, you’re taking a huge risk that could kill your business.
Believe it or not, though, solving this problem is easier than you might think.
You need to pick a niche.
In this article, I’m going to give you 4...