Five ways to find a niche

1. Know Your Market.

This is an obvious point to any seasoned business mind. But in this got to get money quick business climate, tons of otherwise intelligent people overlook and trip over this small detail. Nothing takes the place of research, not education, not money, not even experience.

2. What Can You Add or Expand Onto What the Market is Already Providing?

Look at your market with an eagles eye and look at what you can add to increase the value to your target market. For example, once upon a time gas stations just sold gas until someone introduced snacks. Candy bars were made only with chocolate until someone decided to add nut, caramel, even marshmallows. Get the idea?

3. Can You Add A Personal Touch?

With so many companies trying to be all things to all people , the company that can offer a personal touch will stand out in a competitive market. Find ways to customize your product or service to your target customers personal needs. With so many products similar to one another, this is an area where you can separate yourself from the boys and the also rans.

4. Make Something Easier For Your Customer.

Can you make some aspect of your product easier for your customer to order, use, maintain or update. People hate hassles, complications or even having to think too much. Anything you can do to make a process easier than your competition will win you customers and profits. Try it.

5. What Can You Do That Your Competition Hates To Do?

This is one of the most overlooked areas to beating your competition. This tip instantly works to level the playing field no matter how much small you are. Simply find out what your competitors or customer hates doing, and offer to do it for your customer. Believe me if you make this offer enough times you'll soon have more business than you can handle.

With money and credit tightening by the hour, it's essential that you find ways to compete better. In this business climate, those who survive will be the ones who thrive on competition not run from it. By using these five tips you'll have the tools to confidently run toward the competitive markets, where most of the paying customers stay. Yes, while others run from competition, you now have the knowledge to finding a niche in a highly competitive market. Congratulations! Now get to work.