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- Define Yourself- Finding your Business Niche
- Defining your Business – Branding
Did you know that you are your business? So, next time someone asks who you are, your business is you! In this article, we will split it into two aspects. The first part will portray us trying to define ourselves. Invariably, we mean finding our niche in business.
Consequent to finding and defining ourselves, we will define our business by learning about business and personal branding styles.
There is a lot we will say in a not-so-long a post. Stay with us.
Define Yourself- Finding your Business Niche
In order to build a Personal Brand for yourself, you need to know this truth: Who you are speak even louder than What you do.
The truth is, people, gravitate towards people. There are many entrepreneurs out there with better innovations than you can have and will ever have, don’t take this as an insult, it is a basic truth.
Yet, people will patronize the business of your personal brand- that is you! You are able to give what you do more color, depth, and expression. They are just in love with what you represent.
Remember we promised to simplify the post. Still in that queue, here are the simple steps to finding your niche:
#1. Identify your interests and passions
Make a list of things that interests you and you are passionate about. This is because there will be challenges and only passion can keep you going especially as a first-time entrepreneur. Moreover, if you don’t care about the topic, you may not be able to find the drive within to persevere.
Some helpful tips
- How do you like to spend your free time? What do you look forward to doing when you aren’t doing it?
- Which topics do you like to learn about most?
- What organizations or social clubs do you belong to?
#2. Identify problems you can solve
We are going to limit these to bullet points that can help achieve problem identification you can solve.
- Make a research on your target market. Go to your target market, ask questions that will help you uncover pain points.
- Search online and offline forums. Search Quora, or find forums related to your niche, then take a look at the discussions that are taking place. Likewise, what questions are people asking? What problems do they have?
- Research keywords. Research different keyword combinations on Google Trends and Google AdWords’ keyword planner. This can help you get popular search terms related to those pain points.
#3. Research your competition
To be able to effectively compete with your competitors- those already in the niche you wish to join, search for;
- Low-quality content. It’s easy to outrank your competition in a niche where other business owners are not creating high-quality, detailed content that serves the audience.
- Lack of paid competition. If you’ve found a keyword that has relatively high search volume, but little competition and paid advertising, an opportunity definitely exists for you in that market.
#4. Determine the profitability of your niche
By now you should have a pretty good idea of what niche you’re going to get into. At this point, it’s important to get an idea of how much money you have the potential to make in your niche. Asides passion, money is another motivating factor.
Also, keep in mind that you don’t have to start your business with a new product of your own. You can partner with product creators, advertisers and site owners in your niche to earn commissions while you’re working on your unique solution.
Read about Ways to Attract Investors in your Business
#5. Test your idea
You are now armed with all of the information you need to choose a niche, and the only thing left to do is test your idea. One simple way to do this is to set up a landing page for pre-sales of a product you’re developing. You can then drive traffic to this page with paid advertising.
Defining your Business – Branding
#1. Identify your specific audience
The kind of audience or market you expect as an entrepreneur will determine the way your business will be structured.
Ideally, the ultimate goal of branding is getting your target market to see you as the only one that provides a solution to their problem.
As a start-up, you will need to know your target audience, what they want, and how they want it.
This is not something that happens overnight but also takes time to win your customers’ trust and time to communicate clearly to them the character of your business.
#2. Establish business processes
We have already established that you research your competition. That will be helpful here.
Before establishing your business process, make it upon the bedrock of your uniqueness.
It’s important for your brand to be different from other similar options available to customers. Of course, your brand experience will ultimately differentiate you, but being unique starts with deciding what attributes set you apart from others. Your goal is to be different and better than your competition.
#3. Record key business resources
I hope we know that business resources are not just limited to funds?
List out what you are especially good at and what you want your customers to think of when your brand comes to mind. Your unique set of skills will form the basis of your brand definition.
#4. Develop a strong value proposition
Develop ways to do or say things that are unique to your business alone. This positions your business or personal brand as distinct from your competitors. In the long run, it will define you and your business.
It could even be your marketing or advertising strategy, for example, using animations, cartoons. Just about anything you can think of that will set you apart and make you remembered by your customers.
It is those brand resources that you develop into values.
#5. Determine key business goals and partners
When creating a business model, select key partners, like suppliers, strategic alliances or advertising partners. This will reduce costs and boost your visibility. Create a system to generate demands for your product and how your customers will notice you.
After discovering them, Stick to your brand specification. Don’t be the ultimate tester of new strategies. Get one and focus on it.
#6. Be Consistent
If you want to know what speaks volumes when it comes to Personal Branding, here it is: BE CONSISTENT.
Consistency is how you discover your voice, your style, your habits. Consistency is how you define yourself. It is how you grow.
Consistency is also how you build loyalty, how you create suspense. Consistency is how you attract more and more people and build a true followership
Be it across your social media platforms, business models, be consistent.
#7. Leave room for innovation
Innovation is the key to sustainability. After all, until you begin to have customers, you don’t truly know if your business model will meet their ongoing needs.
For this reason, it’s important to leave room for future innovations. Don’t make a critical mistake by thinking your initial plan is a static document. Instead, review it often and implement changes as needed.
In conclusion, many would have expected the normal pieces of writing we see everywhere on the net that says create a logo, have a personal statement et al. Those are helpful tips but will not do justice to the topic, how to define yourself and your business.
We are committed to bringing relevant information to your staples. For this reason, we employ you to be consistent in visiting our page for other helpful tips.
We look forward to seeing more of you! Cheers!