How niche is too niche? 2 ways to "un-niche" your business

Imperfect Action

Is it really true that the riches are in the niches—and that the smaller the niche, the better? There may be times when your business could benefit from accessing a larger niche. So, in today's episode, I am sharing how you can know that it's time to "un-niche" (go broader) in your business.
- The importance of understanding your total addressable market and where you business is positioned within that.
- Why having a bigger market is not necessarily better (unless your business outgrows a smaller niche).
- How having a really specific niche to start with can help you to make those initial waves.
- Why your niche *will* inevitably change over time and how to navigate that.
- The relevance of market demand and its role in expanding your niche.
- How un-niching your "who" (upstream, downstream and horizontally) as well as what you sell can help you to serve a broader audience.
SHOW LINKS:
- Episode #785: Strategies for identifying your niche (+ 5 red flags if you’re off course). DM me “785” on Instagram (@stephtaylor.co) for a direct link.
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