Find a niche for your small business and gain a competive edge –

Years ago, I had a client who was an interior designer. When I asked which customers she was targeting, she said, “People moving from their starter homes to a bigger house, people moving from a bigger place to a smaller house, people moving into their first homes, even those moving into apartments.”

“In other words,” I responded, “everyone who lives indoors?” Like most small-business owners, she was making a critical, but typical, mistake — she wanted to serve everyone. After all, why not have every possible customer you can?

In fact, you can often be more successful — have more customers and charge more — if you narrow your focus. You’ve got to know your market, and by narrowing your market — choosing specific customer segments or niches — you make the most of your resources, and you create a clear distinction between you and your competitors.

Interesting concept for a small business.