Five ways to find your business niche and dominate it
More than 10% of working Australians are self-employed, but it’s notoriously hard for them to get a home loan.
As a self-employed person myself I saw what a massive gap this was in the mortgage market. So in 2019, we changed the game and launched Rate Money, now we have 33 franchises across Australia.
For any entrepreneur who wants to start a business AND make it successful, you first have to level the playing field. This means finding your niche and excelling at it.
Easier said than done and not every niche is lucrative!
But it’s not impossible.
I shared my top 5 tips on finding the gap in the market, and turning it into a successful business with SmartCompany.
“Going up against the big players in any industry can be a daunting prospect for startups and small businesses, but there’s a secret to levelling the playing field: specialising. The more niche your business, the easier it is to redefine your unique selling proposition in a narrower field. It’s the magic of making yourself look like a bigger fish in a smaller pond.
Not every niche is lucrative enough to sustain a business, however. So how do you go about identifying gaps in the market that might be worth pursuing? Here are five boxes to tick when you’re on the precipice….”