via CPA Trendlines
Small businesses are not a niche.
Professional services are not a niche.
Individuals are not a niche.
Mid-size businesses are not a niche.
So why are these the top four “niches,” according to a survey of accounting firm owners? It must be because most of them don’t understand what a niche is.
In short, a niche is a small, specific, and well-defined audience with unique needs, preferences, or characteristics.
None of the four categories above are small, specific, or well-defined. But more importantly, none of the businesses or individuals in these categories would self-identify this way.
For instance, if you asked me to describe my business, I would never start by describing myself as a “small business owner.” I’d say that I lead a continuing education company.
Similarly, if you asked the medical spa owner what she does, do you think she’d say she runs a professional services business?
When you niche, use the same labels as your customers to establish yourself as their expert.
Research the conferences and online communities where your clients are active to find out the labels. Use their terminology if a community is already built around the niche.
Then show up and be helpful.
