Finding a Niche and Developing a Unique Selling Proposition

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Finding a NicheandDeveloping aUnique Selling
Proposition
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Most small-business owners dive into their
niches because they love the product or service
they provide. The annals of small business are
filled with the tales of founders who cared so
deeply about their product or service that they
subsequently decided to make it their lifes work
so they could enjoy getting up in the morning
again. - our text
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What is a Niche?
In biological terms, a niche is defined as a
small ecological space in which an animal can
find ample resources to survive, with few
predators or competitors. A niche can also be a
place that has not seen a kind of animal before.
The island of Mauritius, for thousands of years,
saw no humans, rats, or other kinds of
ground-dwelling predators. A breed of flightless
bird evolved to take advantage of the safe,
food-rich niche on the ground that other birds
had neglected. This bird was the dodo.
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A Niche can be based on

• A new product or service.
• A new product or service in a particular area.
• A change in a particular product or service to
• focus on a sub-group of customers.
• An existing product or service, but in a new
• area.

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Niche examples

• Heatless soldering.
• Chem-dry carpet cleaning.

• A new product or service. Heatless soldering
• A new product or service in a particular area.
• Chem-dry carpet cleaning
• A change in a particular product or service to
• focus on a sub-group of customers.
• Kalani Coffee
• An existing product or service, but in a new
• area. Espresso Stand in Houston

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Finding a NicheValue Chain Analysis
Value Chains are a visual depiction of an
industry from producer to consumer. Coffee
business Farmer gt Wholesaler gt Roaster gt
Retailer gt Customer So what are some possible
places where we could enter the value chain?
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Life of a Chair
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What is aUnique Selling Proposition?
Its what makes us stand out from competitors
within our niche. The search for a niche is
connected to the unique Selling Proposition
because often it is the USP that provides the
feature that makes us different or unique that
lets us slip into an existing niche easier, or
that helps create a whole new niche.
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Examples of the Unique Selling Proposition

• 30 minutes or less
• Pay me now, or pay me later
• Oil change in 20 minutes.
• 60 minute tune up.
• 7 11
• 24 hour fitness
• 90 days same as cash
• Rent to own
• Organic
• Unfinished furniture.