Post 2-Developing a Niche Market

As we discussed in class and read briefly about in the “Top Tips for Social Entrepreneurs, creating a niche market is key for success. One question I’ve faced in developing my niche market is how small should this market be (i.e. what does “small” mean/is it possible to be too small)?

An interesting article I found called “7 Steps to Defining Your Niche Market” (https://www.entrepreneur.com/article/240163) has helped me define my niche market.  It didn’t completely answer my question above, but has helped alleviate some of my fears associated with making a small niche.  The author of the article quotes Lynda Falkenstein, an author specializing in finding niche markets, “smaller is bigger in business, and smaller is not all over the map; it’s highly focused.” I’m someone who, in my ideas/solutions, likes to go big and solve the whole problem rather than something smaller, more realistic and easily implemented.  I also found this article helpful as it reminded me that the field and my niche are different; “your niche isn’t the same as the field in which you work” (https://www.entrepreneur.com/article/240163).

Are you someone, like me, fighting the urge to be “all over the map?” (Which the article defines as someone “claiming they can do many things and be good at all of them”) (https://www.entrepreneur.com/article/240163).  Do you have a niche market size in mind and how "small" (or specific) are you aiming for?