Focusing on one business niche

[Chumzy]

The beauty of focusing on one business niche is enormous. It gives young businesses a chance to really compete and win. You carve out a niche and then you give your best shot to satisfy that niche.

 

[Oliver 20]

A business niche is a specific or centered region of a more extensive market that organizations can serve to separate themselves from the opposition.
Entrepreneurs should discover a niche in their industry that has underserved or neglected necessities.

 

[Eyiteepraise]

I don't think focus on one business niche is not really a good deal. It is better to focus on different and numerous business niche so as to have alternatives in case one crashes, others will keep standing

 

[Blessedsam60]

Focusing on one business can be advantageous and can also have it's own disadvantage. Many people have cast all their energy on a single business and sometimes doesn't favour them. But diversifying is the best as it makes you have multiple sources of income.

 

[Ralphjoe]

I couldn't agree more with you, it is very essential that an entrepreneur focuses on one branch of a business especially at the very start of his business so that he can concentrate on that one and build it to good success before he can think of setting up another one in the future.

 

[Fabby]

When you focus on one customer base, and you are aligned closely with that customer, you can truly resonate with them and build trust. Customers can feel your authenticity and the focus results in a bond.

Oppositely, trying to appeal to several types of customers can create disconnect. If you aren't truly aligned with a customer, or truly know their experiences or interests, then they will detect your insincerity. Also, claiming to be an expert in many things can dilute your message. It's not possible to be an expert in multiple things, and this creates doubt.