Niche to Survive: 3 Important Things You Must Know and Do in Your Network Marketing Businesss
by Susan Friedmann
Do a search on Google for the term "niche to survive" and you'll come up with advice from industry pundits and freelance journalists, to machine tool manufacturers, travel agents to wine makers, booksellers to banks, and many more. They all preach the same message-to make it in today's tough economy, it's a survival of the most niched!
But what does this really mean? It means that you can't afford to ramble around your network marketing business trying to be all things to all people, grabbing any customer that comes your way, simply because it pays bills.
Let's look at three important things you must know and do to survive and thrive:
1. Be Courageous
The generalist network marketer needs the courage to don the mantel of the specialist, which means being an expert in your business. This sounds easy enough, but people often shy away, and fear taking on this essential role. Why? Because being an expert in a niche market means that people turn to you for thought leadership-help, advice, innovative ideas, and more. They want answers, and they expect you to have them. It's much safer playing the generalist game, where you can get away with knowing a little about a lot of things. Generalists are a dime a dozen in any network marketing business. However, specialists stand out from the crowd with their expertise.
2. Be a Voracious Learner
Being a specialist in a niche market includes staying abreast of anything and everything that concerns your niche. Some networking businesses, such as hi-tech, move at the speed of light (or so it seems), while others, such as beauty products, appear to crawl along at a snail's pace. Wherever your niche lies on the change spectrum, your job is to constantly be in the "know." This means reading, learning and constantly finding the best solutions for the challenges that your niche market faces. For example, if your niche industry is governed by certain governmental legislation, and these change for better or worse, what questions or concerns will your niche market face? As an expert and thought leader in the industry, people will turn to you for answers.
3. Be Discerning
An important characteristic of any specialist is the ability to be discerning. To be discerning means being insightful, making careful judgments and evaluating all options before taking action. The more you know and understand about your niche market, the better able you are to discern the best course of action for your customers.
In today's marketplace, your customers are faced, almost daily, with an onslaught of new and shiny gizmos, gadgets, software and more, that claim to solve their every need. As an industry expert, you have the power to recommend resources. However, realize that everything you advocate to your niche market carries your reputation. If you suggest a program that helps your client, you're seen as a savior, but endorse something that doesn't work, and your credibility can suffer, and your "golden child" status can plummet overnight. Once you make a bad referral, your niche market will think twice about taking your advice in the future.
It takes courage, learning, and discerning to be the expert in your niche market, but where there's risk, there's reward. Get rich in your niche!
If you're ready to discover more practical, easy-to-use- techniques to develop and implement a successful, niche marketing strategy for your networking marketing business, sign up for my webinar on October 19th:
The Road Less Traveled: 7 Keys to Separating Yourself from the Competition
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