When you look up the word niche in the dictionary, you’ll find it defined as “a situation or activity specially suited to a person’s abilities or characters.” However, that isn’t the only definition you’ll find. Niche can also be defined as “any steep shallow recess or concavity…”
It’s funny how one word can take on two such distinct definitions. One has the positive association of something you’re especially good at, while the other is steep and shallow.
“What type of niche do you serve?” When someone asks you that about your business, do you know the correct answer? It would be easy to assume that your niche is “specially suited to [your] ability.” But you might be wrong.
Often, businesspeople mistake a niche for a rut. They are unable to escape the ruts that they have embedded their businesses in. And they feel compelled to stay in those ruts, whether they lead them in circles or into straight, narrow paths. Their idea of a business cycle is one that starts and finishes at the same point each time.
The successful businesspeople don’t allow their businesses to fall into “any steep shallow recess.” They recognize that in order to maintain the “right” niche they have to keep taking different courses – avoiding the ruts. They have to reinvent themselves continually while serving their niche market.
As a profit pioneer, you should not be content to follow one path only. If your wheels get stuck in the ruts of your business cycle, find the niche that best suits your unique talents and “abilities.”
Success should never be “steep and shallow”