ADVERTISEMENT
The Sun Nigeria
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
  • The Sun Foundation
No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
  • The Sun Foundation
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Home Columns

How to develop your niche

14th July 2017
in Columns
0
rivalry
Share on FacebookShare on Twitter

This third and concluding part of my articles on the Niche series became imperative when some readers started to ask how they could develop their niches, either as individuals or as business owners.

Of course, like I said in a previous article there’s no closing the book on any subject; questions would always be asked. Let me answer the pertinent questions on niche development today and move on to other subjects from next week. I hope that, in the near future, we’d be able to deal in greater detail with all subjects relating to Niches in a full-blown seminar.

Now, the question: How do you develop your niche as an individual? The approach is not different from any personal development process. You begin by studying the lives of people who have your kind of niche, or who have carved a niche for themselves in any field and succeeded brilliantly.

Again, let me use the example of soccer. If you are a footballer and you want to carve and develop a niche for yourself as a “free-kick specialist”, study players like David Beckham, Jay Jay Okocha, Roberto Carlos, Lionel Messi, Cristiano Ronaldo and other icons of the game who are famous for taking set-pieces.

These players are dreaded by opposing teams when it comes to dead-ball situations. At dying minutes when games are deadlocked, they are known for scoring that crucial penalty, corner kick or free kick that decides the outcomes of matches.

Watch their videos, study their methodology, life styles; read their biographies and autobiographies to see how they achieved greatness. Since we also learn by imitation, their stories could inspire you to succeed in your own niche. This is a template that could be used by anyone to develop their niche in any area. Study the icons of that field.

Another way to develop a personal niche is through mentoring. You can submit yourself to a mentor in your chosen field, who is well respected as an achiever, to mould you into a winner like Jesus did with His disciples. Learning under a mentor; a practical apprenticeship, is something that no other form of tutelage can beat.

There are numerous training programmes and sandwich courses like seminars which could develop your knowledge and help you improve your niche considerably. You have to keep on studying, reading relevant books, updating and improving your skill and knowledge to be a success in any field.

Finally, I recommend continuous access to streams of information on your area of specialization through reading of professional journals, surfing the internet, reading newspapers, research, interaction with professional colleagues and constant practice. That’s how you develop your niche.

In the case of a business person seeking to develop a niche market, the approach is similar, with few adjustments. Mentoring do not work in the competitive environment of business. All businesses are rivals. However, to develop a niche market, you could study the methods of Mercedes Benz and Rolls Royce, in the luxury car segment for instance, because they have succeeded in holding their markets for generations despite fierce competition from rivals.

The Diamlier-Benz Group has expanded its luxury auto range to include the coupe, for celebrities, and the Sport Utility Van (SUV) for the young, upwardly mobile urban professionals. And their famed luxury sedan is still strong in the market. Rolls Royce has likewise expanded its niche to include the aircraft industry. Many aircrafts are powered by Rolls Royce engines because of their reliability.

As you can see from the foregoing, even after Benz and Rolls fully established their niches and settled comfortably in their markets, with the former admired for its superb engineering and styling, and the latter for reliability, they still went ahead to develop other niche markets. In effect, even if you have conquered a niche market, you can still expand into new markets.

Bic biro, a dominant force in the ball point market for decades, has gone into shaving stick production with the Bic brand. This is called Product Line Extension, subject of another article in the nearest future.

Therefore, using your established brand name in a successful segment to market a different product like we see from the example of Bic, which we call Product Line Extension is a way of developing a niche further. If that new product has something unique to offer, it could be a winner.

It is not easy to develop a niche market. You must follow all the processes of market development like feasibility studies, market research, funding research and development etc. Take note of this: You develop a market based on a need; but you develop a niche and create a market. It is a big gamble, for sure, but only risk takers succeed in life.

Weekend spice: “People who take risks are people you’ll lose against” – John Scully.

Until next week, folks, enjoy your weekend and stay motivated!

•Ladi Ayodeji is an Author, Conference Speaker/Pastor and life coach. He can be reached at [email protected] and 09059243004 (sms only).

sunnews

sunnews

Related Posts

Searching for smoking guns against Atiku
Columns

Tinubu vs Atiku: A cautionary tale of self-destruction

31st January 2023
Buhari’s presidency at Nigeria’s expense (1)
Columns

Naja’atu,Tinubu and broken verses

31st January 2023
Turbulence foretold
Columns

G5 Wagon stuck in the mud

31st January 2023
Next Post
Northern elders must talk  to their youths – Kalu

Northern elders must talk to their youths – Kalu

Reps member kicks off rehabilitation of dilapidated Lagos road

Reps member kicks off rehabilitation of dilapidated Lagos road

Proposed market triggers tension in Enugu

Proposed market triggers tension in Enugu

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Emir of Dutse dies

Delta: INEC schedules Feb 4 for mock BVAS testing

Igbo drama, Nwaanyi Ike, debuts on Africa Magic

Assets declaration key to public office accountability – FG

Old naira notes no legal tender status after Feb 10, CBN clarifies 

Fuel price hike: IPMAN gives dealers deadline to sell off old stock

Trending

INEC begins distributing of non-sensitive election materials in Nasarawa
Elections

INEC begins distributing non-sensitive election materials in Nasarawa

31st January 2023
0

From Abel Leonard, Lafia The Independent National Electoral Commission (INEC )has begun the distribution of non-sensitive materials...

Ogun 2023: Abiodun campaigns in Ifo, commissions fire station

Ogun 2023: Abiodun campaigns in Ifo, commissions fire station

31st January 2023
Ex-governor Makarfi vows to send APC packing from Kaduna

Ex-governor Makarfi vows to send APC packing from Kaduna

31st January 2023

Emir of Dutse dies

31st January 2023
Delta: INEC schedules Feb 4 for mock BVAS testing

Delta: INEC schedules Feb 4 for mock BVAS testing

31st January 2023
ADVERTISEMENT

Follow us on social media:

Latest News

  • INEC begins distributing non-sensitive election materials in Nasarawa
  • Ogun 2023: Abiodun campaigns in Ifo, commissions fire station
  • Ex-governor Makarfi vows to send APC packing from Kaduna
  • Emir of Dutse dies
  • Delta: INEC schedules Feb 4 for mock BVAS testing
  • Igbo drama, Nwaanyi Ike, debuts on Africa Magic
  • Assets declaration key to public office accountability – FG
  • Old naira notes no legal tender status after Feb 10, CBN clarifies 
  • Fuel price hike: IPMAN gives dealers deadline to sell off old stock
  • Igbo drama, Nwaanyi Ike, debuts on Africa Magic
  • Rivers’ll punish PDP – Wike
  • Lagos auto dealer remanded in prison over wife’s death
  • Buhari appoints Awolowo, scribe of national action committee on AFCFTA
  • Benue 2023: Group flays media campaigns against APC governorship rerun
  • Nigeria ranks 150, maintains 24 points on corruption index 
  • 2 Nigerians arrested in Canada for fraudulently selling $500 plane tickets
  • JAMB registrar warns agents not to sell PIN for 2023  UTME above approved amount
  • Inland dry ports spur economic growth – FG
  • Breaking: Herdsmen on rampage in Benue, kill DPO 
  • Improve on BVAS efficiency-Catholic Secretariat tells INEC

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • Change of Name
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
  • The Sun Foundation

© 2019 The Sun Nigeria - Managed by Netsera.