Don't confuse 'niche' with 'profitability'

Startups and micro-businesses in Early Struggle should have only one goal – get out of there (and into Fun) by finding a sustainable, profitable market for your product or service.So why do so many startups fail to do this? One reason (not the only one, but one of the most common): they confuse ‘profitable’ with ‘niche’.

‘Rare’ is not the same as ‘valuable’. Sometimes ‘hard to find’ just means ‘little interest in’. ‘Niche’ does not automatically equate to ‘profitable’.

If you’re delivering a niche product or service, questions 1 through 99 on your business growth checklist are all the same: “Is this niche capable of delivering long-term sustainable profits to my business?”

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About the Author

Les McKeown is the Founder and CEO of Predictable Success.

Les is the author of "Predictable Success: Getting Your Organization On the Growth Track - and Keeping It There". "The Synergist: How to Lead Your Team to Predictable Success", "Do Lead: Share Your Vision. Inspire Others. Achieve the Impossible" and most recently "Do Scale: A Roadmap to Building a Remarkable Company".