In my little town, we have a restaurant called “Medium Rare.” It has a unique selling proposition – they only sell one thing. Steak. The only choice you have is how you would like it cooked. You get bread, a salad, steak with fries and their secret sauce. No other choices for dinner.
They do one thing – and do it really well.
The steak is so tender, thinly sliced so it’s easy to eat. No knives needed. The fries are crisp – bistro-style. The sauce is really rich tasting – and adds to the overall dinner.
The inside of the restaurant is fairly plain, with paper tablecloths – where they write the temperature of your steak.
And – you get two helpings. When they see you slowing down – they bring everyone a second helping of steak and fries.
It’s quite a unique place.
The restaurant has a special USP – it serves one thing.
If you want chicken – they can’t help you.
Fish? No.
And you know what? They’re packed on the weekends! They do a fantastic business.
So why do online business owners feel like they have to offer every service to every one out there.
Choosing a Niche for your Business
You see this all the time – business owners asking if they should “niche down.” If they should choose a single service for their business. I think that it can be helpful – especially in the beginning.
Here are three things I learned form this restaurant:
1. Choose one product or service that your audience/client/customer wants. Make sure you’ve done your research and are providing a good or service that people will actually buy. Even clamor to buy. So you can have raving fans.
2. Choose a product or service that you can excel at providing. Don’t choose something that you can only do slightly well. Choose something that will make the customer go “wow.”
3. This niche isn’t forever. Once you master it – you can branch out. The restaurant actually serves dessert – and here is where you can choose. They have four options. In addition, they offer brunch on the weekends – and have several options. But that was only after they nailed their main offering – steak.
If you have a clear message, a clear audience – and you deliver a great product at a good price – it will be easier to get your first clients. You can then expand later to other areas that you’re knowledgeable about.
Don’t be afraid to narrow down.
Instead, find a niche and deliver the best product or service you can – just like this restaurant.
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