Finding your Niche

Tom Asacker points to an article from the August 2004 issue of Inc. Magazine by Norm Brodsky:

Brodsky writes: "There are three myths about niches that can get in the way of building a successful business. First and foremost is the myth that you have to choose your niche before you start your company. Granted, it's sometimes possible to identify a niche in advance, but often you can't see it until you've actually gone out into the market and begun to sell." Having been there I can assure you that this is wise counsel from a street-wise entrepreneur. And it applies to an existing business as well. Don't assume - like Polaroid, Xerox, Kodak, et al - that your niche is niche-proof. Everyone is looking to grab a slice of your pie with innovative new products and services. So be smart. Stay tuned in to your audience's dreams, wants and pains and preempt your competition with your own bold, new offerings that improve people's lives.

Great advice. Have you looked at your niche lately?