INDEED, HOW TO KNOW IF YOU'VE NAILED A NICHE?


INDEED, HOW TO KNOW IF YOU'VE NAILED A NICHE?

Hyper-growth companies create predictable revenue. They nail a niche, build a predictable pipeline and make sales scalable. If you want to grow faster and to get to hyper-growth, you need predictable revenue.

So, first thing to know: have you nailed a niche?

No matter what kind of business you’re in, the scale of your business or your business goal, the one common sign that the chosen niche works for you are those ‘unaffiliated paying customers’. By unaffiliated, we mean the customers who aren’t your old acquaintances or connections of investors. 

These are customers who are in no way related to you or anyone in the top management. But still, they found something worthwhile to spend money to buy your product. This means they are genuinely interested in what you have and willing to pay out of their pocket for it.

This is the first sign of validity that what you have is worth something to some people out there. It means people have confidence in what you offer. It means what you offer is something valuable. It means this is something you can build on.

A few ‘Unaffiliated Paying Customers’ means bigger ones are on the way
You don’t need to have hundreds of such unaffiliated customers in the beginning. You don’t need to make huge profits off these customers. Even having a few customers that you can count off your fingers is fine.

It’s what these few customers represent that matters. When you have five people ready to buy your product, it means you can scale it to ten the next month and even 100 a few months down the line. These few customers are what you need to get the ball rolling. 

This is precisely how many global companies of today started - by nailing a niche. Heck, Amazon started with selling books and look at where it is now! It’s similar to the story of many other giants like Salesforce, Facebook, PayPal and many others.

‘Nailing Your Niche’ also means focusing on unique strengths 
When we say niche, many think we mean the choice of industry. But that isn’t just sufficient for hyper-growth. There are so many competitors available in the market and you have to set yourself apart from the others. 

Focusing on your unique strength – that skill, value, reputation or any other element that will help you to stand out from the rest. You may have a bunch of strengths but pick out one that makes you valuable.

Once you have identified your unique strength, start leveraging it. Use that strength to market your product and solve the pain points of your customers.

Now that you are clear about how to Nail a Niche...
The FaceValue app is all you need to create predictable revenue and achieve hyper-growth. You easily define the right target groups (Nail your Niche!), build a predictable pipeline and make sales scalable. Load the Brains with your brand information and with one click you activate all 20 Points of Purchase. Discover here how.

Read more about Nailing your Niche: Indeed, why do you have a Niche problem.

 

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This blog is excerpted from: ‘From Impossible to Inevitable: how hyper-growth companies create predictable revenue’ co-authored by Aaron Ross and Jason Lemkin.

Break your revenue records. The Silicon Valley’s 'Growth Bible' makes very clear how to get to hyper-growth and the work needed to actually get there.

 

Try FaceValue now and get for FREE the bestseller 'From Impossible to Inevitable: How Hyper-Growth Companies Create Predictable Revenue'. Try It Now.
 

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