The first step in starting your new business is to choose a single focus. Solopreneurs usually start by catering to a niche market, where they can build an active and interested audience. You will want to have a steady customer base before you move on to anything else.
Having reliable customers is essential. They keep your business profitable and allow you to easily engage with them. Plus, a solid customer base keeps your business easy to manage. If you start to branch out too much, you might have trouble handling all of the tasks on your own
Center of all your services and products around your single business focus. For example, if you were running a freelance graphic design business, you would focus on delivering the graphics your customers wanted. You would likely not branch out too much into other areas.
This is another difference between entrepreneurs and solopreneurs. An entrepreneur who runs a graphic design business would have a team of designers working for them. They could offer more services- which would be hard for a single person.
Your single focus should reflect your passion and what you love. With one main service or product you will be able to cater to a niche market- where there is less competition. Many independent workers can meet all of their goals by doing this.
So, before you can start working as a solopreneur, you need to know how to sell to a niche market.
Choosing Your Business Focus
Your business focus is going to be the center of everything that you do- you do not want to pick something you might dislike or grow bored with later. What is your passion? Do you have any hobbies you want to market? If you love what you do, you are much more likely to succeed.
Use these steps to determine what your business focus should be:
To summarize, your business focus should be something unique that you enjoy doing. It is difficult to work in fields that bore you - you would lose interest in the business quickly, then likely lose your investment in the start up too.
How to Sell to a Niche Market
Once you have your business focus, you will need to learn how to sell to that niche market. You will want to know everything you can about your audience. From there, you can use your focus to create your marketing strategy.
A well thought out content marketing strategy is essential. Luckily, you can build your own online. Many independent workers run social media pages for their brands. To do this, you will need to work on your brand identity, then focus on uploading consistent content.
Your unique business focus can lead to a great content marketing strategy naturally. For instance, if you are a photographer looking to market yourself, posting your professional shots often on Instagram would be extremely beneficial to you.
If your business offers products, then you can find plenty of ways to market online. Social media advertising is a great way to bring traffic to your website, which increases sales. When it comes to niche audiences, you want to be certain your ads are appealing to them - otherwise you are wasting money.
Most importantly, take the time to engage with your audience and listen to them. Your customers know what they want and will tell you.
Building a Market
Is your idea or niche such that there is no obvious market? You can always try to make your own. To do this, you will need to invest a lot of time into your marketing campaign.
Once you have found your audience, you need to show them why they should buy your products or services. The best way to do this is to create a compelling story around your business focus. Potential customers will want to see all the benefits that your business has to offer them before they make any purchases.
You can tell your story through content creation. Make videos, images, and articles. Make sure that you include all of the benefits that your brand has, as well as what makes it different from your competitors.
Thank you for reading,
This article is based on a chapter from Solopreneur Success found in the Storefront.