What is carving a niche and how does it add value to yoru home business?

Carving a niche is giving your home business a unique identity. Its a mind game. Carving a niche is about positioning your home business in the  mind of your prospect and not in market. Carving a niche should be one of primary focuses while you start your home business.  Carving a niche means filling a need. Thousands of sites with similar theme are already up and active on net and as many are being launched everyday. How do you survive such competition? By carving a niche for our services or product.. means we give it a unique identity. Say for example I am dealing in online education. (See, how I develop my niche.. ) I narrow it down to MBA. So my focus group becomes students who are aspiring to do MBA. I further narrow it down.. people who want to do it online. I have narrowed it down to Online MBA.  now I think of an add-on': I help them get educational loans. Finally I have a product/service ready for my specific target audience "Now you can continue to do your regular job and do your MBA Online. We help with educational loan you may need to pursue your dream of getting yourself a professional degree.

What is carving a niche and how does it add value to yoru home business?

Carving a niche is giving your home business a unique identity. Its a mind game. Carving a niche should be one of primary focuses while you start your home business.  Carving a niche means filling a need. Thousands of sites with similar theme are already up and active on net and as many are being launched everyday. How do you survive such competition? By carving a niche for our services or product.. means we give it a unique identity. Say for example I am dealing in online education. (See, how I develop my niche.. ) I narrow it down to MBA. So my focus group becomes students who are aspiring to do MBA. I further narrow it down.. people who want to do it online. I have narrowed it down to Online MBA.  now I think of an add-on': I help them get educational loans. Finally I have a product/service ready for my specific target audience "Now you can continue to do your regular job and do your MBA Online. We help with educational loan you may need to pursue your dream of getting yourself a professional degree.

By above thinking process we have done three things : Our target audience is decided. Our USP (Unique Selling Proposition) is decided, that they can work while they earn their degree. And third thing 'Add On' is, if they are looking for loan to study we can help them.