Core Components
Niche
The second half of your Core Focus: what you do best and for whom. Your niche is the intersection of what you’re uniquely good at and what a specific type of customer desperately needs. It’s your lane — staying in it creates competitive advantage.
In Plain English
The specific thing you do better than anyone for a specific type of customer. Trying to be everything to everyone is the enemy of this.
What it looks like in practice
An accounting firm decides its niche is outsourced finance for construction companies, and declines a restaurant client that would have pulled the team in a new direction.
The common mistake
Describing an industry instead of what you do best. The niche is the thing you do better than others, stated simply enough that it rules work out.
Related Terms