Business Has Changed. Have You Claimed Your Space?
It is 08:45 on a Tuesday morning and as the Elite Room team and I prepare to deliver another Expert Elevator Jumpstart course we discover an urgent problem. The hotel car park is running out of spaces and several of our delegates are yet to arrive.
As our team quickly reacts to this unusual situation and sends messages to advise on alternative car parks, Sally and I watch cars desperately trying to fit in around the ones already in the car park. This get us thinking…
The world of business has changed drastically in the last 15 years. No longer are businesses trying to be everything for all people in their local area, instead we are seeing a return to specialist and niche businesses of the past.
In the 1950s the high street was full of small specialist shops – the greengrocer, the fishmonger, the butcher, the hardware store, the menswear shop, the dress shop, etc. By the 1970s this had slowly slipped away as big businesses took over and created one-stop shops that sold everything. At the time this seemed like that only way to scale a business, but the internet gives a new way to create scalability. It also gives a new opportunity: the micro niche.
Think about this for a moment… Imagine one of your loved ones needs a lifesaving operation. Would you prefer the surgeon to be someone who has done many different operations a handful of times or be the specialist that does the operation your loved one needs day after day?
The answer is obvious and the world increasingly looks for this specialist knowledge in other areas of life too.
This is why claiming your space, your micro niche, is critical for the sustainability and growth of small and medium businesses. You can’t be a generalist if you want to thrive in the modern world.
Right now, the smart entrepreneurs and business owners are already out there, claiming their space and positioning themselves and the products and services they offer. Thing is, like the hotel carpark, the spaces are quickly filling up.
Do you know what your space is? Have you identified how you are different from the other players in your market?
Are you ready to claim your space, or will you wait until the carpark is almost full and you have to fit in around everyone else?