(If Necessary) Make Lemonade in Your Niche

When life gives you lemons, the saying goes, make lemonade. That’s a simple saying -- but there’s a nugget of truth in there that many Nichepreneurs™ have used to build their practices or even identify an entire niche.

Lemons grow in unexpected places. One big lemon’s currently hanging over the toy industry. Contractors in

China

made a series of rather large mistakes -- namely using lead based paint on toys designed for small children, who have a disarming tendency to put things in their mouth -- which lead to a huge, highly publicized series of recalls.

This lemon has created opportunities for smaller vendors to capitalize upon. It’s a small, potentially lucrative niche. This was pointed out in Zable Fisher’s Practical PR Newsletter -- highlighting the fact that at this crucial holiday season, where parents are desperate to find gifts, marketing your lead-free, Made in the USA toys could be the smartest decision any toy maker could make.

Crisis spring up in every industry. A massive pet food recall a few months ago was a veritable gold mine for Dave’s Pet Food who could not only use this crisis to reinforce their position as the Expert (when it comes to feeding your pet) but to build a trust-based relationship with new customers who needed to know when they gave Fluffy her dinner, she would be safe.

No one wants to see their industry suffer, but as Nichepreneurs™ we must also be aware of the opportunities that arise when bad times show up. Innovative thinking and knowledge of our target audience are essential elements to making it as a Nichepreneur™.

 

Comments

[Margie]

Well put!

P.S. - Loved your book!