If you've been running your business for a while, you've probably fallen into somewhat of a routine. Sure, there are the day-to-day fires that need to be put out, and your head may be swimming with all the new ways the Internet presents to get your name in front of potential customers in your niche market. But, if you are successful, you probably stay focused on selling to that niche market you've already identified as most likely to buy your product or service.

And that's a good thing, right?

Well, yes, to a point.

Finding a need and filling it is the way most small businesses succeed. But don't let your success box you in.

If you do nothing but serve that one niche, you could be missing one or more other markets that wouldn't be all that difficult to reach. For example, instead of relying solely on the walk-in retail business at your bakery, could you increase profits by selling the bread and cakes to local restaurants? If you're selling successfully to the business community, could you also sell to state, federal or local government agencies?

To make sure you're not missing opportunities to branch into new markets, once a quarter, take the time to ask, "Who else needs what we sell?" Throw the question at your team, at business acquaintances who don't compete with you, at family and friends. Write down their responses and review them with an open mind. The result could be a new lucrative market for what you sell.

The Power of Niche Sales

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