As a freelancer, how do you choose your niche? And do you actually need it? In his article, Matthew Fenton discusses the benefits of focusing on a specific market segment for freelancers and consultants. He highlights the potential pitfalls of not choosing a niche and provides practical advice on identifying and embracing one, stressing the importance of specialization in a crowded market.
"A niche is a subset of a larger market that is characterized by unique identity, needs or preferences. It’s not more complicated than that. As a one-person operation, you can increase your odds of success by focusing on a specific niche that can sustain your business and position you as an authority."
Matthew illustrates the impact of niche selection on business success by contrasting the experiences of two fictional characters. He further delves into the advantages of niche selection, including the ability to charge higher rates, create a more targeted marketing strategy, and establish oneself as an expert in a specific field.
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