Many businesses try to capture a wide ranging variety of customers. After all they reason, the larger the market the more chance of getting business. I can understand how they reason.
I was in a shop a little while ago in a small market town in Wiltshire. From the layout of the shop it was very obvious that they were trying to please everyone. The shop is a very small version of a department store and is literally trying to sell everything!
Hardware, gardening, linens, a few armchairs, one bed, photo albums, stationery, toys, china, haberdashery and the stock list goes on and on. In the end the shop is getting full of stock and much of it is getting old and not moving. I can imagine asking to buy a super size xyz widget and being told they don’t have any but will order some for me. Next time I go in sure enough they are selling xyz widgets and I only need one!
This store is not alone. Many businesses try to please too many people. It is far better to have a niche, to become a specialist. When customers ask you for something you don’t sell recommend where they can go, be helpful but don’t spoil your niche market by trying to sell everything. You don’t want to appear to be a “Jack of all trades and a master of none”.
A niche or specialist supplier can have a range of items so that anyone wanting a product in that niche from you will not be disappointed. Such a business becomes the first place to go for choice in that niche. Indeed specialist suppliers are in great demand both as physical shops and online stores.
Feel free to leave your comments in the box below.
The Entrepreneur Club