niche business

3 Reasons Why It’s Important To Have a Niche In Your Business

What is a niche? A niche is a specialism that caters to a certain market or group of people

Having a niche is important because if you try to cater to everyone your overall marketing and message won’t speak to anyone. Your niche can also be linked to who your ideal client is. So, it’s important you have a targeted niche market and speak to a customer or client in a certain way which they can really relate to.

business plan process

How To Write a Business Plan

If your business is all in your head, it’s hard to convince lenders, investors and shareholders that you have a credible company and that you’ll use their funding well. And that’s precisely where a business plan comes in. This highly recognized management tool is basically a written document that describes who you are, what you plan to achieve, how you plan to overcome the risks involved and provide the returns anticipated. Often people think of business plans are limited to starting up new companies or applying for business loans. However, they are also essential to running a business with a clear, well-documented plan.