Does your three minute speech about your company easily convey to the listener what niche your business operates in?
Does your three minute speech about your company easily convey to the listener what niche your business operates in? At a recent local meeting for the National Association of Women Business Owners, attendees were given the assignment to define their niche. Each participant was challenged to identify their business, explain how they could be assisted with business development and offer some short facts on their business focus. The assignment ended with each business developing a branding tag. It was a challenging exercise for new and seasoned business owners alike. After listening to all the unique and differentiating aspects of women-owned business from around the area, I was inspired. I reflected deeper while driving home that evening on just what niche my own business represented, how it got there and what strategies were in place to ensure business health for the future.
Whether you are a business owner or a valued staff member, understanding the business’s niche is important for a successful business. Finding the time to converse with other people about trends and influences unique to an individual industry segment is also beneficial. Participating in industry associations keeps us knowledgeable of specific topics looming on the horizon which may affect our bottom lines. Participating in local, state or federal business associations arms a business owner with knowledge and perspective on topics which impact not only the business but also the employees’ lives as well. It is my personal belief that businesses have a responsibility to be leaders in the “community stewardship” niche.
Each one of our businesses holds a key component to what makes our community successful. Historically, the Peoria region has exemplified a strong, hard-working community. Currently, our business community continues to pave the way with a “can-do” collaborative spirit. This spirit is elemental in showcasing how central Illinois has developed as a leader with a unique niche climate focused on commerce, business development, retention and relocation. As a membership-driven organization, the Peoria Area Chamber of Commerce— just like other Chambers from around the region—is poised and primed to vocalize our “niche” to others. Participation with your local Chamber is paramount for a community to be best represented in distinguishing our area in promotion of all business.
Understanding an individual business niche is up to each business owner. Success will be earned by working collectively with staff members and fellow business owners. Understanding and promoting our community’s niche is up to all of us. Let’s all travel together on the journey to make central Illinois the best region in which to live, work and play. tpw