Niche smarter, not smaller. Build a product line that actually sells.

Hey Pixies! 

Let's talk about niching, why it's so important, and why fixating on it can be doing more harm than good. We’re going to use the concept of niching to start making a plan. 

So… what exactly is a niche? Definitively, a niche is “a specialized segment of the market for a particular kind of product or service”. This lends to the niche-hard attitude so many people embrace. 

Choosing a niche is incredibly important. It is one part of a whole. Imagine your business is a vehicle. A niche would be the steering wheel. 

However, if you Google the definition of niche, the first definition is “comfortable or suitable position in life or employment”. 

Are you comfortable making one style of product? Does this make you happy? If you are, then you’re all set! 

If not, I've got you! Having a narrow niche is a requirement for almost any business model. If you leave too many items on your list, you can become overwhelmed. Not enough, and boredom can set in. You need balance. We will go over how to create your list later on. 

When deciding on a niche, don’t think of any one specific item yet. Take the time to consider who you are. What are your personal interests outside of crocheting? What are the things that speak to you as an individual? Chances are very good, if you can stay true to yourself, you will find your target audience. 

Another reason to consider personal interest before you choose a niche is that you can apply transferable knowledge. 

Transferable knowledge is taking what you already know in one area and applying that knowledge in a new way. 

It all sounds more confusing and complicated than it is. Let me give you an example: one of your hobbies is crochet. Easy. That's why you're here! Let’s say you also really enjoy cooking. Cooking requires cleaning, though. Did you ever wish there were some super cute, well-made rags to help with that chore? That could be your niche! 

Next, we're going to decide on what categorical umbrella these particular rags fall under. Since we are talking about kitchen rags, our categorical umbrella could be kitchen accessories! 

The reason finding your categorical umbrella is important is because it can now be used to expand your niche clearly and quickly. 

Use the umbrella name and write it at the top of a paper. Now, make a list of everything you can think of that falls under the kitchen accessories. Don’t be afraid to do a quick search on Pinterest and see what comes up! Here’s what your list could look like:

Kitchen Accessories:

• Wash rags 
• Wall decor
• Hot pads
• Fruit hammocks
• Scrubbies
• Hand towel hangers
• Bowl koozies
• Hand towels
• Fruit baskets
• Hanging baskets
• Pan dividers
• Etc!

If the list is starting to look overwhelming, don’t worry. This is where your niche starts to take shape. 

The next step is to think about those rags. Is that where you want to start? Did something else on your list strike your attention?

For the sake of this example, we are going to stick with super cute, fun shaped rags as the item you really want to start with; but the concept is the same with whatever items you choose. Now, onto the next step! 

Niche math! Don’t worry. These are easy numbers. Niche math is: item vs. creation time vs. material cost. Start small by making three corresponding items for your list. I recommend: 2 small list items + 1 medium list item.

Use the amount of time you know is available to you in order to decide on how many items of each size you can create an inventory from, without adding too much to your plate. Deciding on this should not stress you out, that’s the point of this exercise. For example: washrag (small) + scrubby (small) + hotpads (medium).

And there it is! A game plan! Having a clear idea on what you want to make will only be a bonus to your business. Having a clear plan keeps costs down, lowers stress and prevents burnout. Having a shorter list keeps inventory up and improves quality through experience. 

Now that you have a regular inventory with controlled production, keeping up with new designs and pre-season reveals will be much easier to prepare for.

You may be wondering, “If I’m only making 2-4 items, what was the point of making such a big list to begin with?” The answer - growth! You’ve been making rags, scrubbies, and hotpads for a while, and you’re so fast! You’re able to maintain your inventory with ease. Design drops and reveals are moving right along, and you’re finally ready to share something new with your audience!

Coming soon…a new list item!

Niching does not limit you or what you have to offer. A good niche offers a long-term growth plan with focused expansion. When you begin offering a new item, you will have a better understanding of your audience’s interests. With this, you will have knowledge of popular themes, sellers, and colors to build from!

• To break it down simply:
• Make your umbrella list.
• Niche it down.
• Get good.
• Get fast.
• Be absolutely comfortable.
• Drop a new item and expand those horizons!

YOU CAN DO THIS!