It's easy to look at successful companies and think, "I want that." Success comes after you make Big Goals and take Bold Actions.
Not all niches are equal, and some niches aren't even niches at all. If everyone offers similar service, it's not a niche. A niche strategy has to adhere to 3 components: 1, customers self-identify with the niche; 2, specialized expertise or capabilities; 3, market density to support a business.
Repositioning a business can be one of the most costly and painful transitions a company go through. National Logistics Services (NLS) went through 18 months of sales purgatory when it repositioned from a general logistics provider to experts in fashion and footwear. Today NLS has a sticky brand, but it was a challenging journey. Peter Reaume, CEO of NLS explains, "It was one of the scariest thing I've ever done. We knew we had to specialize, but the transition was hard."
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