Differentiation is crucial to the sustained success of any business — if you’re indistinguishable from the crowd of competitors, you’ll fade to the background rather than pop into plain sight.
And on a fundamental level, there’s a choice between two models for making yourself different — doing something original or doing something similar to other companies in a distinctly different way (by varying price, customer service quality or some other variable).
When you’re sitting at the drawing board, the first option might be the most straightforward — so if carving out a niche sounds sublime, these five brilliantly unique businesses might provide some inspiration.
- Droning on
Drones have been around for a while, but it’s still reasonably rare to find a company dedicated to making money from the innovative applications of these clever mini-choppers.
But drone video specialist Rising View does just that — using its flying fleet to capture aerial videos, roof inspections and surveys, music and tourism videos and wedding videos.
If you spot the potential of another type of cutting-edge tech while it’s in its infancy and capitalise on the opportunity, competitors will be playing catch-up for years to come.
- Data Protection
In the lead-up to the launch of the EU General Data Protection Regulation (GDPR) in May 2018, a rash of companies seemed to emerge from the ether offering compliance support.
But while adhering to tough rules is important, it’s best to be particular about where you take your advice — so an expert firm like ProDPO is worth its weight in gold.
Trust and professionalism are essential if you’re entering a niche compliance field.
- Laboratory supplies
As long as schoolchildren, university students and researchers are required to test new materials or hypotheses, they’ll need a steady supply of flasks, test tubes and measuring devices to carefully control conditions.
Enter laboratory supplies firm King Scientific — a company that excels in providing all the equipment and chemicals necessary to set up a top-notch lab.
Their ongoing success evidences the power of a simple business offering.
- Edgy laces
When you’re developing a product that’s exceptional, it’s sometimes more effective to improve rather than reinvent the wheel.
That’s the philosophy of Hickies, who upgraded the lacklustre laces that have been around for aeons to a sleek and subtle lacing system that snaps together and turns every shoe into a slip-on.
The clip-on tie is already in the bag, but if you can think of another everyday invention that needs upgrading, you might be onto a winner.
- Revitalised trainers
Trainers are enjoyed by mean and women of all ages and genuine sneakerheads are obsessed with collecting, and occasionally wearing, pairs that are hard to find.
But overuse means your favourite sneakers can soon become stale, smelly and sometimes structurally damaged.
That’s when sports shoe repair gurus Sneaker ER step in — and revamp the pair you were about to bin reluctantly so that they have a new lease of life.
We’ve reached the end of our guide to carving a business niche. If you can think of any tips we’ve missed, please let us know in the comments section.