As micropreneurs, we are the underdogs by default. In most cases, we find ourselves in a competitive and highly fragmented market space.
Standing out and cutting out your share of the market is an uphill battle. However, it would be best if you didn’t give up.

Understanding your edge

There is always a unique space for your business to fill; you have to find it.
The key to successfully running a small business lies in understanding your edge. Your edge can be a number of things:

• Your personality,
• the price of your products,
• your eye for details,
• your distinct position in the supply chain,
• the authenticity of your design,
• flexibility, etc.

As much as I love KFC, it isn’t my favorite restaurant as it doesn’t meet my preferred dining experience. I love to eat at a restaurant where I feel at home, where the waiters and chefs are my friends.

Not just polite but friendly and slightly chatty. My favorite restaurant fits this profile. What’s more, my friends are like me, and this restaurant has become our go-to hang out spot.

We walk in, and we feel like stars with everyone greeting us and sparking short conversations before going about their business. On slow days, it isn’t uncommon for a staff member to sit with me and chat.

Therefore, My favorite restaurant’s edge: isn’t speed, variety, or taste. However, those bases are well covered. My favorite restaurant’s advantage is the interpersonal relationship it builds with every one of its customers.

A short interview with the owner made me realize that it was an intentional strategy. His niche was to make his customers his friends and part of his community.

Conclusion

In conclusion, Identifying your niche isn’t going to be easy. However, once you do, you would easily carve out your market share and even expand it over time.

The best place to start identifying your edge is by understanding what extra or unique value you want to offer.

Once you have your advantage figured out, the next step is infusing it into your business and your brand. Your edge is going to keep your customers loyal and make them ambassadors of your product or service.