I have been talking with a friend who is a Mortgage Brokers in the lower mainland about finding a niche now for the past 6 months. Finding a niche is not always the easiest thing in a highly regulated and competitive industry. Yesterday when speaking with her I asked why commercial mortgage brokers are not as abundant as just home mortgage brokers. The answer she provided was that it was HARD.

Since reading The Dip by Seth Godin I advised her to start looking in to doing commercial mortgages instead. If she were to spend a bit of time researching that industry and build a solid business plan she can enter in to a market that has very few brokers in it and possible grow her business by 500% or more.

The moral to this post is that if your in an industry where something is hard that usually means that there is fewer people doing it and a bigger pay off if you are able to do it correctly. Finding out how to do it correctly usually means doing research.

Does your industry have a portion of it that is hard that you could niche in?

Do you have a business and want an idea on how you can niche it? Post your business’ name and what type of business it is and I will feature your business in a follow up.