PowerPoint Diagram On Finding The Right Market Niche For Small Business

Starting up a new business is exciting yet it involves risk at the same time. But don’t fret since any entrepreneur, may it big or small, knows that there are risks involved in business especially if you are just starting  a new one.  However, you can lessen the risks if you are well-prepared, have the right attitude and of course have a sound business plan. And talking about business plans, a good  business presentation is well part of it. Hence you can use SmartArt to aid your PowerPoint presentations and mind maps.

In the previous article Using Continuous Picture List SmartArt in PowerPoint Presentations, SmartArt was used to present the continuity or the interconnected relationships of some elements that can help you find or carve a niche in the world of commerce.

Take for example the graphics below.

01 Finding The Right Market Niche For Small Business

The SmartArt graphic was Continuous Picture List and considering its definition, it is used to present or show different information that is interconnected. Hence, the result of any parts could affect the outcome of the other blocks. It is for this reason why it is interconnected on the first place.

Using SmartArt in Planning For Your Small Business

In the previous article, a SmartArt graphic was used to show how the element of ‘Being Clear’ will affect Focus and the message that you are trying to get across to your target market. Case in point, if an entrepreneur is not clear on what he wants to offer and he puts up a store that sells anything under the sun, then people will buy from his small store, while some may not. One possible reason why people will buy from such a store is because they may  find what they are looking for but there is really no assurance for a good sales turnover. Chances are, clienteles will go to the a store that specializes on a particular group of products, e.g. electronics or clothing. This somehow gives the clients an assurance that people who are manning an electronic or clothing store, know the ins and outs of different types of items on sale.

Using SmartArt in Planning for Your Small Business

With this said, it is pertinent that you should be clear on:

  • What you want to sell or offer?
  • Why you want to sell the product or offer the services?
  • What is the advantage of your product or service, as compared to your competitors?

Or

  • What makes your products/services different from the rest?
  • What makes your products/services stand out?

1 Finding The Right Market Niche For Small Business

If you are unsure that your product will click or it will catch the attention of your market, then perhaps you need to go back to the drawing board and rethink your plans and strategies. For example, if you are planning of selling clothes to teens and there are other 30 entrepreneurs who are doing the same in your county or small city, then come up with a clothing feature that your competitors don’t have.

Use Horizontal Bullet List To Itemize The Features That Will Make Your Business Stand Out

When you use on SmartArt graphic for your PowerPoint presentations or mind maps, it doesn’t mean that you will only be using the same graphics over and over. As mentioned earlier and in the other posts, you can use SmartArt in other parts of your presentation, if needed.

For example, the discussion on Focus, can be best visualized by using Horizontal Bullet List, (see image given below).

2 Finding The Right Market Niche For Small Business

Going by the definition of Horizontal Bullet List SmartArt, wherein it shows a non-sequential information with large number of text like identification or definition, without one point affecting the other points. As shown above, one element of focus is your business direction wherein all your efforts should be directed towards the achievement of your business goals while the other point is the consistency of your efforts. Needless to say, keeping a go! go! business attitude this week, while being lax on the next or succeeding weeks will not ensure business success at all.

With this said, once you are clear on what you want to sell or offer, then consistent with your efforts and business activities, then you are assured that the business message that you are trying to impart will be sent to your clients, crystal clear.

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