I think your business, niche and market often tend to change over time. After a 30 year career working with the legal profession I didn't want to work with lawyers ever again and decided my niche would be solopreneurs and small businesses who need executive assistant type help, but I found it boring doing mundane ho-hum tasks a high school kid could do. Deep down I needed back in "the action".

Most of my LinkedIn groups are legal (along with a couple of tech ones) and I'm in them every day as it's fascinating to see and learn about how the practice of law is evolving. I'm also getting heavily into social media and learning, learning, learning. These things are what make me jump out of bed every morning full of enthusiasm for the day ahead.

Much as I originally said never again, I understand lawyers ... and have some grey hairs to prove it! (thank goodness for Clairol lol) so I guess my niche is now working with lawyers and providing social media assistance. That's what makes me really happy.

I'm starting with a new lawyer retainer client next week and will be doing legal assistant work along with social media and setting up speaking engagements. I guess that's where my niche was all along ... I just didn't know it.

Lynne

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The Wordpro Wizard
www.wordprowizard.com

I have nonprofits, small business owners, bloggers, and solopreneurs- I enjoy being able to help the smaller guys. My degrees are in small business management and nonprofit management so these are clients I can relate to and understand. Plus I feel it goes with my tagline Helping your business take flight these clients really want to get in on the right foot and see there small business ideas grow. Also my logo involves a small bird and it just wrapped around the idea of small business. I don't feel it limits me to be so specific I focused in on a group of clients that I can provide a quality service to with my background.

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I understand the concept of a target market but am having a hard time finding the data that will support my business and marketing plan for my target group. Any suggestions?

WOW thanks for explaining I have been going about it wrong. I thought niche and target market were also the same thing. Some people do explain that your specific target market is your niche.

Moving forward I now know the difference!

I am also currently doing target market research on the industries that I want to work with. I know which industries or sectors, I know why but now I need to find out what their needs are and hone in on that.

This is great!!

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Mae Smith - Owner of eOffice Business Solutions
Your excellent, efficient, economical partner in business support services!

I don't think my brain is switched on today (well, it IS Sunday! LOL! ) because I'm still failing to see the differentiation between Niche and Target Market.

I've always gone for anyone who needs my services. I've had/got as my clients Removals companies, pub/social club owners, an inventor, a cake decorator, a carpenter/joiner, a professional business coach, etc. I guess the one thing they all have in common is that they are all business owners.

But if I was to specify a target market, I think I'd want to go for professional coaches and life coaches, trainers, etc. This is purely because all the coaches I've met I liked. I seem to be drawn to those sorts of people. And I'd probably pick up lsome personal development tips in the process.

Property investors is another target market/niche that I'd like to work with. Property interests me (since I read Rich Dad, Poor Dad & started playing Cashflow 101) and I'd like to get into that business myself in the not too distant future.

Another great idea I had, was being a Virtual Assistant's Virtual Assistant and working with other VAs, being someone they could outsource work to when they have too much. I think that'd work, for sure!

That being said, if someone else, say, an accountant or a builder came to me wanting some clerical support, I'd not turn their business down. It's money, for goodness sakes!!!

Anyways, I'd certainly appreciate a little more clarification on the difference between target market and niche.

Also, if someone outside of my target market and/or niche was to come to me for some support, am I supposed to turn them away? Perhaps I could take them on, but outsource the work to someone who specialises in their field, getting just a small referral fee from the VA I outsource it to?

Many thanks,

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Jae Alexander Linsey - 2SupportU.biz
Administrative Support | Marketing Support | Networking Events

Short version:

Niche - what services you provide.
Target - who you provide services to.

My niche is bookkeeping and general office support.
My target market is 1-person law firms.

However, if I have the skills to do it, I will provide it to whomever wants it.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

Originally Posted by Office Goddess

Short version: Niche - what services you provide. Target - who you provide services to. My niche is bookkeeping and general office support. My target market is 1-person law firms. However, if I have the skills to do it, I will provide it to whomever wants it.

Thanks Office Goddess for that succinct explanation.

So my niche would be, what I call, "Creative Design Services" ~ graphics, web design and PowerPoint presentation design, as well as Excel spreadsheets. But I also will do typing, etc. if someone requires it.

I don't actually target anyone in per se. Only as long as they are sole traders or small business owners.

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Jae Alexander Linsey - 2SupportU.biz
Administrative Support | Marketing Support | Networking Events

Originally Posted by forwardvision

Thanks Office Goddess for that succinct explanation. I don't actually target anyone in per se. Only as long as they are sole traders or small business owners.

You're very welcome and sole traders or small business owners ARE your target market.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"