February, 2021
Mid Month Biz Tips
How to Get Certified as a Minority-Owned Business....

In a climate of intense awareness for the fair treatment of all minorities, getting your business officially certified as minority-owned can open important contract opportunities. Read the full article here, and find out the four main qualifications for certification.
SCORE Simple Steps for Starting Your Business goes online!

Our signature five-part workshop series will be going virtual, in conjunction with the Cape Fear Community College Small Business Center.
Want to start a business but don't know where to begin? Want to give your fledgling startup a better chance at success?
The first online session begins March 4th at 6PM. You can register here and a Zoom link will be sent to you to participate.
Upcoming Webinars
Let's Get Started...
Choosing the Right E-Commerce Technology for Your Small Business

February 18 | 1 PM
Discover how the right technology can help you scale up, improve efficiency, and create a friction-free customer experience.
Shoestring Solutions to Common Startup Issues

February 23 | 1 PM
This webinar will help you understand what the most common startup pitfalls are and how to avoid or solve them - without spending a lot of money!
Q: How can I market a niche product that doesn't have mass consumer appeal?

A: Marketing a niche product means you're not selling to everyone; you have a narrow pool of potential customers. Successfully marketing a niche product starts with an in-depth understanding of your target market.

Start with thorough market research - use library resources like Reference USA or the Census Bureau to help. Ask yourself:
  • Is the product new to the world or are others like it already available?
  • How can you differentiate your product from those that are similar?
  • How large is the niche, is it growing, and at what pace?
  • What is the buying process?

Create clarity about your customers' needs and the value your product can bring to their lives by learning:
  • What are their needs?
  • What are their expectations in terms of quality, price, speed of delivery, etc.?
  • Where are your customers located (virtually and physically)?
  • How do they shop for products and services like yours?

Engaging with your target customer is another challenge with niche products. You'll want to know where your potential customer pool gathers to learn and share information relevant to your market. Do you need to be participating in industry events and conferences; accessing specific social media platforms; doing interviews in industry trade journals or on podcasts; or gaining exposure as a guest blogger on industry-specific blogs?

It's important to test market your product, your unique selling proposition and your customer value to confirm your assumptions and validate your market assessment. Although you can never be fully certain about your conclusions, learn what you can to minimize risk and then get started!

Check out SCORE's Course on Demand series and the course entitled Targeting Your Market to learn more.
Email us your question or make an appointment to meet with a mentor.
SCORE Cape Fear services are free of charge; we are funded in part through a cooperative agreement with the U.S. Small Business Administration.
SCORE Cape Fear | 910-452-5395 | scorecapefear@gmail.com | capefear.score.org