What’s Wrong With “Pick A Niche And You’ll Get Rich”?
As business owners and entrepreneurs we learn the importance of picking a niche to focus on simvastatin 80 mg. We’re told the more we can clearly define our niche, the greater profits we’ll make. The popular marketing slogan “Pick a niche and you’ll get rich” has many-an entrepreneur in search of the niche that will make them the most money. Profit becomes the sole driving force behind the decision to choose one niche as opposed to another. Yet we know approximately 50% of businesses fail, and many struggle to reach the profit potential in their business, even if they’ve nailed their niche. So what’s wrong with this picture?
In case you hadn’t taken a look at the big picture of all the change that’s been going on over the past few decades, we’re driving toward a new heart centered economy and a new way of looking at profit. Today’s consumer is increasingly more concerned about the values of the companies they buy from. Companies who exploit, maim animals or care little for the environment are being challenged by the soaring popularity of sustainable, caring, feel good value brands.
In the past, your business could get away with simply giving to charity to add the “feel good factor” to your brand. Today, you not only have to have the “feel good factor”, you also need the “be good factor” if you want to survive the shifting values taking place across the globe. You need a purpose for being in business far greater than just to make lots of money. You need to inspire a generation of heart based value buyers.
An interesting dove tail to this trend of heart centered buying patterns is the growing trend of entrepreneurs wanting their business to mean more, to make a bigger difference and to have some purpose other than just to make a profit. Other measuring factors, like social good, become just as important as profit. This is social entrepreneurship.
Profit Meets Purpose
The need for a sense of greater purpose to doing business, is dove tailing the growth of consumer buying patterns that are more heart value based, as well driving the explosive rise in social entrepreneur start ups. In social entrepreneurship, profit isn’t only determined by how much money you have left at the end of the day, but as important how much good has been done in the world. In short we’re incorporating a more spiritual based value system into business, which has a ripple effect of strengthening a heart centered economy.
Most people in business have a sense that they’re here to do something and they want to make a difference. Given heart based consumer trends and the hearts and minds of business owners and entrepreneurs, picking a niche to make you rich may back fire on you. It’s a fast outdated approach to business. On a personal level it leads to feeling a lack of meaning and purpose in your life. On a profit level today, it can lead you to loose business or at the very least struggle to inspire a large volume of consistent loyal consumers raving about you on social media. Influence on social media is something you increasingly need these days to make online sales.
Purpose As a Pathway to Business Thrival
Many businesses have been tumbling into non-existence as they fail to make the internal adjustment to the external change precursors. They become like the buggy whip makers at the turn of the Agricultural Revolution into the Industrial Age and its motorcar. Pursuing profit in the Industrial Age was the whole point of that Age, so it worked just fine to pick a niche to get rich in. But it’s not the core value system of the Information Age we’re in now. A new set of values and new way of being and doing is needed to survive and thrive.
Business has always had the higher potential of doing greater good in the world. Today as entrepreneurs and business owners we have a unique opportunity to not only step up to our higher purpose, but also fulfill the higher purpose of business, which is to be a force for good without the necessity to exploit for profit. We’re living in times where profit and purpose meet for the good of all concerned, not just a few.
We all have a purpose for being here and we all have a mission. So instead of picking the niche that will make you rich, pick the niche you were born to serve and prosper in. Answer the questions:
- “What am I here to do”;
- “How can I make a bigger difference”;
- “What is the best way for me to express myself in my business”
Find the answers and you’ll begin to unravel the niche you were born to serve and prosper in. You’ll also be moving toward the vicinity of fortifying your business for thrival as we birth this heart centered economy.
In my work as a Visionary Strategist and Key Note Speaker for changemakers and social entrepreneurs, I’ve conducted thousands of Visionary Mastermind Sessions to help people find, follow and accurately monetize their mission for good. I have had the privilege of seeing into their future and the best pathway forward for them to structure their business for purpose and profit. Here’s what I’ve found that has me absolutely convinced that we can positively transform the world through social entrepreneurship. When each of us step up to what I call our Mission Blueprint, this is like the architectural blueprint for our best life potentials, through the ripple effect of living true to our purpose and mission, we’ll transform the world.
We will create the better world we all dream of living in when we shift our focus to finding the niche we were born to serve and prosper in. We’ll be making more money by making a bigger difference transforming our bank accounts, and the world bank account of happiness and social good.
So what’s wrong with the statement “Pick A Niche And You’ll Get Rich”? It’s playing a small game that is fast becoming outdated. It also means that the higher potential we can reach as individuals, entrepreneurs, business owners and humanity at large will never be realized. A future scenario I’m not seeing as a Visionary, I might add. I’m seeing instead a world where, out of necessity, we are playing big and fulfilling our higher potential as we fulfill our higher purpose.
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