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Cartoon: woman claims niche on ledge

Differentiating Your Business Means Taking a Risk

By Jeffrey Baumgartner

Differentiating your business means taking a risk. You need to find a unique niche and declare it as your own. You need to walk away from the safety of groupthink and embrace your own thinking. It's scary. Your niche may not prove profitable. Other business owners may laugh at you; they may even tell your business idea is stupid. But that is mostly because they are scared you may be right and they may be wrong. It is easier to laugh at pioneers than to be a pioneer.

It is scary and lonely to differentiate your business from the security of a common business concept. It is scary to claim your own niche and hope that it succeeds.

But, do you know what is even scarier? Spending years at the helm of a stagnant business that is indistinguishable from the competition, readily forgotten and boring as hell.

Sure, staking out a claim for your unique niche is a risk. But the rewards are tremendous. Doubt me? Ask Bill Gates, Mark Zuckerberg or Elon Musk.

 

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Erps-Kwerps, Belgium
August 2016

 

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Jeffrey Baumgartner
Bwiti bvba

Erps-Kwerps (near Leuven & Brussels) Belgium