Niche Finder Service, Gareth Wong's Home Page

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Industry endorsements of Gareth

::: Famous companies that found the niche (invariably 'created' a market), for example, in the airline industry:

* SouthWest Airlines, created the genre of discounted airline & the customer centric ethos

* Virgin Airlines, created 'end-to-end' high quality service (re-segmented the business travel sector)

* easyJet/Ryan Air, created a cut-price genre in UK/EU, which many emulated

Some may argue that "niche finding" is essentially "positioning" and/ or "re-positioning", I agree in so far as they achieve potentially similar end result.

However, I would assert that the above examples took aim at the 'end result' or vision, as "niche find" put more onus on the business employing a new 'vision' or "raison d'être" or 'to change' much more dramatically to get the maximum benefit. Rather than just 'selling differently' what one has got already.

I personally specialised in "niche finding", as I firmly believe that it may be more hard work, but the upside will be more than worth it.

::: 5 Key steps of niche finding

1.) Study the "market" (environment, trends, competitors, positioning, industry drivers, value chain and alternatives)

2.) Identify the "target market", their drivers, key 'needs/wants/pain' which your products/services can help

3.) How will the market change in terms of the market/spending drivers (e.g. any environmental change like deregulations; can you induce such change?)

4.) Devise strategy and check with the target market and run some market research.

5.) Prototype and test trial if possible, concurrently devise plan for launch and get possible stakeholders (also those key partners in the value chain) involved.

:::

Why not email me to arrange for the first initial FREE consultation (10-30 mins)?

My domain expertise is in medium to high cost software & services within B2B markets (EMEA & Asia Pacific), I also have extensive knowledge within the gaming/gambling market.

Before you call, please email (garethcxo.org) me a brief summary of your business (including your understanding of your offerings/competitors/ etc.)

Typical Rates:

1.) Short term projects: £970/day

2.) Long Term projects (6mths+): £750/day

3.) For special opportunities (e.g. as board advisor) of a company with the vision I share, good management or potential, I am happy to consider offers.

Niche Finder Service

For all the years I have been working in sales and business development roles within international technology and telecom (from multi-national corporate to start-up operations), I have found that the best products and services are those that are devised specifically to fill a market gap.

One could charge a justifiable (though not extortionate) premium for the products that can help companies or consumers to alleviate or mitigate their business/personal pains, or those that make their lives easier.

Click here to go straight to information on a risk free first consultation.

Why should any company need to 'niche find'??

Some companies' offerings are led by technical excellence or led by previous successes (spin off, or patented technology), however, when their products or services are launched, some found that there was still an uphill struggle to find, target or successfully sell their products or services.

This could be due to various reasons from environmental, competition or indeed the market (and their clients) may have moved on and their needs may have changed.

Therefore, 'Niche Finding' is the reverse of the above process, as it is a 'market led' approach.

Is this a 'positioning' exercise?

Yes and no.

One needs to use 'positioning' to explain to target audiences how your products and services fit in the jigsaw of the market (as a provider and against other competition, alternatives and substitutes).

However, Niche Finding is the step before that.

What is 'Niche Finding' then?

Niche Finding is a rather involved and at times time-consuming process, as it has to be done 100% right, not a half-hearted effort, as it could waste one's time and resources.

Companies usually go through this process either at the start-up stage, or when the company hits major problems (usually either at the brink of bankruptcy, or indeed may be carried out by the external administrator). It would take a very prudent and forward looking company to adopt this as an ingrained business process.

Certain big companies adopt certain business targets/measurements to 'impel' their business managers to niche find (usually by giving high incremental bottom line targets). At an operational level, Japanese companies adopted 'quality circle' back in the 80's and similarly, GE devised and ran the company-wide 'six sigma' management system.

"Niche Finding" for me is a top down or carte blanche approach to look at the whole business, by taking into account the existing business (strengths & weakness), industry environment, competition (their niche/positioning, SWOTs) and industry drivers/ trends etc.

The end result is that a three dimensional 'moving snapshot' is taken of the industry. Comparing and contrasting the company's internal plans/strategies, one could then see where the market/industry gaps and opportunities are.

What are the benefits?

The end result is that the company and its senior management can then devise consistent business strategies/plans which gives the company a direction and vision to see it through the coming months and years.

Based on the comprehensive understanding of the internal/external dynamics and environment drivers/ trends, the company's strategies will prove to be robust and consistent.

The growth of the company will only be yet another great success story, but that is as long as the plan is implemented properly and the company and their personnel are adequately motivated.

Why should we choose you?

The reason is simple, as the alternative is to hire the very costly corporate strategy consultant (like McKinsey, BCG etc.) who comes in and gets out again. With me, you get value for money (comparatively) and there is the option of using the strategy to formulate the implementation plan (and the associated hire/interim management). As you might imagine, the follow through is definitely as important (if not more so), I am happy to be retained or be involved in some way after the first niche find project.

Plus the fact that I have senior contacts/connections and in-depth understanding of the TMT [Telecom, Media and Technology], banking, and gaming/gambling markets.

If I am not able to assist, I also have other connections/ contacts that I can introduce to help your businesses either as part of this service or in a pay-it-forward basis.

Some feedback on Gareth's capability posted on the professional network LinkedIn

See: Industry endorsements of Gareth