Write a Great Niche Statement for a New Business Startup

Define your niche for your startup

Sometimes it seems as if the “to do” list never ends when you’re starting up a new business. You’ve figured out who your niche target is, what their pressing problem is, how your product or service provides the perfect solution, and you’re still not done. Now you need to put all that into a niche statement for your startup.

Why? Because you want to make sure your business stands head and shoulders above the competition. You need to be able to pull out that niche statement and use it in many ways to attract customers and define your company to the world.

A good niche statement highlights what’s special about your business. It expresses your unique selling position to the world and lets your target niche know what you can deliver.

Want to make sure you, not someone else, gets the lion’s share of your niche’s attention?  Just follow these guidelines, and you will!

Start by reading the do’s and don’ts for a niche statement. Then, fill out the niche statement formula / template. And see the example of a niche statement at the end of this article.

Do’s and Don’ts for Your Niche Statement

There are some simple do’s and don’ts to follow when writing a niche statement for your startup.

First, the do’s.  In a good niche statement:

  • DO clearly state who your target niche is.
  • DO specifically name the problem people in your niche have that you will solve.

The key to clearly stating your target niche is to describe your niche so explicitly that they readily recognize themselves. For this reason, it’s important that you clearly and concisely name your niche using their language.

Then, when you specifically name the problem they’re having, they don’t have to wonder if you can help them or not. They’ll know you can.

“The beauty of this is that probably 95% of your marketing is done right there,” says Samantha Hartley of Enlightened Marketing. “Because, if you tell people you understand their problem and you say it in such a way that they get that you do, then they immediately perceive and assume that you can solve their problem.”

Now for the don’ts.  In your niche statement:

  • DON’T talk about your niche. Name it. Clearly and concisely.
  • DON’T try to be all things to all people. The whole point of a niche is to include only certain people and leave others out.

Niche Statement Formula or Template

A niche statement follows a certain format or formula.  There are just four things you need to include in your niche statement:

  • Your niche
  • Their problem
  • Your solution
  • Your promise

Stated simply, the niche statement formula is as follows:

niche + problem + solution + promise = success

Here’s what it looks like in more detail:

I/we work with __________________________(your niche),

who haven’t/need to ____________________ (their problem).

If you’re ready to/it’s time to _____________ (your solution),

I/we can/will ___________________________ (your promise).

Example of Niche Statement

Below is an example of a niche statement. In other words, here’s what the niche statement formula looks like when it’s fleshed-out:

“I work with women starting up home-based businesses for the very first time (niche) who are feeling both excited and overwhelmed at the prospect and haven’t a clue where to begin (problem). If you are ready to take the first steps toward owning your own business (solution), I can help you decide what business would be best for you, identify your target niche, and get your business ready to launch (promise).”

There are so many things to do when starting up a new business. The “to do” list is endless. Don’t sabotage your new business start-up by neglecting to write your niche statement.

Follow these simple do’s and don’ts, and use the niche statement formula to announce your unique selling position to the world.

Then get your target niche’s attention, and get ahead of the competition.

Susan L Reid Dr. Susan L. Reid is a business coach and consultant for entrepreneurial women starting up businesses. She is the author of "Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success." Her website is Alkamae.com.