“Rich is in the Niche” is a well-known fact among companies appealing to a small, specialized section of the population.
These companies have learned by narrowing the number of products and services, it affords them more time to concentrate on quality and service. This is especially, important to start-ups wanting to move slowly and purposefully.
In brief, many businesses serving a well-targeted group with quality products and services, become extremely successful, not to mention, rich. More importantly, their products and services constantly undergo a process of continual improvement, keeping them on the cutting-edge.
Another distinction of these NICHE-pursuing companies is, they also continually update and improve their INTERNAL OPERATING PROCESSES. Consequently, using the same method of systematic improvement for their consumer products and services, they apply the same method for all internal operations. Therefore, assuring their lead status over the competition.
In fact, no matter how fast or large they grow, their products and services remain constant.
The reason is, continually improving ALL systems allows trouble-free expansion without the usual strain of disorder caused by RETURNS of poor products; also, slowdowns from poor service and employee non-conformance.
Rich Businesses Practice Niche Systems
In the context, “Rich is in the Niche,” the following four NICHE SYSTEMS will radically transform any business when practiced daily. However, NOT allowing any excuse for non-adherence is essential:
- Quality Assurance System
- Job & Service Tracking System
- Employee Daily Routine Adherence Tracking
- System Buster Locator, aka Corrective Action / Preventive Action (CAPA)
Again, just these four systems implemented systematically will revolutionize any business. In truth, ANY small business can implement these systems when making the decision to DO IT!
This is good news for small business with big plans for expanding. The best part is, it’s NOT ROCKET SCIENCE, so any small business owner with a little tenacity can do this.
Well-known Businesses Utilizing Niche Systems
Consider this company… Apple. Steve Job purposely limited their number of products. Now, most everyone believes their niche products are the best in the world.
Also, consider Starbucks, a niche company that started out supplying coffee to fine restaurants and espresso bars. Now, a worldwide ever-growing company with consistent service and multiple products.
As Starbucks’ SOP Standard Operating Procedures (systems) continually improve, they’re able to add more products, maintaining high standards to a loyal audience.
Over the years they have expanded to breakfast sandwiches, exotic teas, frappuccinos, and many other products. In fact, Starbucks expanded their products to large grocery chains.
Starbucks operates over 20,000 stores. To be certain, they know about niche systems and the process of continual improvement in all areas of their business.
How do I know?
As a loyal and a very observant coffee-loving customer for over twenty years, and a systems specialist, I’ve witnessed their expansion up close, by getting to know many managers and baristas. If fact, watching them practice their detailed written SOP – Standard Operating Procedures up-close. Thinking I should have bought stock maybe!?
Did I mention, great systems work?