What “niche” do you want to be in?

Biz 101
What "niche" do you want to be in? | Student FinTech

If you have ever watched the popular ABC entrepreneur show, “Shark Tank,” you will notice they often mention the word “niche.” A niche is a specific area usually referring to business industry types that focus on a particular type of product or service. 

America (and the world) needs more entrepreneurs who have unique skills and ability to contribute to a specific niche area. President Trump has been working to provide many new opportunities for young entrepreneurs to encourage them to build a bright future for themselves by focusing on what you are really good at. 

It is worth mentioning that the way internet marketing is set up to work across multiple platforms helps you survive at a higher level within a niche area because it is focused on specific target audiences. So this means that you will be able to communicate directly with your intended audience when you market to them online. 

So think about what your talents and skills are. Are you a talented musician or artist? Can you create unique graphic art that could be used in the commercial art world or other contexts? Are you a talented writer, welder, or teacher? If so, America needs you to share your skills with the country and the world. 

Start by visiting different websites to check out how they can help you focus on a particular niche area. This can be a good jumping off place to begin your search for schools, neighborhoods, and job options that you may want to consider as you start your college or technical training. 

Remember, too that not everyone is cut out for four-year college institutions. Steve Jobs, the founder of Apple, once wandered around barefooted on the Stanford University campus trying to figure out what niche he fit into. The only thing he really liked back then was Calligraphy. Then later, when he found computers and learned how to build his own, he included Calligraphy in his first computer system in the form of “fonts.” 

See, how you never know how you’ll use something you learn later to make lots of money or impact on the world? That’s why it’s important to do your best in everything you do, don’t rely on others, and think for yourself at all times. 

Steve Jobs was an independent thinker and he decided not to go through a four-year degree in college. He did not want to waste his time when he figured it out for himself what he wanted to do. So he unenrolled from his school and went home to his garage where he built his first computer. His company is now worth over $900 billion! 

What is your niche area? What is your purpose in life? How can you contribute to your own self as well as to the country and the world? This is an important aspect of one’s total educational journey and you should take the time to answer this question. 

Finding your niche is important because it allows you to focus your energy on your most profound talent areas truly and to figure out how you can promote yourself and make money with your knowledge and expertise. College and traditional universities don’t spend enough time in this area. They just assume that you already know what you want to do when you enter their university. So this is something you’ll want to think about on your own time and take the initiative to talk to an enrollment counselor or others who deal with this area of your education.

It is important not to misuse the credit cards that you get when you are a young college student. Remember, your credit is new, and you want to try to obtain and keep a great credit rating while you are still young.

Dave Ramsey is a well-known financial expert and advisor. He has a radio talk show that deals with how to get out of debt. He reminds his listeners often that they should only use credit with the intention of paying it off the next month.

There is only one credit card that requires this (American Express). But it’s a good idea to adopt this policy yourself to avoid spending more credit than you can afford to pay back within a short period. The longer you keep the credit, the longer you’ll increase your debt since you have to pay finances charges on every penny you borrow.

Do not overextend the amount of credit you borrow whether you were a new student or starting a new business. Every penny that you borrow is new debt, and this can lead to you being less solvent if you decide to start your own business or want the money to invest. It is best also to use credit cards to help you make money rather than just use them to rotate debt with a revolving credit account.