Go for Niche (or 'Alex Hormozi is correct')
Published
In a previous post I devised a way to conditionally hide and show headers and footers in Microsoft Word using a field on a page. This was to solve a problem I was having when I was editing a book. I wrote it almost 6 months ago, and it turns out it’s the most popular post of all the others I’ve written on Medium.
For the 6 months it’s been up it has been the most popular post: 111 views and 70 reads. I know that’s insignificant compared to the big writers, but it was a surprise as I saw the numbers go up. Then I read $100M Offers by Alex Hormozi and it began to make sense.
When I was editing my book I couldn’t find a single solution to my problem about the headers and footers. There were some sources that came close, but not close enough. I pieced together a solution from trial and error and it worked. I wrote it up and posted it.
It turns out there are over 100 other people who had the same problem.
There are plenty of people writing posts about React, Vue, Angular, and other popular technologies. But there are fewer people writing about Microsoft Word. I wrote a niche post and it got more attention.
(ChatGPT still recommends using section breaks to hide and show headers and footers)
The future is in the past
A niche product is one that’s not mainstream. It’s not for everyone. It’s for a specific group of people. And those people must have it.
Which has made me think about the future of tech companies. Many of them have positioned themselves as the go-to for everyone: mainstream. Same with banks, supermarkets, and other businesses. Yes, they have a lot of customers, but they quickly attract criticism whenever they try to change their product.
Amazon is a good example. They started as a book store, then expanded to sell everything. Google started as a search engine, then also expanded to sell everything. Microsoft started as a software company, then, well you see where I’m going. I had to look it up: the first version of Microsoft Word (Winword) was released in 1989, and it cost USD $498! Back then it was a niche product, so they could charge that much.
If Microsoft wanted to change Word’s logo in the early 90s, they could have, and probably did several times. If they do that in 2024 they’d have people complain about it. There would be a petition to change it back.
Social media was the same, once. Facebook was for university students. Twitter was for SMS messages. Instagram was for photos. Now they’re all for everyone. And they’re all under heavy scrutiny whenever they try to change anything.
By being mainstream they also begin to run out of new customers. Which probably explains why they’re all trying to get into artificial intelligence, virtual reality, and other new technologies. They need to attract customers from their competitors because they already have everyone else. They’ve reached a saturation point and need to find new markets, hoping that they can get a foothold before their competitors do, and bring in new customers.
I understand that they need to grow, but they’re trying to grow too fast. 3M (Minnesota Mining and Manufacturing) started as a mining company in 1902, then moved into sandpaper and tape. Same with FujiFilm. They started as a film company, then moved into cameras, then medical imaging. They didn’t try to do everything at once. They found a niche and filled it.
And they can’t hold a candle to Kongō Gumi, a Japanese construction company - they design and build temples and shrines - founded in 578 AD and is still in business today.
3M, FujiFilm, and Kongō Gumi not only found a niche, they stayed in that niche. They didn’t try to be everything to everyone. They didn’t try to grow too fast. They grew slowly, steadily, and sustainably. And they they own their niche. These companies all outlived their founders. By creating a niche product they created a legacy.
Conclusion
Let’s say you’re starting a new tech company. Do one thing, and do it well. Don’t try to be everything to everyone. Find a niche and fill it, or fix a problem that no-one else has. Like 3M, FujiFilm, and Kongō Gumi you should grow slowly, steadily, and sustainably. Own your corner of the market and don’t be distracted by the shiny new thing.
You might not be the next Amazon, Google, or Microsoft, but you’ll be the next 3M, FujiFilm, or Kongō Gumi. You should aim to leave a legacy that will be around for a long time.