Have you noticed that certain customers just resonate with you?
Maybe it’s restaurants, Doctors or Medical facilities. It’s very likely that you have a type of customer that you seem to do better with than others. This is known as a vertical market.
Finding the vertical market for you is a matter of analyzing your approach and determining if it makes more or less sense to pursue that customer type.
Many times you’ll find multiple vertical markets and there’s nothing wrong with that.
Businesses are organized in categories defined by their SIC (Standard Industrial Classification) or NAICS (North American Industry Classification System) code. The categorization of businesses is a pretty normal thing that’s been happening for a long time now.
Learning how to read this classification system can really help you understand overlapping businesses. If a business seems to just resonate well with your business, there are likely other candidates in nearby classifications that can help you grow your business.
This is one of the tools you should examine to help you grow your business. Finding the niche where your business fits best is sometimes art, sometimes science, sometimes it’s both.
