Most aspiring entrepreneurs have heard how important it is to narrow down a niche, but many don't fully understand the effect such specialization can have. The narrower your niche is, the more tightly you can focus all your business efforts. If your niche is too broad, you risk spreading yourself too thin and becoming vulnerable to a larger number of competitors.
"Niching down" is something Kevin Canning, founder of Pearls of Joy, understands very well.
In 2002 he grew tired of working on[...]