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Education

services. What in your existing offering can
meet or fix those needs?

• Study the competition. You may have an
excellent idea for a niche market, but you
must consider how many companies you will
compete with.

• Consider the profitability of a potential niche
market.

Targeting a specific merchant industry (such as
the lodging, medical, petroleum, utilities, B2B,
ecommerce and so on), product niche, region, or (if
you're bilingual) culture/language may make for an
excellent niche market.
Room for growth
Starting on a small scale is the best way to establish
yourself and identify your niche. It is natural for
your niche market to expand as your portfolio
grows. You can propel your business into a larger,
potentially more lucrative niche market by matching
your products and services with a narrow group of
current and potential merchants, as niche providers
typically generate buzz and positive reviews.

If you're still using a shotgun approach to prospecting,
there is a good chance you're losing merchants to
niche-focused competitors. To differentiate yourself
from the competition, please pause and consider
how you may distinguish your service from your
competitors.

By zeroing in on a specific merchant base, your
company can increase its revenue and better utilize
its other resources to win over merchants who will
benefit most from your merchant service offering.
These are the merchants who demand your product
or service the most and, as a result, are more likely to
sign with you and remain loyal clients.

Given the highly competitive nature of our market,
focusing on a niche is not only sensible but also
critical to your survival.

Natasa Cvijanovic, co-founder and CEO of Tesla Payments, has
a proven track record within the payment industry of cultivating
successful relationships with ISOs, MLSs and strategic partners.
In developing national sales channels, she provides training
and coaching to sales partners to enable them to become bet-
ter business partners and advocates for their merchants, and
to assist them in building portfolios producing steady residual
streams. She is also dedicated to consistently delivering high levels
of professionalism, integrity, dependability and trustworthiness.
Contact her at natasa@teslapayments.com.

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