1. Some entrepreneurs think that selling to the widest market is the surest path to success; they are hesitant to go after a market niche because they're afraid that they will lose business by .......... away customers.

2. But this 'take all .......... ' approach is not very effective.

3. It is difficult to .......... out if you market your business lacking a set of distinctive prospects in mind.

4. Entering a niche means that you will not be competing with many similar companies on price alone, and if you are selling products or services customized to the needs or .......... of a specific group of customers, you can frequently charge more.

5. The procedure begins with your market research: you should analyze your competitors, your best potential customers, and your ability to serve these customers so well that they will make you their vendor of .......... .

6. Market research can be compared to sticking your .......... into the swimming pool before you plunge in.

7. After you have learned which customers you want to reach and what their needs are, you can adapt your service or product to match their needs more nearly and .......... a message that reflects your customer as well as your business.

8. To decide whether a particular niche is right for your business, ask yourself if you can .......... its identity, services and products to address that market's particular needs.

9. You should also determine whether your target market is currently .......... .

10. The more that your business specializes, the more its market will see the value of your products or services because you are .......... directly to their unique situation.