Episode 2: Sprinkles Cupcakes Founder Candace Nelson on How to Own a Niche
Meghan and I know all about the power of Sprinkles cupcakes. We are not afraid to use Red Velvet to get people’s attention in TV network or VC meetings. On one project, it was part of our strategy. I’m not sure if it was the cupcake we slammed in the car along the way to the offices or the fact that we came bringing such great goodies, but it never failed to make everybody upbeat. Without a doubt we had to know founder Candace Nelson if only for this reason. Not only has she perfected the cupcake recipe but has taken a highly niche concept - a cupcake-only bakery - to high level success in just four years. With six locations and dozens more in the works, we were dying to know how she did it. We sat down with Candace at the gorgeous NPG favorite hangout The Oceana Hotel in Santa Monica and learned her three key tips:
1. Do One Thing: We live in a country where everyone wants to do and be everything, but that’s not what creating and owning a niche is all about. Pick one thing to do and focus on it alone.
2. Do It Well: If you own a niche, you have to do it well. It took Candace two years to perfect the Sprinkles recipe and she took great care to create a specific look and feel to her brand, etc. It pays!
3. Be Distinctive: We also tend to live in a country where if one YouTube or Myspace is successful, ten identical versions of it often start-up shortly after. Always be a little different
Don’t forget to enter to WIN a free NPG goody bag. Trust us, you want this bag - there’s sexy underwear and chocolate!
What are YOUR tips for owning a niche? We (and the other entrepreneurs) would love to hear your insight below in the comments section!
