Well, here’s how I like to explain it:
Imagine your industry as this giant conversation with lots of people involved in different kinds of ways. Let’s say your industry is gardening.
There are many different people creating businesses, products, services, and creating all kinds of content about gardening. But they’re not all involved in gardening in the same way. Also, there are lots of different facets to gardening. Not everyone is focusing on the same facet of gardening.
Essentially, niching is identifying the space that you occupy in this larger conversation. It is identifying and defining how you’re involved in it and what facet of your industry that you’re focusing on.