3 Pro Tips For Choosing Your Niche
If you want to start a business based on your passions, the first step is to zero in on your niche. This is important so that people see you as the expert in your area. You want to become the go-to person in your particular niche. It also means the potential for higher profits.
The more specific your niche, the better.
As an example, think of how much your family doctor gets paid compared to a brain surgeon who has a specialty in understanding the human brain. Yes, the family doctor will reach a broad market and the brain surgeon will have a much smaller group of people that she appeals to. But the people that she appeals to will be saying, 'Yes, this person is for me and I am willing to pay a premium price to get the knowledge'.
When people know that you're the go-to person for a particular thing then you no longer have to keep chasing clients. They will come to you.
I found this difficult for a long time because I didn't want to choose the wrong group of people. I put so much pressure on myself to get it right. What I didn't realise was that I was wasting time trying to find the perfect niche when I could have been focusing on profit-generating activities.
So that's why I have some tips to stop you from making the same mistakes that I did. Here we go:
So the first thing I want you to know in finding a niche is that progress is more important than perfection. Progress over perfection.
The second thing that I want you to know is that it's okay if you don't get your niche right the first time. I started out teaching wellness to university students. That brought together my passions and skills at that point in time. Now, however, I'm empowering millennials to start online businesses based on their passions and it's totally okay that it's different from before. Of course, you’re going to develop over time and so will your business.
Leading on from what I was just saying, the third thing that I want to say is that it’s a great idea to experiment. if you think that stay-at-home Mum’s are your ideal customers then sit down with a mother and discuss your ideas. Invite your ideal customer to coffee and see whether you'd enjoy working with someone like that. Maybe, you'll find out that you actually prefer to work with Mum’s in the corporate world.
Let's make this easy
Now, I know that there is a lot to think about when starting a blog. So I created an eBook that breaks it down into seven easy steps including more info on finding your niche. The book is called, 'How To Start A Blog In 7 Days That Profits Fast'. One reader went from confused about her niche to gaining massive clarity. She now has over 1000 followers and people jumping to buy her stuff. Start reading the book here.
So I hope that has brought you some clarity on finding your niche.
Now I want to hear from you, leave a comment and let me know your biggest insight from this video. Have you decided on your niche?
I can’t wait to find out!
Thank you so much for watching and I’ll catch you next week for another video to empower you to turn your passions to profits.