If you are an aspiring, start-up or established Entrepreneur, Professional or person of influence and you want to supercharge your earning potential it can be an excellent idea to choose an authentic and profitable niche that is perfect for you. Finding your niche can help you to position yourself for greater personal and professional fulfillment and financial success. So, what is a niche?
A niche is a combination of these 3 elements:
1. The people to whom you specifically choose to market your services
2. The specific problem you help them to solve
3. Your unique ‘signature branded’ service offerings
There is incredible potential in defining, redefining or refining your niche because your choices will directly influence, impact and determine your ability to attract more ideal clients, referrals, and profitable opportunities. Ultimately, finding your niche will impact your ability to create a truly personalized career and the lifestyle you desire for yourself and your family. Choosing to become a specialist in a specific area of expertise can help to supercharge your earning potential and position you for greater success because you will be able to deepen your knowledge and master your skill-set.
You will naturally become masterful at understanding your target market’s challenges, frustrations, needs and desires; this enables you to create service offerings that help them to achieve the specific results they want to achieve. Conversely, choosing to be a generalist can hinder your progress and potential, or simply choosing a niche that is neither ‘authentic’ nor lucrative can also position you for potential failure. It can be challenging to choose the most authentic and lucrative niche and many people experience resistance when it comes to committing to a specific area of expertise. Often this is because they lack clarity about who they desire to serve, how and where they will find clients, what services they really want to provide and how to market and sell to their ideal clients. Clarity is key, so take the time to brainstorm!
The following questions will help you gain some clarity about choosing your most authentic and lucrative niche:
• What group of people do you most love to work with?
• Why do you love working with this group of people?
• What is the problem you love helping people to solve?
• Why is it important to you to help this group of people overcome their problems to achieve the results you help them achieve?
• Is this group of people generally committed to overcoming their problem?
• Are they willing to invest their time, energy and money into finding a solution to help them achieve what they want?
• How much are they willing to invest in themselves to achieve the results they truly desire?
If you still feel challenged in choosing a niche, I recommend spending sometime brainstorming different target markets, the specific problems they are experiencing, and the ways in which your services provide effective solutions. Sometimes it’s also beneficial to ‘just get started’ by offering your services to the target markets that you feel confident you would enjoy working with. After a period of ‘testing the market’ you will gain further clarity to enable you to make finer adjustments to your approach. Remember that clarity, confidence and experience all come from getting started and this will be sure to result in you being able to redefine or simply refine your niche to being more perfect and profitable for you.