My Top 3 Ways to Identify Your Niche
My husband and I like to spend time on our boat in the summer. Since we just put it in the water a couple of weeks ago, I had a chance to look at the bottom of it while my husband was working on it. As any boater or sailor knows, one of the most important parts of a boat is the rudder. It is what gives the boat direction.
That’s what a niche does for your business.
Much like a rudder, a niche will send your business in a specific direction, which will open up amazing opportunities for you!
Here are my top 3 ways to identify your niche:
- What skills/experiences do you already have on board? (Pardon the boat pun!) Consider your own background and the challenges you have overcome to help you find your niche. Ex: If you are a wellness coach without a niche, did you have a problem that you solved? Maybe you lost weight or solved a digestive issue with your own process. Losing weight or digestion may be your niche!
- Who do you want to talk to? While we will chat more about your ideal client on Wednesday, knowing your audience may easily niche you down. Ex: Let’s say you are a relationship coach. If you prefer dealing with people healing after a divorce, you’ve got your niche!
- What do you love that people will PAY for? I’m gonna get real here for a second – things that people WON’T pay for that you love are likely a hobby. I love to dance around my house, but let me tell you, no one in their right mind is going to pay me to dance! Look for the intersection between talent and passion here. The accountant that I bumped into on the plane a couple weeks ago has talent in accounting and loves animals. That’s why being an accountant that specializes in vet clinics works for him.
Here’s my only caution – remember that a niche is a work-in-progress. You may start off with one niche and then have to change it. That is okay. Just hold the mindset that it is all an experiment!