Added new niche content on 2/8/2022. I have had too many clients stuck in perfection paralysis mode and it’s time to know for sure, that nobody hits the target from day #1. Perfection leads to worry and therefore stuckness. I hope this updated article can be of service to you.
Attention: Worried about choosing the right niche?
Beware of perfection procrastination.
You’re not alone. Many people feel they need to find the perfect target audience to make the most money. Therefore, they spend time researching and interviewing to come out of the gate 100% perfect.
However, we know that what we create will never be just right for those of us who are perfectionists.
Therefore, in the meantime, we tend to market to everyone.
We hide. And when we hide, we get lost in the mix of other competitors who look and brand just like us.
What are you afraid of?
Failure? Wasting your time? Success?
Please don’t let fears get you down.
YES. You can trust the process of aiming for a niche ~ a lucrative, well-paying niche. However, to do this, you must let go of perfection. Entrepreneurship is never a straight line. Even experienced business owners need to stay flexible. Write in pencil, never pen!
The process for finding a niche is this.
- When you first start, choose a niche that you’re passionate about. Perhaps it’s a nurturing industry. Maybe it’s for a group of people you relate to, and you want to help them overcome a problem.
- Over 2-3 months, observe if this initial niche is right for you. When you speak with them, are you connecting emotionally? Meaning, is your messaging landing? And if so, are your sales conversations converting? If not, why? When you work with this group, are you as excited as you thought you’d be?
- If any of these answers are a “let down” no, it’s time to go back to the drawing board. You may be tempted to market toward everyone again, hoping that those who are meant to work with you will raise their hands. But, if you have bills to pay or people to support, you can’t use this waiting method to attract business.
A Focused Niche brings Expansion
When we focus on a specific group of people, our business expands within that target audience instead of trying to appeal to “everyone.”
Knowing your target audience is vital. By deciphering what else they might need from you, you can create products and services that fill in the gaps for them. This can be incredibly profitable – and it’s less risky than going after any old market.
This doesn’t mean you abandon your original intention. This means that we reflect on it, lean into your strengths, and see how others can benefit from our strengths and skillset.
Marketing to everyone is marketing to no one.
Don’t be afraid! Remember, marketing to everyone is marketing to no one.
If you’re feeling blocked or conflicted, please reach out to me and apply for a complimentary consultation. One of my unique areas of expertise as a business coach is to help my clients increase sales. The first step in that framework is to consider a more lucrative niche.
Original content below.
Can a niche be trusted?
Many people have fears about choosing a niche because they feel as though it limits their profitability potential. This is not so. When we choose a niche, our business expands within the target audience we want VS “everyone.”
Can a niche be trusted?
Many people have fears about choosing a niche because they feel as though it limits their profitability potential. This is not so. When we choose a niche, our business expands within the target audience we want VS “everyone.”
Why have a target audience? The more you know these people, the more able you are to decipher what else they need from you. Other products? Services? Lessons?
Of all the money personalities, some are more risk-averse the others. It can be considered risky to choose a niche so I completely understand your fears!
Here’s a money personality quiz I created just in case you’re curious about where you stand with your money story.
Would you like to learn more? Find me at http://www.mymoneypivot.com.
Janet Johnson is a small business advisor and author of My Money Pivot: An Entrepreneur’s Guide to Finding & Making More Money and this educational blog. All views expressed belong solely to Ms. Johnson and do not represent the views of her employer.