This is for you if you’re looking for a thorough definition of what niche is. We’ll face the No1 misconception that holds us back from going ALL the way to tightly define our niche. I’ll also describe how you can use the camera pan technique to zoom into your niche.
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1. A niche is NOT small. Can you think of it as an inch wide and a mile deep?
Don’t discard a potential niche as “too small” for yourself. Don’t make this cardinal mistake when it comes to business. I get it, we refuse to get specific in our business offering. We define ourselves as wide as possible and hurl ourselves with arms outstretched into the sea of same-ys.
Here’s a secret, This is a trap.
We can’t help but attempt to give our offerings mass appeal in the hope to sell to “everyone”, using generic language so we don’t offend anybody. Coming up with a bland message in the process.
And here’s the terrible thing. So many entrepreneurs do this, but they’re in denial! They’re alienating the people that are meant for them.
This is normal. We do this out of a human reflex to go bigger. The wider the net, the bigger chance to catch a fish.
The problem? It ain’t working like this. The more specific we get, the more personality we show, the easier it is for our people to find us.
I want to challenge you to set aside an afternoon this week to check how tightly defined your niche is and then dive deep into it, getting out all the offerings and content opportunities that lie within.
2. A tightly defined niche is the best you can do for your business
When you look around you see that most successful entrepreneurs have highly specialised offerings, at least when they start out. We want to make sure we get traction as fast as we can and this is best done focused on the “one inch wide” niche.
Yes, you can be multi-passionate by all means (and yes, it’s possible that you’ll offer other things too) but on your shop front, on your sell, you better be highly defined. You want people to recognise and remember you.
Advertise yourself too broadly and you’ll find it tricky to get any clients. Let’s look at the example “business coach”. Taken just by itself the title “business coach” won’t be a client magnet.
Go a bit further a bit more defined, and say you’re a sales coach for mom bosses, focussing on one problem for a specific person in the business coach landscape and suddenly you got a lot of the mom bosses pricking their ears and following along. They hear you because you’re so niche you’re speaking directly to them.
Communicate with your niche audience and people will know that your offer is made for them, it’s what they need right now. On the flip side, you’ll know exactly who to target in your marketing.
This principle works again and again and it’s what makes having a niche so desirable – and profitable.
Here’s a quick example for you. Hear Kacy’s story. She’s a marketing coach. One evening she decided to try something out.
She went on her profile and changed it from “marketing coach” to “webinar marketing strategist”. The next morning she
“woke up to two DM’s from women who saw my bio in the directory and wanted to know more about my services! That has NEVER happened so effortlessly before. Not sure if they will become paying clients yet, but I’m still excited to get targeted leads so easily.”
Could I tempt you to make a pledge right now? Make a commitment to yourself to take the niche finding as serious as it is. Focus on your one inch, covet it, get all nerdy over it, go the mile with it.
This is the foundation for everything: your offerings, your communications, where you’ll show up, how you’ll show up. Your niche is the burning heart of your business. I want you to define and own this core and let the world know about it.
3. Two approaches to niching
This is starting to sound appealing isn’t it? Still, there’s so much confusion and resistance around finding your niche and keeping it profitable on an ongoing basis.
Entrepreneurs get paralyzed and overwhelmed because they have no idea where to start (stay close and I’ll show you!)
Let’s look at different approaches in the business strategy industry to niche finding: there’s one school of thought suggesting that we let the niche come to us. They’ll tell you unblinkingly that your niche will find you.
What? Wait for your niche to find you? Living in the question to this extent pulls the rug out from a lot of entrepreneurs.
They’re ready to take action. They wanna create and carve out their niche, look for and find their niche, settle into it, then expand it, even dominate it.
Let’s not forget that we don’t have to go with one or the other approach. Both have their place. I like to blend these two together. Yes, let the niche find you and go with the client who pays you today instead of only trying to attract the client you don’t have yet.
Yet, get out there, pull your sleeves up and carve out something that suits you: choose a business area in line with your talents, personality, experience, what you’re obsessed about, that reflects YOU.
And take it from there. Be open to what your people want. It’s ok to tweak your offering to market needs. You’re a business and sometimes you have to do what you can. But do make sure the base of your business is grounded in what you LOVE.
How not to trip up in your niche
We want zero overwhelm in our life, zero drama, so let’s have a reality check about niche finding so we know what to expect.
The fastest way to eliminate drama is to accept that finding your niche is an art not a science.
A niche is a place that only the decisive will reach. Committing to it will cut off other directions we could have pursued.
A niche is never set in stone, it LIVES. As time goes by your niche is always morphing because markets and trends ebb and flow. The market requires you to stay tuned to it, checking it from time to time for new developments. That’s why you need to be so passionate about your niche.
We want you to enjoy this work. Looking after your niche is an ongoing occupation that’s why we need to educate ourselves to keep up and find joy in it. So stay close because I’m going to show you how to do this
Zooming into the niche
To understand what a niche is I like to zoom in on it like a camera. Let’s travel through the business universe from mega to niche.
What is a mega niche
A mega niche serves as a starting point from where you get increasingly more specific and niche down.
Mega niches are big containers of different areas of commerce, based on different human experiences and needs
- HEALTH & WELLNESS
- LOVE & RELATIONSHIPS
- BUSINESS, CAREER & MONEY
- PERSONAL DEVELOPMENT
- PHYSICAL GOODS & SERVICES
Let’s zoom into the niche
Looking at the Business, Career, Money Mega Niche we can see there are many smaller niches within this mega niche container, for example:
- Accounting services
- Coworking spaces
- Business software
- Business coaches
Let’s dive into the BUSINESS, CAREER & MONEY > BUSINESS COACHES and inside this niche we discover
- Facebook Ads Strategist
- Money Mindset Coach
- Accountability Coach
Summary: What is a niche (definition)
In its essence a niche is the way you solve a specific problem for a specific person in a way that is unique to you
Cambridge dictionary defines niche as “an opportunity for a business to offer a product or service that is not offered by other businesses”
And in order to be as unique as possible we need to show up with our full personality, story, values and quirks. Don’t hide. Be you. Solve a specific problem for a specific person.
Success will be inevitable.
And don’t forget: we can’t be specific enough with our proposition. Especially, because we will cross check your niche against my checklist that will show you whether your niche will still be profitable.
Basically, we want a vetted niche, it’s the ideal start position for your first few years of business. Your limited budget will be sufficient to reach this small segment of the market
And you know the niche so well, that very personable marketing strategies will be successful so that you gain considerable traction and make enough money
You can always pivot or expand your niche a bit after you’ve gained momentum
0:00 About this episode
01:18 Niche definition
02:16 What a niche is NOT
03:14 Why we’re obsessed with niching (and a word of warning!)
05:35 Kacy’s story
06:56 Stress, resistance and denial around niching
07:39 This 1 mistake stops us from niching – and what to do about it
08:25 Do people truly GET what you do?
09:11 Leave niching confusion behind for good
11:18 Eliminate niching drama and overwhelm
13:22 Visual journey from mega niche to your niche
18:47 A special podcast launch offer (only 10 spaces available!)
 How to make sure your niche is profitable (10 question Checklist)
Click here to find out how I can help you with your niche.