Creating a thriving business starts by defining your niche. It will set you up to achieve better results, quicker and with fewer costs.
Developing a well-defined niche can take trial and error. Don't stress over starting out with a broader niche and then narrowing it down as you work with more and more clients, it's very very common.
Defining your niche requires you to face two fears. The first fear is excluding too many people who could use your services. The second is narrowing so much that there won't be enough potential clients to make your income goals.
The good news is there are hundreds of businesses with some of the oddest niches and they have created thousands and thousands of dollars.
Don't let your fears hold you back from finding the perfect niche for your business. There are too many benefits to be had from a clear niche.
Benefits of A Clear Business Niche:
- Connecting with your audience in a more valuable way is easier.
- Marketing to a smaller audience costs less.
- You can easily get a clear idea of what your audience wants/needs.
- Your marketing is more effective when you know who you're speaking to.
- Establishing yourself as an expert is easier.
- Optimizing your online marketing is easier.
- Developing products becomes easier and faster.
- You can talk more intimately with your audience instead of using general terms.
- Achieving consistent results with your clients becomes easier.
Narrowing Your Niche Also:
- gives you a higher perceived value.
- shows your customer that you are fully committed to them
- lessens your competition
- makes it easier for your friends, family, and clients to send you referrals