Looking for the perfect niche? Overwhelmed with all the information out there? Procrastinating on starting your business because of that? This might help.
Tune into the episode below:
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Show Notes:
- One of the questions I get asked the most about business
- Why you aren’t actually stuck
- The one uncomfortable thing most aspiring entrepreneurs stay away from
- What advise I give to bloggers who want to pick the right niche
- How important is passion when choosing a niche
- How to make your first sales as a course creator
- Niches with high or low competition, which one is better
- How a small niche makes your marketing simpler
Mentioned:
Transcript
Today’s topic is inspired by the fact that I just finalized The Bold Niche Masterclass, where I shared my 4-step formula for discovering your magic and building a business around it. That’s your why, mission statement, ideal client and niche.
I gave an example in the training of a student of mine who literally spent years trying to find his niche. None of the courses he took satisfied him in that aspect. He was putting so much pressure into it, was overwhelmed by what different experts were saying, wanted to find the perfect niche before he started putting in any work, and so on.
I helped him uncover what was right in front of his eyes but which he wasn’t seeing. That took his overwhelm away quickly and he was motivated to actually start that blog and business he’s been thinking about for years.
So today I want to help you do the same.
By the way, that masterclass is only available as a bonus inside Bold Business School – my program for course creators that also covers all the other elements that go into building a digital product business set up for unlimited freedom.
Doors open for the very first time and at the lowest price ever only to those on the waitlist at the end of this month. Join the waitlist here.
Are you guilty of spending weeks, months or even years looking for the perfect niche? And is that stopping you from actually starting or growing your business?
I get many questions from my readers, listeners and course students but one definitely stands out – they not just want to find their niche first but somehow want evidence that it will work out and it’s the ideal niche. As if that itself will make their business profitable.
This question was popping up all the time when I was teaching bloggers. They wanted to know their blog niche before they buy their domain and write any content. Same now that I’m teaching course creators how to launch the dream offer to their audience and build a digital product business around it. They also need the one niche that’s perfect for them so they can get to work.
But this aim for perfectionism and evidence leads to excuses, procrastination, overthinking, comparing, and just never actually doing the work.
If that’s you, know that you are not alone. Here are a few things I wanna remind you of that will hopefully get you out of this trap and get you closer to working on your business.
You already know your niche.
You just need to remove the distractions such as expectations, fear, self-doubt. When you tune into your intuition, you will discover your magic.
This is a mental trap only.
You aren’t actually stuck. There’s something about the situation that brings you safety or comfort, and that’s why you stay where you are.
You might say and even believe on a conscious level that you are trying to define your niche and hope it happens soon. But subconsciously, you’re sabotaging yourself and no niche seems to be perfect enough for you. You want to get it right from day 1 or not start a business at all.
What can get you out of the situation is action.
Not the perfectly planned out, strategic action that will produce results you might be envisioning, but the messy one. The action most aspiring entrepreneurs stay away from because it’s uncomfortable, they aren’t sure where it will take them, how it will feel or if it’s even worth it.
But here’s the thing – that action will teach you more than your current process of trying to find your niche. You’ll find out that either something works or it doesn’t. In any case, it’s getting you to the business you dream about building.
You’ll also find out how you feel about all this.
When I was mentoring bloggers, I’d tell them to stop looking for the perfect niche, and instead start a blog with a more general name or use their name and begin publishing content. I encouraged them to just get their message out there and notice how they feel about the categories they cover, whether they have a lot more to say about it, if there’s response and interest from people.
All this gives them immediate data to work with from here on and make the next decisions more calculated.
I like to use my story as an example for this. Back in 2013 when I started my blog letsreachsuccess.com, I didn’t know how to turn it into a business but I knew what I was passionate about. So I just started writing about it.
The passion element plays a big role in building an audience of engaged people and sticking to your chosen niche and business model long enough to make it work. So definitely choose a subject you deeply care about because you’re about to master it and dedicate all your time to it so you can teach others pretty soon and even create paid offers on it.
I later switched to business topics but kept the same domain name. Let that be your reminder that it’s okay to change direction and that you don’t need to get everything right from the start. Both niches I covered were right at the time, but I changed and so did my vision over the years, so create space in your business for that too.
Today, I’m still using the same blog as the foundation for all my content and branding and it works pretty well. I have no regrets and that brand still feels so right, even if my goals and the business model have evolved.
If you’re an aspiring course creator, do the same.
Start creating content on the topic you absolutely love talking about with your friends and anyone that would listen. The thing you can write about or record podcast episodes or make videos about without ever getting bored.
That itself is a solid content strategy because you’re in it for the long haul.
Your content will attract the right people, you’ll show up consistently and build trust. You can start an email list and get your most engaged followers there. And when you feel ready, you can make them an offer that they will be dying to grab.
That can be your paid program and guess what? You can sell it before you even create it, by simply sending a few emails to your email list.
They already know, like and trust you, so if you nailed the course topic and the offer, you will make your first sales. All this without spending months trying to figure out the ideal niche.
If you want help with all this, make sure you join me in Bold Business School because that’s exactly what I’ll be teaching you there – how to start and grow an email list, form relationships through your content, come up with the perfect offer, pre-sell it, and so much more.
Another concern that often arises when picking a niche is competition.
You might either be worried that there isn’t much so you won’t make money with this topic. Or that there are too many other business owners doing this already and talking about the same subject and selling offers in that category so you can’t possibly build a big business like theirs and get customers.
But I’ve been in business for a while and have noticed that first, competition shows us there is demand and it’s great. Others have already done the market research for you. If many people are interested in that topic already and if they are buying programs in that niche, that means you can also enter it and after creating something valuable and building an audience, you can expect profit.
Benefits of a small niche
A small niche though is something I was overlooking back in the days but now I’m a big fan of it. Especially in the course business, you can create a program on literally anything and you don’t need a big email list to have a successful launch.
I know plenty of course creators who made 5 figures in their first launch with just 100 or a couple hundred subscribers on their list. But these were the right people and the program was so specific that there was no doubt it was exactly what they were looking for.
This also makes your whole marketing much simpler. You only need to discuss the pain points of your audience related to that topic. You can only solve one problem with your course but do it well. You can easily think of the exact topics of your free content and just stick to one category, become an expert in it and build a name for yourself in that niche.
You can become the go-to person for anything related to that one thing, people can refer you to others looking for help with the same. And when they want to work with you – and many will directly ask you for that – your paid program can be the answer you give every time.
I hope all this takes some of the pressure of choosing a niche away and inspires you to actually get to work and create content, or start that blog, plan that offer, or anything else that moves the needle forward.
I’d love to hear what you think about all that and if you have any questions related to your niche or digital products and business in general. Reach out on Instagram @letsreachsuccess and let’s chat about it.
