You’ve heard me (and lots of other people) talk about the importance of a niche.
- Credibility – It’s easier to become an expert, which allows you to gain more visibility and command higher fees
- Focus – You can focus your marketing to where your target market hangs out, which makes your marketing more effective
- Referrals – It’s so much easier to get referrals because people know who you help and what you help them with
- List Building – You can build a targeted list of your raving fans
- Joint Venture Partners – You’ll attract more joint venture partners – people who serve the same target market but offer a complementary solution
- Income – If you want to earn more leveraged income (one of my favorite things to help clients do:) you absolutely must have a clear niche. If you help everyone with everything, it’s going to be hard to fill your programs.
If you’re struggling to do any of those things – build a targeted list, sell your services, command higher fees, get more referral, attract joint venture partners, earn leveraged income – then I’m willing to bet that the lack of a clear niche is part of the problem.
So let’s do this. Let’s have a quick reality check to see if your niche (or lack thereof) is the root cause of your problems.
1. You don’t know what separates you from everyone else who does the same kind of thing
2. When you describe who you help you can only describe them in broad demographic terms, (e.g. boomer women, parents) or broad descriptions (e.g. people who are going through a transition, people who want to reduce their stress)
3. You don’t get referrals because people don’t know who you help or what you help them with
4. You want to earn leveraged income through programs (e.g. group coaching, membership program, home study programs) but because you help everyone with everything you don’t have enough people to sell them to
5. You take on clients who aren’t your favorite and don’t allow you to do your best work
6. You don’t know where your ideal clients hang out and how to reach them
7. Your list is small, not targeted and non-responsive. They don’t buy your programs or even sign up for your free stuff, like webinars and strategy sessions.
8. You struggle to write content for your website and blog
9. You can’t clearly and easily explain what you do
10. You’re investing a lot of time, energy and money but have nothing to show for it – no clients, no sales and no fun!
If you answered “yes” to 7 or more of these questions, then chances are your niche is the root cause of your problems. So now the question is, what are you going to do about it?
Are you ready to make a decision about your niche? If you’re not, what’s standing in your way? Is it hesitation to make an impulsive decision that might not pay off? I totally get that. That’s why I’m a big believer in combining intuition and analysis to make decisions.
If you know in your heart and mind that you have chosen a good niche, then I’m going to challenge you to go for it! Test it out and give it everything you have for 6 months and see how it goes.
If you don’t yet know in your heart and mind that you have a good niche, then it’s time to get clear. Click here to get your free Niche Success Kit
I ididn’t score 7, but I did get five. Definitely food for thought,
Thanks for your feedback Cassandra. I was considering using a 5 vs. a 7 – I think you may be right that that is a good number to use to indicate that your niche could be at the root of your problems.
I only have a list of 16. Working full time, in school, family, so much after launching Jan 1.
My 1st workshop is early August. So I’m going through the process for that.
6, 7, 8, 10. 8 is more due to time. But I do at times struggle for what to write. I barely get my newsletter done, but I do.
my niche: As a health coach I am passionate about teaching, guiding and
supporting woman, especially moms, with debilitating dis-ease how to live their lives without overwhelm, and pain, with understanding and healing in the context of a life they choose, not manage, for a happy, positive and healthy life.
Hi Barbara – thanks for sharing and congratulations on your workshop! I took a peek at your website and one of the key reasons your list is still small is that I didn’t see a giveaway you offered – e.g. something valuable for your target market that they get in exchange for their email address. You want to create that Magic Giveaway and then make that prominent on every page of your site, especially the home page.
I hope that helps and thanks again for sharing your thoughts. I appreciate you!
Yes. I don’t. Thank you. Yikes! And I knew that was supposed to be there, I have the report. This will be done this weekend.
Congratulations on taking fast action Barbara!
I scored 4. My main problem is building a database and knowing where they hang out? As they are everywhere I think? Also at present I’m still quite broad in what I do. Should just be Financial Coaching..
Angela – thanks for doing the quiz and sharing that! I took a peek at your website, and you need a valuable giveaway that is aimed directly at your ideal client. Just offering a newsletter isn’t generally enough incentive for people to give you their email address. If you’re still quite broad about what you do then it would be good to get clearer focus so you can build a targeted list of your favorite clients! I hope that helps:)
warm wishes,
Cindy
I said yes to 4, I’m comfortable with my specialized niche and my credentials/expertise as a recognized expert. I’ve been doing in-depth strategic planning to help clarify, avoid overwhelm, and most importantly prioritize the order in which I do my work. My challenges are website not done (am working with my designer) so negligible list (although I have an extensive following I can tap from my related blog website), deciding on my giveaway gift for list-building. In the meantime I have begun approaching ‘live’ academic prospects and already have a contract for one full day’s consulting for full fee in September. I think I’m on the right track, but feel there’s more to learn as this unfolds.
Congratulations Linda! I love how you’re taking action without waiting for things to be perfect. And there’s always more to learn:) By the way, I was an expat as well – in Holland, Vietnam and Singapore. I look forward to learning more about you and your business.