Picking a niche – scary but oh so worth it!

by Michele on June 17, 2011

Picking a niche will help your business

Picking a niche will help your business

One of the first things I often tackle with a new client is the question of who they serve.  For so many reasons, getting clear on this is one of the most crucial factors in whether your business succeeds or fails.  For starters, here are just some of the benefits of picking a niche:

  • It makes it clear to anyone you communicate with whether you’re a good fit for them or not, and makes it easy for people to refer business to you
  • It allows you to establish yourself as the go-to person for that niche
  • It helps you find the people you want to market to
  • It makes writing your marketing copy much easier because you know who you are trying to reach
  • It narrows your focus for your own training and research

There are loads more benefits, but I think just the points above make a solid case for picking a niche.  So why are we solopreneurs so hesitant to do it?

Quite frankly, it can feel really scary.  Especially when we are first getting started and clients are scarce, it might feel foolish and risky to declare that you only work with certain people.  It feels like you’re cutting off the vast majority of options and leaving only a tiny sliver for yourself.

This thinking isn’t really accurate though…. there’s no law against serving people outside your niche, but if you don’t pick something you might not have a business.  In a way, you are cutting off a lot of options in that you will no longer be reaching out to everyone but only to your niche.  The thing to look at though is not the huge number of options you are cutting off but in the number left.  You don’t need an infinite or even a huge number of people in your niche to build a successful business.  You need some, you need enough, but you don’t need everyone in the world.

I invite you to take a look at your business and see if you chosen a niche.  If not, think about doing it.  If it feels scary or risky, consider the impact that not doing it may have.  If you need help in this area, I’d love to work on it with you.  Click here to schedule a call with me.

Leave a comment telling me about your niche, how you picked it and how it’s worked out for you.

Comments

  1. Don Talbert says:

    Hi Michele,
    I chose a niche to set myself apart from the coaching crowd. There are so many business coaches, it’s difficult for one to break away from the crowd. My specialties of networking and sales coaching/training, align well with skills I have developed over time. They are skills everyone can use.
    I am also going to change the business name to reflect my niche. That will separate me from the crowd even more, as the new name includes the niche in which I work.
    I would encourage anyone with specialized skills or unique life/business experiences, to consider a niche for their business.

    1. Michele says:

      Don,
      Good point about how a niche sets you apart. I think it makes it easier to become the “go to” person for that niche. Michele

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