How to Nail Your Niche In Business

So, you have a business or want to start a business, but you’re not sure who or what to focus on. 

Sound familiar?  

No matter what industry you are in, there is going to be competition out there.  How are you going to stand out from other people within your industry?  The best answer to this is to niche down.  

What is a Niche?  

A niche is a subset of a broader category that you specifically focus on to help solve problems.  Have you ever heard the phrase ”Jack of all trades, master of none”?  As an entrepreneur, it’s important to position yourself as somebody who really specializes in one specific area of business so that you become the go-to expert for that thing.  Remember, you’re not going to be able to serve everybody and that’s totally okay!  Go find your tribe.

4 Advantages to Niching Down

1.  Small is the new big!  

There is a big difference between being a general health coach and a health coach that specializes in helping moms create workouts and meal plans that are simple and help them gain confidence.  See what I mean?  The more specific you can get with your niche market, the better chances you’ll be able to help the right people in your business.  I challenge you today to think about your target audience and see if there is a way to get even more specific.  

 2.  Become the industry leader 

Many entrepreneurs believe that the more people that they are able to help, then the more clients they will get.  Why not become an expert in a certain area and be known as the go-to person for that?  This allows you to start attracting the right people in your direction and overall you can become pickier about who you choose to work with.  If you are a general health coach, would you rather talk to 50 people, waste time, and realize that maybe only 10 of those people were a good fit for you?  Or, would you rather have conversations with 10 people that are within your niche knowing that all of them are a good fit?  Food for thought…

3.  Build a loyal customer base

When you target a larger area of people, this can ultimately make your connections harder to make, therefore resulting in an inconsistent flow of clients.  When you strive to niche down and become the go-to expert in a smaller area, then your work becomes that much more specialized and your referral system will grow very quickly.  This also increases the chances that you’ll have repeat customers flowing back your way! 

4.  Reduce your competition

By niching down, you’ll be able to greatly reduce the competition in your industry and this is one of the best advantages!  Think about the example of the two health coaches that I addressed above.  The health coach that specializes in helping moms create workouts and meal plans to help them feel more confident does not have to worry about trying to help everyone.  She doesn’t have to worry about helping an 18-year male prepare for his body-building competition.  She doesn’t have to worry about helping a 75-year-old woman create meal plans to help her diabetes.  That’s because that is not her expertise!  So all of the moms in her target market will start flocking to her. 

Words of Advice About Narrowing Your Niche

1.  It takes time and patience

If you are a newer entrepreneur, you may not have a clear idea of what your niche is yet, and that is okay.  Instead of staying paralyzed and not helping anybody in your business, the best way to approach this is to start broad and then learn from your experience who specifically you want to help.  This can take some time and patience and is not going to happen on day 1 of launching your business!  

2.  It might take a little trial and error

You may think that you have your niche nailed down, and then realize that you are actually attracting slightly different types of people.  In this case, it’s just a matter of rephrasing your messaging so that you start attracting the right people that are within your niche.  Many entrepreneurs go through this process and I just want to assure you that this is normal.

3.  You can always change this or refine it in time

The best part about being an entrepreneur is that you have to ability to make your own rules!  If you are not happy doing work with your current niche, then change it.  But you also don’t want to be changing your niche every month…  In addition, it might take a couple of times for you to really get your niche narrowed down.  You have the power at any time to make these powerful decisions.  

I hope that you found this helpful!  I did a live training in my Facebook group, Freedom Living Female Entrepreneurs on this exact topic and also created a free worksheet for my loyal members.  If you would like access to both the live training and worksheet, just click the link above to join!  I do weekly live trainings in there on various business topics to help you start and grow your own profitable online business.