If you’re reading this, then I’m going to assume that you’re falling in one of these 2 categories:
If this is you, then please keep reading.
I want to make niche selection simpler.
Instead of searching on what people doing, let’s try a different approach to it…
First, we need to define ‘niche’ so that you and I are on the same page.
When talking about niche selection, we’re actually looking for Product/Market Fit.
Let’s further define a few terms:
A market is a group of people where their uniting factor – (that thing) which defines them as a group – is an active seeking of a solution to a problem or desire. They have a need or want… and they are looking for a solution for it. They also have the ability and a willingness to pay for that solution.
The product will be a delivery mechanism for the solution this market is seeking. It could be an info product, a physical product, a service, etc. That product will be a delivery mechanism for a TRANSFORMATION, which is moving them from their current reality to a new reality which they desire.
So, what we are looking for here is not a niche, in the sense of “what to talk about”. Instead, we’re looking for a MARKET, which is a group of people looking for a specific outcome. Then, we’re looking to find the product which directly FITS them.
At this stage, there’s two questions we need to look at here in order to arrive at this fit:
What we really do as a business owner is to give the transformation to our market, which transform from where there are to where they desire.
The transformation has to be something that can be fulfilled.
Markets which align around a transformation and something CAN be done about them are: Making money, Fitness, Dating, Health…
There are more than that. The main point is, there is a solution to the problem. Let’s take “make money” niche as example. At first, you don’t have the money and you have the money on the end. It is a direct, crystal clear and measurable outcome.
Your best markets are ones which are aligned around a transformation – and something can be done about it.
If people aren’t looking for it, it isn’t a market.
So, how can you know that people are actively looking for the solutions?
All of these thing combine to give you a strong sense of what’s happening.
At this stage, you should be thinking in terms of a MARKET instead of TOPIC. We need to know WHO we are going to serve so we can focus on our language when communicating with them. I call my market as customer avatar.
By doing this, we can keep our eyes firmly on the transformation we serve.
The list of customer avatar can go on and on, but you can clearly see that these all REAL people REAL markets, and they’re defined both by who and what they’re trying to accomplish.
You’ll have a better understanding of your MARKET in a future step of this process and you’ll get much more clarity on exactly what the transformation looks like. However, the important point here is that you need to define your niche based on the WHO and the WHAT THEY WANT.
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