How to Choose Your Niche?

If you’re reading this, then I’m going to assume that you’re falling in one of these 2 categories:

  • You’re looking to start an online business but have no idea what your niche should be.
  • You have a blog but still concern on whether your niche is right for you.

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…

The Niche – Redefined

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:

Market

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.

Product

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:

  1. What do you have the ability to deliver?
  2. Is there a market there to deliver to?

 

The 2 Big Factors of a “Good” Market

#1 – A group of people with a common desire or problem that is able to be fulfilled.

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.

#2 – They are actively seeking a solution to that desire or problem.

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?

  • Paid advertising. If you can see paid advertising from product providers trying to reach people in that market, you know people are seeking for that particular solution.
  • Competing offers. Product providers are competing to get a customer. A market where there is no competition is scary. The presence of competition is a good indicator. The bigger the competition, the more money you can make.
  • Active communities and social groups. There are group of people talking and discussing a similar topic.

All of these thing combine to give you a strong sense of what’s happening.

 

How To Define Your Market (Not Your Topic)

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.

Define your market by WHO they are and WHAT they’re looking to achieve (customer avatar)

By doing this, we can keep our eyes firmly on the transformation we serve.

  • Here’s several examples of (WHO) and (WHAT) they’re looking to achieve:
  • Full-time employees looking to build a side hustle on the Internet
  • Small business owners who want to have a website
  • Single guys looking for a date
  • Women looking to lose weight after child birth
  • Authors looking to sell more books

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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