How to determine your brand’s niche market
Deciding to define yourself within narrow boundaries is a very key part of being able to market your business effectively and charge well for it. People like to work with specialists. Without a niche, you are just one more voice shouting from the crowd. I know this concept can be hard to digest (“you think about all those people who will think you don’t work with them”) but it’s a necessary distinction order to get known and get visible.
Here’s a quick exercise I did when starting my business that really helped me pass this hurdle
1) What do your current clients or referrals have in common? It could be their passion, their purpose, their hobbies, etc.
2) What is different about how you serve their needs? It could be a combination of your experience, your insight, the way that you communicate or even that you just have a magnetic personality
3) How many people that fit the above criteria live in your region or country (and would be willing to pay what you need to be profitable). If there are more people than you could possibly handle, and you have a plan to reach them, you’ve got a niche worth testing!
When I started “making money on the side” I could never turn it into a business because I didn’t have two core things, a niche and a brand. Once I got that under wraps my business took off.