Coaches and other solopreneurs, both new and experienced, often ask about how to choose the right niche. Sometimes it’s about what to start with, or how to refine your niche. Let me make this simpler for you.
In a previous post, I described the reasons it helps to choose a narrow niche for your business.
Now we’re getting down to how to know the right niche for you.
Your niche doesn’t have to be an age or gender demographic such as “50-something women.” That’s a simplistic example that can send you in the wrong direction and stay too vague.
A better niche idea is to describe people with a particular challenge. For example, your ideal audience could be parents with children at home while having aging parents to care for.
In picking a niche…You find a place where your passions, experience, and strengths meet an aching need in the marketplace.”
~Steve Mitten, Business Coach
An Easy Way to Choose Your Niche
An easy way to choose a niche is to look at everyone you’ve helped in your recent past (in your current or past work experiences) and see where you felt the most excited about the work and where you felt you had the most impact. (I did exactly this using a spreadsheet.)
If you’re creating a product that could help all kinds of people, you can still narrow your marketing to a small group. That’s niche marketing. You don’t have the budget to market to the world 🌎 so choose one small market and become known there.
Criteria for Choosing Your Niche
Ideally your niche will meet most of these criteria:
- Taps into your personal accomplishments
- Makes good use of your talents
- Easy to establish your credibility (such as having solved the same problem for yourself)
- A topic you’re excited about
- Where there is a clear need
- Defines a group you can easily reach
- Where there is a strong incentive for folks to invest in order to find a solution. (In other words, they are probably sick and tired of living with the problem and ready to deal with it.)
Look deeper than options like wedding photographer versus portrait photographer. What’s the unique perspective you bring?
I love this perspective from a successful business owner:
I think that a niche needs to have a very organic facet to it — as in, it is seeking you as much as you are seeking it. ~A.G.
How Do You Know You’ve Discovered the Right Niche?
When you choose the niche that feels right to you and your audience, your confidence grows and your marketing becomes easier. When that happens, you’ve found your niche, at least for now. Test the market before you land on the right one. I hosted a very simple focus group that helped me finalize my decision.
Can You Change Your Niche Later?
Yes, you can. In fact, let it evolve over time as you see what happens. And review your niche regularly to make sure it’s feeling good to you and your audience.
Just start somewhere that feels right. Better to start more narrow and then broaden.
All you need is to choose a “Niche for Now.” And you’re off.
If you watch your results, you’ll know if you need to adjust. If something feels stuck in your marketing, consider whether your niche needs refining.
What’s Next for Your Business?
What’s your next step? Stories and questions are welcome in the comments box below.
1 thought on “How To Choose the Right Niche for Your Business”
Val, thanks for a really good guide on how to find a niche. This is where I failed many times before.I am not very good in research and I go fora niche that I have no knowledge on.
Thanks,
Ryan