How to get started on finding your niche, with Amy Caiger

Hi there. Welcome back. So in my last video, we spoke about why you might want to start niching, what the problems around Niching might be and why Niching can really help separate you from your competitors, but also springboard you into a whole new world of opportunity. When you focus on a niche audience, the whole world opens up to you. If you're somebody that's been accustomed to operating in a local market and being a generalist and operating in a global market as a specialist can allow you to attract premium clients, premium price and is much more fulfilling. So today I want to talk about not why it's a good idea. Let's just pretend you've decided it's a good idea. Today I want to focus on how you might actually pick your niche. So let's agree that you've decided to move from being a generalist, consultant, trainer, coach, service provider, whatever it is to being a niche provider. How can you start to make that transition? What's really interesting is two people with pretty much the same skills can choose very, very different niches for very, very different reasons. So what goes into the decisions that drive that? So from my perspective, the Niching decision has three core components, and we're going to go through them one by one. The first component is you. So what do I mean by that? Well, most importantly, what is it that motivates you? What are your skills and what can you bring to bear? How can you bring value? Different people are fulfilled by different things. Some are fulfilled by a life of excitement, others by money, other by acclaim and being celebrated. Others have a sense of mission, and some simply want to borrow into their curiosity, and others want to see personal growth or business growth. Different people are motivated by different things. So really understanding what that means for you is very, very important. Hector Garcia wrote a book called The Japanese Secret to a Long and Happy Life, and it's often held up as a really good example of how to niche. But I feel personally that where it really adds value is the understanding that you part of the niche equation. Let's have a look at the Akagi diagram, and you'll see what I mean. So we have these four intersecting circles. There's what you love, what the world needs, what you can be paid for, and what you're good at. And on the boundaries of each of these, we've got passion, mission, vocation, and right in the heart of that, there's the sweet spot. It's the zone of fulfillment that's really important. But let's get practical. This is really not our niche recipe. Now with the who part of it, there's also a very important question. This part of the question matters a lot and is disregarded more often than is sensible. And that is, does this niche beat a vertical market, a person type, a location specific problem? Do they have a problem that is valuable to them to solve on the one hand. And do they have the money to actually solve it? More often than I can count. I see people decide on a niche where they just don't have the money to actually fix their problems or to engage in the transformation that you want to bring to them. So if money matters to you, picking a niche where they have the money to undertake the process you want to take them through really, really matters. Sometimes with a bit of creativity, you can blend your passion with a niche market that has the means to engage you and suddenly unlock a niche that you thought was never going to work. So the third part of the niche in question is what will you do for them? Specifically, what is the journey from pain to pain free look like? How are you going to walk them from this dark desert they're in right now into the promised land? Practically speaking, what is your service? Because your service needs to niche at the same time as the person you're nishing for. You don't want to be a generalist provider for a specific person. You want to provide a laser focused fix for a laser focused person. And once you can do that, if that person has the means to support you, then you can build a tremendous business around fixing that one problem for that one kind of person. So it's important to start honing in on what are the products and services that you're offering? What's in the box? How are you going to wrap this up in a boat so that your ideal customer can look at that and go, wow, I can't get that anywhere else. Plus, this guy is the only guy that's speaking to me in a language I understand. He is just for me, this is really important. So what's in the box and how am I going to know it's just for me? So understanding your values and what matters to you is really important. If you're mission led, then let this guide you. If you need to make money, then don't disregard a profitable niche for the sake of mission. I've done this. It's a painful place to be. There are many ways, if you are mission led, that you can be of service, but you need to be in a safe place financially in order to do that. So having a productive niche is very important. The process of Niching is difficult. It's challenging because it feels like you're saying no to so many people. You're saying yes to one person at the expense of many others. And when you're at the beginning of this journey, you will feel vulnerable. But it's important to remind you that people will not notice that you're Niching overnight. There will be a long delay between you starting to speak about your niche and serving your niche through your content and your existing customers saying, hey, he doesn't do what I need anymore that's never going to happen. What you'll find is what most people find is that they focus on niches through their content first through their communications first their existing customers continue to refer them the people who know them like them and trust them continue liking and trusting them and they will do for a very, very long time what you will find is that new audience will become new market new connections become new conversations which come to new customers. If you don't start the process of niching you will never move towards this much more profitable, much more productive, much more effective and efficient business that you could have also over time you might fall out of love with your niche. You might refine your niche. You might pivot your niche. Your niche that you picked today is not your forever niche. You will pick a niche. You will make mistakes. You will adjust. You'll refine it you'll get better at it. You'll get better at it and as you go again you become more profitable, more productive, more effective, more efficient and you will enjoy life and your business much more. So my question today do you have a niche? What is your niche? If you haven't niche, what do you find most difficult about it? If you have niche, what was the difference it made in your business? I would love to know let me know down in the comments. If you have enjoyed this video then I would love for you to give it a thumbs up and also consider subscribing and if you do also hit the Bell that way, YouTube might if they're feeling nice today send you a notification every time I post new content. My name is Bob gentle. You've been watching amplify and thank you for watching and I will see you next time. Bye.