First of all what exactly is a niche? A niche is a focus on a particular segment of a broader market. It’s choosing to serve a particular set of customers. Once you have identified your niche you will have to narrow your niche down and get very specific. The more specific you are the more you are then able to specialize in that specific niche and establish yourself as an expert. It is also how you differentiate yourself from your competition. Some niches are more lucrative then others and some are more saturated.
If you attempt to serve everyone you will end up serving no one. When you try to sell to a bunch of people you end up with random people who are not really your audience. This is a common theme with some entrepreneurs starting up their business, they fear they might be missing out on potential sales. I know this because this was me and I had to spend some time seeking clarity on who I wanted to serve and how. I knew I wanted to serve females but when my daughter came along it was a game-changer and I knew I wanted to incorporate entrepreneurship and motherhood.
The more specific you are the more you are then able to specialize in that specific niche and establish yourself as an expert. It is also how you differentiate yourself from your competition. When choosing a particular niche it can be very broad that is why you need to be specific, an example of a niche would be beauty and then to sub-niche would be skincare and to niche, down even further would be sustainable skincare.
Just choosing a niche based on its popularity does not mean it will automatically be profitable for you. A business takes time to grow and if you aren’t passionate about it you will burn out before you’ve had a chance to reap any kind of benefit or make any money. Make a list of all the things you passionate about and then narrow down how you can monetize it, basically what problem are you going to solve within your niche.
Ways to find our niche
Make a list of everything you passionate about.
Make a list of all your strengths, These are the things you naturally good at.
Ask yourself what value do you want to bring to others? How do you want to help other people?
List of niches
Beauty, Fashion, Parenting, Pets, Education, Technology, Travel, Business, Health.
- Special needs children
- Online teaching
So in essence, yes you definitely do need a niche and I hope my post helped you understand why it is important to choose a niche. Have you already chosen a niche or is that still something you working towards. I would love some feedback on where you currently are in your journey or if you are still deciding on a niche.