Today we’re talking about why you need to find your niche and the power of niching down – that is focusing in on serving a very specific and narrow slice of your market.
Because the tendency for many small business owners is “I wanna serve everyone – let me make my market as big as possible so I can make as many sales as possible.”
But the interesting thing is… by going broad and trying to reach everyone we can very often end up being nothing to no one.
YOUR FREE RESOURCES TO DOWNLOAD:
Finding Your Niche: 6 Thought Starter Questions
We’ve put together this list of 6 questions you want to ask yourself when you are considering how you might use the power of Niching Down.
Content Sells Recommended Reading List
The Content Sells Recommended Reading List is a list of many of our favourite books and is an ideal resource if you’re looking for book recommendations to help you grow your business. Special mention of the book called “Niche: Why The Market No Longer Favours The Mainstream” by James Harkin, which is particularly relevant to this episode.
Listen to this episode to hear more about:
- Why you need to think counter-intuitively when it comes to the size of your market
- How a Dance Studio instructor grew his business by 10X by making one simple shift to his niche
- How seeing the niche in the transport sector enabled one entrepreneur to sell his business for $680 million JUST THREE MONTHS after he started it!
- The real truth about how important specialisation is in having a high growth business (new study)
- The 5 ways you can specialise
- How serving fewer customers results in a 300% increase in sales in 48 hours for one car enthusiast
- The niche a young woman recognised on holiday that went on to grow an international business and capture the attention of Oprah Winfrey
- How to become the “guru” in your market and own your niche
- What Joe Pulizzi told us about niching down that we’ll never forget
- The shift from teacher to learner and why that’s important to you if you are trying to position yourself as an expert in your niche
- Why you are not getting traction in your current market
- The two types of niches you need to know about
Also mentioned in this episode:
- “Niche: Why The Market No Longer Favours The Mainstream” by James Harkin
- Dance Studio Owners Association
- Hinge Research Institute High Growth Study
- Travel Noire
- Susan Garrett Dog Agility Champion
- Women’s Fitness Adventures
- “Feed a Starving Crowd” by Robert Coorey
- Joe Pulizzi, Content Marketing Institute
- “Ask” by Ryan Levesque
- Roger Hamilton