Choosing Your Niche: A Guide to Starting Your Online Business
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Do you know what a "niche" is?
We like to think of a niche as the area of expertise that you bring to your online business. With all sorts of information in the business world, it is hard to narrow down your focus and choose a niche. So, today we are here to help you cut out the noise and get started in launching your online business by showing you how to choose your niche!
Tips & Tricks
#1. What you know.
Start brainstorming your niche by thinking about all of the knowledge you have gained in your lifetime. Think about your education, your career, the information you have gained throughout your experience, etc.
The best part of what you know is that it does not have to be what you have formal education in. Just something that people turn to you when they want to learn. You may be an expert in something over time that is completely different than what you studied! That is totally okay.
#2. What you love.
This is the fun part!
Brainstorm all of the things that you are passionate about. This may look like your hobbies, things that inspire you, your passions, put simply: the things you love.
After you have thought of a few things for each of these steps, try to find a common link between them. When you find something that you are both passionate about and have knowledge in, you have found your niche.
Be specific!
The best thing you can do after identifying what you know and what you love is to get specific. The more specific and narrow you make your niche, the easier it will be to market & sell your online business. This is a way to make sure you are not spreading yourself too thin and actually have a more unique and profitable audience.
For example, we have a user on Kajabi who was knowledgeable in social media, and passionate about being a hairstylist. Instead of just limiting herself to being a social media specialist or a hairstylist, she created a business that combined both. She teaches over hairstylists how to market themselves on social media. Then, to get even more specific she specializes in one platform: Instagram.
This narrow audience has left her with a unique take on her business and because of that, she has been incredibly successful.
The Four P's
The final test you can put your potential niche through is what we call "The Four P's."
- Passion
- People
- Product
- Profit
Are you passionate about this niche? Will people be interested in your niche? Is there a product or business you can actually build your niche around? And finally, will you be able to make a profit from this niche?
All of these questions are extremely important to ask before you decide on a niche.
We hope that these simple steps have helped you narrow down your ideas and allowed you to choose your niche!
And if you need a little bit of extra help, we have a PDF guide that shows you what the 10 most profitable under-the-radar niches are!
This is a helpful resource that can steer you in the right direction or lend a different perspective on your potential niche.
Download it below!
