See How A 6-Step Formula Help You Find Your Niche To Be More Profitable
How to find your niche market is one of the struggles of a new consultant.
What if it doesn’t generate money for me?
If you need help figuring how to find a profitable niche and how to get people to actually jump into your consulting service or buy your product, the 6-Step formula will guide you on how to find your super niche.
6-Step Formula How To Find Your Niche
How do you start in making a choice of which niche to go?
You will do this process with the objective of clearing everything out to get your best possible business idea & niche to test.
Step 1: Set Aside Your Ego
During this process, it is important to shut yourself down before you even start thinking about the best niche to work.
We need the whole process to work to get the right customers suited to your business.
If you blindly assume a niche will work and be a big hit, you’re risking a great deal of time, money, and other resources invested in your business launch.
Step 2: Evaluate
The reason for evaluation is to get all your ideas out without deciding whether or not it’s the best niche for you.
Don’t rush into launching your consulting services or product; without careful evaluation, it could be a waste of time and money if your startup fails.
The key is to identify your interest, your talent, your current or past experiences, passion, things that you are good in terms of how you could benefit from helping others.
If you are working in an area that it doesn’t make sense to anyone or doesn’t make you happy, your odds of quitting will greatly increase especially if this is your first time building your consulting career or any business startup.
Step 3: Organize
This is where you will group your business ideas. You can start to look for a topic in Google Trends.
Your ideas will likely be around certain themes like for example:
- Health
- Computer
- Finance
- Food
- Hobbies
- Education
- Pets
- Business
Then under your theme, create a sub-category like for example under health – there are different topics like fasting, losing appetite, heart ailments, exercise, meditation, depression, trauma, addiction, etc.
Look for problems that most people face that matches to what you can do or what you have been through in your life that you can help others.
Get to understand the problems or challenges of those people who you want to help.
Not a problem for one individual, but a problem that’s widespread among participants within a group of your interest.
Now once you’ve found the pain points of that specific group of people, then the solution to that problem is your idea to test.
Step 4: Contenders & Scoring
Here you pick a maximum of 3 strong contenders and do a round of idea scoring.
Is there any money that you can make from that idea?
Is there a group of people who really can benefit from this?
Along this idea generation process, some topics will be more weighed to more people and to you.
If you can see the pain level is from 5-10 the idea is more profitable.
If zero pain or the pain is at a level between 1-4 which is mild and tolerable then the idea is less profitable.
The higher the pain level, the more profitable niche for you.
Step 5: Choosing
Now you make your choice.
You need to acknowledge that you are choosing an idea to test.
Our brain will always fight with us when we want to start a business, try to accomplish things, achieve our goals, or even if you are working towards how to pick your niche.
Your brain will always give you a hard time when it comes to decision making and that’s for sure!
Even after you’ve done through the process, do not rush into designing or building your marketing website, or throw money on paid advertising.
Step 6: Test Your Idea
Talk to people and see if you’ve got this burning affirmation that the world truly needs your idea – the solution to their problems.
You are going to do some simple tests to check if people are willing to pay for it.
You need to test your idea so all your time, money, and other resources will not be wasted.
Certainly, you want to do your homework in selecting a viable niche that suits you, fits the market demands, and profitable.
When you apply a solution to a problem and it works, then the value is created.
You know value is the by-product of applying a solution to a problem.
And when you do that, when the value is created, then people are willing to pay money.
And the bigger the problem you solve, the bigger the money you can make because building your ideal business doesn’t have to be in the limbo that you work in guessing but it’s something to adopt an experimentation mindset to have a long-lasting successful business.
Conclusion
Too many new business owners or consulting startups are afraid to fail, so they were paralyzed to even pick a niche, to grow, and to earn more by starting their own consulting business in securing their future.
But, do keep in mind that there isn’t a perfect process for finding a niche.
You’ll want to do your due diligence, but if you get stuck in the idea-generating process, you’ll never actually get around to business startup. As a new business owner, you need to become a good starter and tester.
I hope that this post has helped you!
Go grow your expertise & income! Find your profitable consulting niche by following the 6-Step Formula on how to find your super niche.
You won’t know what you don’t know until you actually do it.
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