Listen, there is a TON of competition in business today. The internet, which enables all of our personal businesses like never before, also makes it so now you compete with the entire world.
But, we have a powerful tool at our disposal: specialization, focus, narrowing our target market, aiming at a smaller business niche.
Now, if you’re already selling a bunch of product successfully — if your storehouse and bank account is full! — well then, you probably don’t need to specialize any more… it’s working, you’ve got it, well done.
But, for many of us — especially those of us who are still getting our businesses off the ground — specialization, aiming at a smaller niche, focusing on a more precise target market, can make all the difference in getting your business flying, getting found, producing revenue.
A great niche can help you:
Basically, defining a target market and niche that’s both “specific enough” AND currently underserve in the world will help you with everything… literally.
We teach this process through the following methods:
… and yet questions about niche, target market and ideal customers are among our most popular.
Why? Because this really and truly is a difficult thing to nail down. There’s as much art as there is science here… with a fair amount of luck necessary as well.
And that’s why we need to familiarize ourselves with examples, so we can see how others have done it and learn some things about why those niches worked.
(In case you don’t know it, we teach tens of thousands of entrepreneurs how to get their idea off the ground with a simple, guided roadmap of training alongside community and group coaching. To find out more about Fizzle Membership click here. Please note, this is not for douchebags and assholes — this is for folks who want to earn an independent living doing something they care about.)
When you’re ready, listen to this podcast episode because we share and explain several examples of niche businesses, why they work, and what you can learn from their example.
DESIGN CUTS — TOPIC: Web design resources. AUDIENCE: Professional web/visual designers. PROBLEM: Designers want great resources and tools, but don't want to pay full price for them.
MINIMALIST BAKER — TOPIC: simple cooking. AUDIENCE: vegan and gluten free people. PROBLEM: people think it's hard to make delicious, simple vegan and gluten free foods. MB creates a lifestyle image and then provides recipes so you can live this way too. So maybe the problem REALLY is "I want to live like that, how do I do it?"
THE TINY CANAL COTTAGE — TOPIC: living well in a tiny space. AUDIENCE: modern folks interested in living more inspired lives no matter the size of our homes. PROBLEM: Living well in a tiny space! As she says: “you don’t have to live large to live beautifully.”
NERD FITNESS — TOPIC: fitness, workout, exercise, body image. AUDIENCE: nerds, gamers, people who dress up as gandalf for halloween. PROBLEM: Nerds and gamers don't think like jocks and yoga babes about fitness. They need their own way of talking about and pursuing fitness and exercise. So, this business translates fitness best practices into nerd speak. "I'm a nerd and I want to be fit, i want to touch my toes, I want to enjoy my body."
SHARED PRACTICES — TOPIC: Dental practice ownership. AUDIENCE: Recent dental school graduates. PROBLEM: New dentists want to own their own practice, but don't know how the business side of things work.
ZEN COURSES — TOPIC: Building online courses. AUDIENCE: Entrepreneurs who want to build an online course. PROBLEM: Planning, organizing, and launching an online course that gets results is difficult and there aren't many good step-by-step guides that show you how to do it.
SISTER MOUNTAIN — TOPIC: knitting patterns, making your own clothes. AUDIENCE: people who knit, people who want to make their own clothes. PROBLEM: It would be cool to knit, but I don’t want to knit just some weird looking stuff I’ll never wear. I love the idea of making my own clothes, the pride of that. How do I make stuff I’ll actually wear?
ILLUSTRATED CHILDREN’S MINISTRY — TOPIC: “Illustrated resources for the church and the home, encouraging creativity and active engagement with faith.” AUDIENCE: people in the Christian church with kids. PROBLEM: it can be challenging to talk to your kids in ways they understand about stories of faith. Help me find activities to do with my kids that are both fun and spiritually educational.
COZY CAMA — TOPIC: pet beds (pet happiness). AUDIENCE: Dog owners. PROBLEM: Dogs need to feel loved like part of the family. As a dog owner I want my dog to sleep in a place that comforts them by smell, makes them feel at home, and also is sustainable, eco-friendly and easy.
MOTHERBIRTH — TOPIC: Motherhood. AUDIENCE: Women becoming mothers. PROBLEM: “Not just babies are born” is the tag line of this podcast. This speaks to the fact that you don’t become a mother in an instant, it takes time and transformation. What’s more, this has always been a thing women were assumed to do effortlessly and, hey, guess what, it’s fucking tough! That’s the problem.
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