3 Mistakes to Avoid When Defining your Niche
Defining Your Niche:
3 Mistakes To Avoid When Defining Your Niche + Top Tips for Finding your Perfect Fit
In order to finally launch your online business and really be successful, one of the first things that you need to get crystal clear on is defining your niche. You must, and I mean must, bail your niche before you even consider starting to talk to people or communicating anything about your business.
Why Is That?
Because if you are unsure or confused about what you do, I’ll bet you my business that your target audience is too. People don’t invest in mixed messages - they run as fast as they can away from it, and I think that you and I can both agree that we do not want that to be the case with your potential customers, or the reason you lose one.
To help you move forward in the right direction, I have put together a list of 3 crucial-mistakes that I see all too often and that you as a new entrepreneur should avoid when defining your niche:
Mistake #1: The Fear of Being Too Specific About Who + What You Serve.
One common mistake I see amongst new online entrepreneurs all too often is that they struggle to be specific when defining their ideal customer. As well as being specific on what they offer. No need to be scared of being too specific about who and what you serve. The fear of 'limiting' the pool of potential clients as well as fearing a limit on what services you can provide in your online business business.
This often comes down to not having found out exactly what you want to be doing in your business or severely suffering from 'shiny object syndrome' so instead we try to mix it all together which usually ends up being a proper mess that no one (yourself included) fully understands.
You have to understand that you can’t, and shouldn't serve everyone. If people don’t understand what your business is about within the first three seconds of visiting your website, potential clients will likely leave and never come back. The more specific you can be about who you serve and what you offer, the easier it will be for you to communicate your message and position yourself as the “go to expert" within your niche - and that is exactly the type of services people are willing to pay for, ultimately yielding high-end clients.
Mistake #2: Not Perfecting Your Elevator Pitch.
If there’s one thing you need to know by heart it is your elevator pitch.
Your elevator pitch is basically a few short sentences summarizing, presenting and selling your business/ services, and describing who and what you serve.
When you are in the beginning stages of your business, you should use your elevator pitch as a reminder when creating your services. If you need help with your EP - be sure to pop into our FB community, we have a thread for elevator pitches every so often!
Write it down, hang it up places, make a note on your phone. Point is, put it places where you will see it multiple times during the day. Keep repeating your elevator pitch to yourself on a daily basis and say it out loud as if you were actually pitching your business to a potential new client. When it really comes time to making that $$$ it will be imperative that you have the confidence to present your services. This will help you gain confidence in your business and prepare you for real life situations.
Mistake #3: Failing to Understand What Kinds of Services People Are Willing To Pay For.
Passion drives success.
Passion drive success in business but it can also lead to loss and failure. When starting a business it is crucial that you do your market research and actively seek to understand the pain points of your target audience.
Pain points are major when it comes to learning how to sell. Coming soon I'll be prepping my 'sell it all' course where I will share ALL of my most lucrative, and powerful negotiation and sales tactics to succeed in any faccet of business.
Being passionate about what you do is important, passion alone will only take you so far. You also need to get a great understanding of what people (your target clientele) need, want to buy, and how much they are willing to pay for it. I look at passion is your gasoline, but you can't get far without the car! The car is your business model, and you MUST treat your business as such.
There might be things that you love doing but if you can’t translate it into a service people are actually willing to pay for, you simply don't have a business - this is where my 1:1 consult sessions come in handy!
Tess' top tips for defining your niche...
Answer the following questions to kick-start your path to defining your ideal niche.
- What are you passionate about?
- What are you really good at - think of everything, some of the best niches are.
- With whom do you want to do business? Be specific, think of your ideal clientele or audience.
- List your achievements.
- Identify the most important lessons you've learned in life.
- Look for patterns that reveal your style or approach to resolving problems.
- Find a void in the market.