To niche or not to niche is always the question.
Niches come in all different sizes, shapes, and forms. Yes, really.
Here’s what I mean.
You can niche in:
- type of business,
- size of the business,
- category of business,
- you can just niche in the service that you provide
- or a combination of the above
Examples:
- We help salons and medispas. (Type of business)
- We help small to medium size businesses that are between $1MM – $5MM in revenue. (Size of business)
- We help health and wellness practitioners. (Category – because it could include dentists, chiros, medispas, specialty doctors, wellness centers, etc)
- We help clients implement conversational marketing systems (Chatbots) to convert more traffic into customers. (Service)
- We offer a proven marketing system that helps eCommerce businesses between $1MM-$3MM, with traffic and website conversion to generate more revenue. (Services + Size + Category)
Stop for a moment and think about the niches of some of the biggest influencers you know. How niched are they?
Tai Lopez? He’s broad category niched, including online education, eCommerce and farming. He’s buying up large iconic eCommerce brands (i.e. Dress Bard, Pier 1 Imports), while simultaneously promoting his online education programs. He’s also farming and producing eCommerce products (i.e. Farmer’s Cart) for farm-to-door delivery to customers.
Grant Cardone? Also broad category niches. He started out in a very specific niche (car sales training) then went broad very fast into sales, social media, personal professional development training, and of course real estate.
Lewis Howes used to be just a LinkedIn trainer (his first book was a self-published book on using LinkedIn). Now he has a thriving podcast (The School of Greatness) and his books and speaking topics are motivational and inspirational, with a broad focus on personal and professional development.
My friend Dave Horsager wrote a book called The Trust Edge and offers consulting and training services for companies who want their leaders trained on his “8 Pillars of Trust” leadership program. He built an 8-figure consulting and training company this way. His niche? Service. Trust leadership training and licensed online programs for companies of all sizes, but a focus on Fortune 1000 companies.
What’s the point? Most of the top influencers telling you to “choose a niche “or that the riches are in the niches aren’t that niched themselves – or they fail to explain more specifically what that means.
“So, Joe, what do YOU recommend then?”
My recommendation is to specialize in a service that you can deliver results in and decide on a size of business that can afford your services (typically larger than $1MM/yr) and start with a category that you’re passionate about.
In my latest YouTube video, I share “3 Secret SMMA Niches” that are overlooked by most digital agencies or consultants.
Chances are, you provide a service that can help one of these, or it will stimulates your thinking about niches you can and should be going after that nobody else is. Here’s the video below.
The third niche I get into, I even walk you through how to identify them on Google and how to find someone who may desperately need what you offer.
If you like the video, subscribe to my YouTube channel and comment as well – I’m doing my best to respond to all comments and answer questions on my YouTube videos.
