Definitive Guide to Finding Your Profitable Niche - Part 6

5 Big Myths Stopping You From Choosing A Niche

5 Big Myths Stopping You From Choosing A Niche

Does the idea of committing to a niche make you cringe inside? Are you doing everything you can to resist deciding on a niche?

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5 Big Myths Stopping You From Choosing A Niche

Does the idea of committing to a niche make you cringe inside? Are you doing everything you can to resist deciding on a niche?

Let me see if I can help.

I’ve listed 5 of the biggest reasons below... see if any of these apply to you!

Myth #1: I Don't Want to Turn Away Potential Clients By Choosing a Niche And Narrowing My Audience

One, when you narrow your focus, you get even more clients, because your services will be a better match for your target audience. And when you specialize in a niche, your clients are often higher-paying. Just as heart surgeons (who solve a specific problem) earn more than general practice doctors.

Secondly, many of the people you feel you may be “turning away” are people you aren’t attracting now anyway because your message is too generic and vague.

Lastly, by having a specific focus to your business, you’ll attract quite a few good clients who aren’t directly in your target audience. For example, we have a colleague who does physical therapy for athletes, and she attracts many non-athlete patients because of the credibility she has in her niche.

Myth #2: What If I Pick the Wrong Niche?

Rather than spending months or years thinking about which niche would be best, it’s better to get started in a niche (even if it is the “wrong” niche), because the knowledge you’ll gain in the process will be extremely valuable in shifting to the “right” niche.

There are thousands of niches where you can have a profitable business. You’ll increase your chances of picking a successful niche when you deeply research the problems that your audience wants to solve and the results they want to achieve, and determine what problems your niche audience is willing to invest into.

Myth #3: I Don't Have the Expertise to Serve Clients in My Niche

Chances are, you already have a core skill set that people in your chosen niche will need. And when you focus on a niche, you can build your expertise and skills by learning even more about the specific needs and problems of your target audience.

Your niche will value you even more as your services become even more targeted to what your audience REALLY wants. And you have more of an opportunity to be seen as an expert and to generate long-term referrals.

Myth #4: I Can't Afford to Lose Income In My Current Business While Pursuing a Niche

Your business will grow faster when you focus on a niche. So you won’t have to lose income while pursuing clients with a niche strategy. By being more focused on a niche, you’ll actually increase your conversion rate and generate more word of mouth in your niche. And your marketing efforts will be more effective, since you’ll appeal more strongly to your niche with a targeted message that speaks to their needs.

Choosing a niche will be just what you need to have your marketing efforts be more focused and effective at bringing clients (rather than marketing to the general public in a way that appeals to no one in particular).

Myth #5: If I Focus On Problems, I Disempower My Clients

Many business owners who are healers object to focusing on “problems”, because they want to focus on creating positive transformation. But here’s the big mistake that often happens in marketing – you offer what you think clients need, instead of what they actually want. For example, many health practitioners offer “vibrant, radiant health” (vague benefit), when clients may want to lose 10 pounds and look better in their clothes (specific problem).

Here’s the thing: often times, clients are motivated to take action because they have a perceived problem or pain they want to get rid of. And once you start working with them to reduce the problem, then you have the opening to offer them your system for achieving greater possibilities and transformation in their lives.

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The Definitive Guide to Finding Your Profitable Niche | Bill Baren
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