How To Find Your Business Niche

How To Find Your Business Niche – The Easy Way

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Want to know how to find your business niche without all the frustration? Have you been trying to find the perfect niche but unable to decide? When you learn how to find your niche, you can then start a profitable online business.

How To Find Your Business Niche

First, you have to make sure it’s something you want to do, and second, is it a profitable business niche?

What is it that people are always coming to you for advice for? What is it that you were interested in since you were little? What is something you are obsessed with and never tire of? Is that thing a problem that people have that you can solve?

In its simplest form, a business solves a problem. So to find your niche, you need to be good at it and, it needs to solve a problem for your potential customer.

Deanna Castro Your Business Fairy Godmother in an office

What Is A Niche?

A niche is a specialized section of the market. The more niche, the easier it is to find customers and for customers to find you. When you have a very specialized market, everything becomes easier. That’s why you need to find your business niche.

A niche is a specialized section of the market. The more niche, the easier it is to find customers and for customers to find you. When you have a very specialized market, everything becomes easier. That’s why you need to find your business niche.

Finding A Profitable Niche

When you find the right niche, you can easily make money. However, if you want to do well with your business, you must choose the right niche.

Sometimes it can work out by luck, but that isn’t always the case. Do your research, know your market, and have a much easier time creating a successful business.

All Good Businesses Solve A Problem

What problem is it that you want to solve? To find your niche, you have to have a problem to solve. Think of your favorite business. What problem does it solve?

What problems are you always solving? If you don’t know what problems people ask you for help, make a note every time someone asks you for help.

You can make a note right on your phone and keep a running list of what your niche audience asks you for. Then, you can look at it and find the common theme. That theme may very well be your business niche.

Knowing what problems you are good at solving makes it easier to find your business niche.

Find Your Niche & Then Niche Down

Do you want to be a big fish in a little pond or a little fish in a big pond?

Big businesses have a broad niche, and they can because they dominate the market. It’s not easy to compete with a multi-billion dollar company, but you can dominate a narrow niche in that part of the market if you niche down.

Finding your niche is great, but when you niche down, the magic happens.

The world is your marketplace, so don’t worry about being too niche. Your ideal customer has specific needs and wants exactly what you are selling in your niche market.

Aerial yoga niche

An Example Of Niching Down

For example, as an entrepreneur, the business you would like to start is selling yoga equipment. Yoga is a great niche, but there are so many different kinds of yoga. So if you have yoga products for your niche, that’s quite broad, and you will compete with big companies like Gaia, which have been around for years.

But if you niche down to aerial yoga, it’s a much more niche market. Sure, fewer people will be searching for aerial yoga instead of yoga, but you will be able to dominate that area of the market much easier.

A niched-down niche is more low-hanging fruit. You aren’t going for fruit that is hard to reach way up high in the tree. Not only that, there are so many other trees that are much taller than yours (choking out all the sunlight that reaches your tree), and those businesses have all the tools and money they need to harvest that fruit.

Does that make sense?

What If I’m A Multi-Passionate?

If you are multi-passionate, you have many different passions and, it can be hard to find your business niche. But, no matter how tempting it might be not to niche down, it’s still important.

See if you can take some of those passions and roll them together so that you can find your niche. Write down all of your passions and look for the overlap.

Circle the things that relate to each other that you can learn how to find your business niche.

Just because you are multi-passionate doesn’t mean that it’s impossible to find your niche. However, you have to work a little harder to figure out the number one specific niche you can stick with for a long time.

Who is Your Ideal Client?

What’s the best way to identify a niche? When you know who your ideal client or target customer is.

When you know your ideal client in your target audience, it is much easier to find that business idea that helps solve customer’s problems.

When looking for a potential niche, you can start looking into the larger market and narrow it down to your target market. Start big, then go small to find your profitable niche.

Look at social media sites such as Facebook, and see what questions people are asking. Which questions do you have a solution for? Those people (or people like them) are your potential clients.

Questions To Ask Yourself

If you want to find your niche as an entrepreneur, you need to be somewhat of a detective. You can ask yourself some questions when you want to know how to find a niche.

  • Who am I? Who do you see yourself as long-term? Think of your business niche idea and see if it matches with who you are.
  • What do I love? If you want to be good at your business, you have to love what you do.
  • What are my most marketable skills? Jot down all your marketable skills and see how they can help you find your business niche.
  • What problem do I enjoy solving? If there is a certain type of problem that you enjoy solving, nine chances out of ten you’re really good at it and that could be a great niche.
  • Who do I want to help? What people do you want to help? Moms? Parents? Kids? Millennials? Gen Z? Who you want to help can help you find your niche.
Journal to find your business niche

Journaling

Journaling is a great tool to aid in finding your niche. When you write in your journal, you can just be yourself and let all your hopes and desires flow onto the paper. It’s a great practice to help you get to know yourself.

Even once you do find your niche, you can journal to niche down even further.

What If I Choose The Wrong Niche?

You can always pivot. I can tell you everything you need to know about finding your business niche, and you may change your mind. The more time you spend working on your business, the more you realize you can take it in a different direction.

You can always follow the more successful things that you do in business and cut out those not as successful.

It’s your business, so at the end of the day, you can run it how you want and change what you want.

If you want more help choosing your niche, check out my free Unleash Your Niche Workbook and go through the exercises to see exactly how to find your business niche with some simple exercises.

Can I Ever Be Too Niche?

Possibly, but it doesn’t hurt to niche down really tight to find your niche. You can always expand.

Some businesses have one product for a specific audience, they get known for that product, and then they build up their business from there.

You may need to be a little bit broad in the beginning to find your true passion, and you make the rules. What works for one person doesn’t necessarily work for everyone.

Being niche helps you get found in search results. Once you get some raving fans and customers, you can expand your niche a little if you want because you already have a presence established in the market.

Ready to find your niche? Check out my free mini-course workbook, Find Your Purpose-Driven Business and find that “perfect for you” business niche.

Have you had trouble finding a niche? Or do you already have a niche but think you may need to niche down. Let me know in the comments. I’d love to hear from you.

7 thoughts on “How To Find Your Business Niche – The Easy Way”

  1. So true! Niche and then niche down! You need to be specific in what you are targeting so you can effectively tailor your message, marketing & expertise!

  2. Have you found yourself asking how to find a niche for your business? It’s a big question because it should be a decisive moment in your business, but chances are it gets overlooked. But if you could find a niche, you’ll be ahead of the rest. Finding your niche is about understanding your strengths and weaknesses as an entrepreneur, as well as your personality. Your niche should be a reflection of all those things.
    Nia Hayes – ShunCy recently posted…How to grow skullcapMy Profile

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