3 years ago I remember sitting at my desk deciding which category to launch my podcast.
It was important because a good launch spot was crucial to ongoing success. And some categories were mega-competitive.
The podcast was a blend of self-improvement and lifestyle entrepreneurship.
My agency opted for entrepreneurship, [BTW I since learnt you can pick 3 categories].
The battle for a good launch spot was brutal! it was competitive. We got to #21.
As the episodes progressed we got deeper into mindset and psychology. I hated the episodes on marketing, they were so dry.
I became a chameleon. I lost clarity and constantly felt uncomfortable. And the ranking dropped.
Then I read the articles – you don’t need a niche.. and thought…
Do I need a niche?
If you have become famous, through movies, TV or even Influencer status then anything goes.
Think of Rhianna who can sell perfume, clothes – anything she pleases. People buy it because it’s synonymous with a personal brand they love.
But in the beginning, don’t bruise your ego, you need a niche so people ‘know what to know you for’.
E.g. Adriene Yoga – no prizes for guessing this niche.
Think about it, people are not going to search your name, they don’t even know it.
They will search for solutions to their problems and here you get known. Then all that changes.
In a nutshell, until you are famous, the niche is how you get known.
Now this leads to more questions. Which niche is profitable for me? And how do I stand out? We’re coming to these.
How to choose a niche?
We’re building a business so it must be profitable and we must love it. This logical tool will reveal your niche. I recently read Alex Hormozi’s book and turns out he used the same tool, so it can’t be half bad. Try it.
- List your skills & strengths
- List your passions and interests
- Identify the market demand [do people need it, want it and will they pay for it?]
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This trumps everything if you want to be profitable early: You have a special skill or experience at solving a specific problem.
Now you have this list, take a walk. Let the subconscious go to work.
Avoid overthinking and going into analysis paralysis.
It’s better to start and pivot than never start.
By now you are clicking off and going to create tonnes of content about just your ‘thing’ ‘taxes’ or ‘vegan meals’.
STOP.
I learnt a beautiful lesson that I’m going to share with you, and this is how you will stand out as the snow leopard even in a saturated niche.
How you can stand out like a Snow Leopard and craft a niche of one?
If you are building a personal brand then chances are the niche already chose you.
You can try to act like someone else – or be YOU!
There’s a great book called Snow Leopard that runs through tools to create a category of one. This is what you want to create.
Not a commodity, not another leadership coach or web designer.
- Be Different NOT Better
- Share your POV
- Have a unique method [Like the 5-Second Rule]
With these tools, you create your own category of one.
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Be Different
This doesn’t mean dying your hair pink and playing punk rock at the end of your videos.
I know creators who opted for artificial props. It’s often cringe. Trust me I tried it and after a while it doesn’t feel right and you start to hate the whole show.
Different means being YOU in the true sense.
Think of Alex Hormozi, it’s easy to see that this is just the way he is.
In your posts & content, express your point of view. Not for the sake of controversy. But because you believe it.
Show your personality – see the excerpt from Jeff Bezos’ letter below.
All your life you may have been given. the message to fit in and ‘be normal’.
When the real you wants to dance around the room. Let the real you shine!
Excerpt from Jeff Bezos’ Shareholder letter
Video & Audio: A little tip I learnt, these formats dull you down, so you need to ramp up the energy.
Test it, film a little reel and then ramp up your energy by doing 10 jumping jacks and filming again.
I guarantee you’ll notice the difference and so will your audience.
Sharing your other interests
It sounds crazy but I know a business owner that chose his accountant because they like the same baseball team. Sometimes it’s the little things that connect you.
Now you have your niche you might be overthinking these questions..
- Is my niche too broad?
- Too niche?
- Should I only serve one type of person?
Let’s do a quick fire round:
Is my niche too broad?
You can either take a small slice of a big pie or a big slice of a small pie.
It doesn’t matter. If you go broad, then your unique attributes and interests will be the beacon. e.g. The guy who chose an accountant because of a basketball team.
Too Niche? Riches are in the Niches?
I’ve seen this work and then fail, let me share. There was a business coach for dog trainers who practically owned the niche. Then..
A newcomer came to the market and stole 80% market share a quarter.
To the newcomer, this was hitting a gold mine.
To the existing business, it marked the end. Of course, there can be many factors.
On the other hand, if you approach a niche like Ali Abdaal or Alex Hormozi then you grow upward.
E.g. Ali Abdaal started helping medical students pass exams and now teaches YouTube. I guess because so many doctors want to start a YouTube channel after their experience!
Alex Hormozi – launched gyms until he did ALL business.
This approach allows you to start small and then jump onto new trends taking your audience on a journey with you.
Should I serve one person?
I’ve seen this work well for health experts working with menopausal women. I’ve also seen it limit a PT in accepting well-paying male clients.
Here’s how I would approach this question:
- Do you have a unique skill or experience that meets the needs of one audience?
- Does my offer only apply to one type of audience?
- Is the audience large enough?
- Is the audience able & willing to pay for my services?
If these answers are yes, then you might have a business that works for only one type of audience.
On the other hand, if you are starting and you don’t need to serve just one person, then don’t.
Don’t sit too long, start.
Write, record and publish something… It doesn’t feel right to go back around and do it again.
Be the chameleon until you find the right spots and become a snow leopard. But most of all stop thinking and choose.
Hit me a message if you want a sounding board on this topic.
Thanks for reading
Sue
PS If you enjoyed this perspective I’d love it if you would share on social media and tag me.