When it comes to picking a niche, many business owners tend to shy away from committing because they think it will limit the opportunities they have available. But this is simply not the case. In fact, picking and clearly defining your niche is one of the best things you could ever do for yourself and your business. So in this post, we’re going to share with you just why this step is so important when starting your business.
It can help you earn more
Most people don’t make the connection between niche and money, but when you realize that a niche is just an area of specialized focus, then it starts to make sense. If people are looking for an expert in a specific area and they’re good clients, then they’re going to be willing to pay more for this service or product. Think about it this way: if you have heart troubles and need to see a doctor, would you prefer to see a cardiologist or a general practitioner? The answer is obviously a cardiologist, right? So, it works the same way when you identify your niche – people will pay more because of your specialist expertise.
It positions you as an authority
When you work in one area and talk about this over and over then you become an authority in this area and that’s how your potential clients are going to see you. Becoming an authority isn’t about making yourself look better, it’s about showing your clients that by hiring you, they’re hiring an expert to get the job done properly, and this is something that’s going to give them a lot of confidence in you.
It reduces the competition
Again, you can use the doctor example to get some perspective on this, but instead of reducing your opportunities, picking a niche actually limits your competition. Let’s say for example, you’re a copywriter who focuses in the medical industry – let’s say you narrow your niche down even further and focus on eye care. Now if someone wants to hire a copywriter to write specifically about products for vision companies like the Pacific Vision Institute, who do you think they’ll be interested in hiring? The copywriter who writes all kinds of web copy and a bit of everything, or the one who focuses completely on eye care products?
It makes your marketing more clear
Marketing is pretty much everything when running a business, and if you’re trying to get clients this way, then you need your marketing to be clear. That means, you need to know your stuff and be able to position yourself as an authority to build trust. If you’re writing about all kinds of different things and making multiple different offers, then your potential clients aren’t going to be aware that you can help them, so in order for your marketing to be clear, it needs to be specific, and in order for it to be specific, you need to know who you’re talking to – this involves having a clearly defined niche.