If you are a solopreneur I can bet my Choos that you have been told to “find your niche”. Great, but how do you figure out what your niche is?
If you are a solopreneur or are thinking about launching your freelance career, I can bet my Choos that you have probably been told to “find your niche”. Great, but what exactly is that and how do you figure out what your niche is?
It’s pretty simple actually. In short, your niche is typically a sector within your chosen field that most naturally comes to you. It’s your specialization, that one thing you can do better than the rest and you deep dive into it.
In my case when it came to copywriting, my niche was luxury. Having spent over a decade working within the international luxury fashion industry, my knowledge of how things work and how they need to be done for a luxury brand to succeed in both the regional and global markets is a massive advantage. I am able to see the bigger picture, am inherently aware of the key competitors and, therefore, am not only able to create impactful copy, but am also able to guide my clients in terms of how they can really stand out, make a difference and most importantly, hit their sales targets.
So if you are starting out, you need to ask yourself these 5 vital questions to help you find your niche.
1) What is that one skillset that has always set me apart from my colleagues in the workplace?
This is that one thing you have always been known for. For example, I worked in PR & Communications for over 8 years and from the get-go, I was always the writer. It was a natural skill that I possessed and that one thing that I did really well, even when I was just an assistant. And so, I launched my solo career as a copywriter.
2) Which industry am I an expert in?
Sure, you can always have a secondary industry that you can pick up as you learn more about it, but your primary industry, your bread and butter, should be something that you are well-versed in. It will not only allow you to offer more value to your clients, but it will also enable you to work more efficiently and deliver better results.
3) What do I enjoy doing?
Now this is important. If you are going to be working for yourself, you absolutely need to LOVE what you do, otherwise it is almost impossible to muster up the discipline and motivation to grow your business. Of course, it will always be work (I always say you get paid for a reason) but it really should be something that engages, inspires and challenges you.
4) Is it lucrative?
At the end of the day, hitting your financial goals is vital. So make sure that the niche you identify is something that potential clients are willing to pay for and that it has longevity. Understand who your target audience is, look at their problems and see how you can best cater to help them find the solutions they need. Work backwards if needed for a fool-proof way to carving your own successful path.
5) How many other people are doing it?
Being aware of your competitors is important. You will be starting out whilst they already have the advantage of being in the market before you. So if you plan to offer exactly the same services as they do, chances are you have to compete on price which I never recommend. Instead, study them, learn from them and apply their best practices but also find that gap in the market that few people are catering to and put together a value proposition that fills that void.
To recap, if you are charting out your solo career:
- Take advantage of your natural skillset.
- Apply your expertise.
- Be passionate.
- Make sure there is a need for what you are offering.
- Be authentic.
- Always focus on adding value.
And that’s pretty much it. Once you figure out your niche, you can start mapping out business plan, goals and dreams.
NOTE: Honing in on your niche doesn’t mean you have to stick to it forever, it is merely a starting point for your solo career. Your business will grow and evolve as you do, and likely you will find new opportunities as you grow and build confidence within your niche.
Until next time…