By Joanna Martin
I’ve just been reading the incredible story of Martin Lewis and I wanted to share it with you today as a stellar example of why you need a niche in your lifestyle business.
Martin Lewis is a UK journalist… and 10 years ago, he set up a website called MoneySavingExpert which provides unbiased financial information to help consumers save money and clear their debts. He has a real passion for what he does and has worked hard to position himself as the UK’s leading money saving authority.
Last week he agreed to sell his website for a cash and benefits package totalling £87million! Wow!
He has clarity on his niche… he identified the people that want his help and provided exactly what they want with his MoneySavingExpert work.
And when people are looking for impartial financial information… they know Martin is their go-to person.
Do your customers recognise you as their go-to person? Have you got clarity on your niche so people looking for the help you offer know immediately you are the person they want to work with?
Now,… I can’t promise you that being clear on your niche will result in you being able to sell your business for £87million in 10 years time… but I can tell you that if you aren’t clear on your niche, you will have to work a lot harder… and longer before you can have the lifestyle business you wish for.
So, if you a finding it difficult to get clarity on your niche, here are a few pointers to help you…
Your life purpose:
Choosing a niche based only on expected financial gain is not enough. If you aren’t passionate about what you offer, you won’t enjoy your journey and your work will feel… well, like work!
What is your message that you have been put on this earth to share? What is your life purpose? It’s only when you are truly in flow with your life purpose that magic begins to happen. Once you’re in flow, the road to success feel easy and work is fun.
Who wants to hear your message?
Your customers don’t always buy on need… it’s only when they want to buy… and are ready to buy that they will part with their money.
Let’s face it, everyone needs regular exercise and to stay healthy… but not everyone goes to the gym or follows a healthy eating plan.
Your niche message should address the ‘want’… the emotional desire to ease their pain that will encourage your prospects to take action and work with you.
Does that make sense?
Why do they want your help?
What are your prospects struggling with and want to resolve that you can help with? What is their pain?
You joined my lifestyle community because you want to learn how you can leverage your time and earn a great living but enjoy life too.
What help do your customers want from you?
How will you help?
Once you understand who wants to hear your message and the emotional pain they feel that drives them to seek your help… figuring out how you will help them becomes easier… or obvious.
What do you need to offer to help your clients resolve their pain? How will you do that?
If you work with people who want to lose weight, you might choose to offer a program of targeted exercises and dietary guidance. If you are a coach… perhaps a series of coaching sessions to deal with the underlying cause of their weight gain… a process that enables participants to achieve a milestone by the end of the program.
How will you ease the pain your clients feel?
If you aren’t completely clear on your niche and don’t feel you truly understand the people you can help, I urge you to set aside the time to give this some deep thought.
Your path ahead will be easier when your prospects can instantly recognise you as the one person who can help them… when they know they must work with you.
Do you have clarity on your niche? Do you genuinely feel empathy with the people you can help and understand what they need from you? Please share your thoughts below.
I have now found my niche, I went fishing for two days in the middle of the Loch I mulled over why I was put on this earth,( I like that you think like that Joanna) and now I know I am more powerful and focused when I do one thing excellently rather then 5things weakly. Thnx again for ur blog.
You’re so right Sian! Awesome!
I feel so much happier now that I have found my niche, it makes sense to specialise and be focused.
Great, well done Cheryl!
Interesting that Martin’s niche is still quite wide really ie he serves anyone who is in a financial pickle and needs independent advice. So maybe my niche is OK as I serve anyone who is in a career pickle and needs help to get out of it. I keep trying to narrow it but it just feels artificial…
If it feels authentic and is working for you, stick with it
Its funny (not haha – interesting funny) how sometimes when a thought continuously pops into our (my) head and is dismissed as ‘not possible’ ‘not do-able’ and ‘out of this world just plain nuts!!’ and then upon reading a blog by a wise woman (Jo) who is streaming goodness and totally in ‘flow’ makes me realise that I need to sit UP and start taking notice of that thought. Thank you. Amazing timing. Namaste Ali
You gotta love those self limiting beliefs huh? You CAN do it Ali and I look forwards to seeing your results
Just came across this and I’d definitely agree with you that finding and being in the flow of your life purpose is the thing that will give you more satisfaction than just a heap of cash. Life is too short and too precious to be just chasing money. Sure, we need to provide for the practicalities to life but life is more than just providing for practicalities.
Do something you love and believe is worthwhile. However, this can be wildly different for different people. I’d suggest one of the most important things anyone can do in their life is to find their life purpose. In doing so you will understand the context of your whole life so much better…
Couldnt agree more Mervyn
hahah sorry typo – a little *nudge from you not a little niche
Although If you would like to tell me my Niche I’d greatly appreciate it !
My background is in psychology and interpersonal communications. I have spent the last 13 yrs working in the 2nd biggest marketing company in the world. I work in consumer insights. It’s my business to understand human behaviour. It’s my business to understand people.
I’m now carving out a new career for myself in coaching and speaking.
People tend to come to me for coaching because they want something to change in their life but they aren’t sure what. Because they want to change career or because they want confidence to follow through on a dream / goal, other times it’s for prioritization or just to uncover the problem area that requires focus in their life.
I am also a motivational speaker (which I LOVE). I’ve got a talk called ‘How to think differently’ (blend of psychology, neurology and behavioural science) and one called ‘what are you waiting for?’ the science and psychology of motivation. I’m very passionate about helping people navigate and demystify the workings of their own minds to empower them to move forward in life with confidence.
What do you reckon??
Jodie
Hey Jodie-
Sorry about the delay. Sounds to me like you’d resonate well with corporate employees wanting a career change. Focus in on something like that. It will make it easier to market.
Hope that hlpes. Sorry about the delay again!
Hi Joanna, I’ve just started your profit principles webinar series and after session 2 I’ve taken a pause to properly investigate my niche. It’s been the elephant in the room which I have been ignoring. I’ve done a great lot of work, research and thought and I find it interesting and reassuring that my path took me back to you! A complete full circle, there must be something in that. I’m taking it as a sign to share with you where I’ve got to on my mission. I am so close to finding my niche I can almost feel it. But a little niche from you would help a lot. Where I have got to now I am quite excited by, but I’m unsure if it’s still too broad. ‘Motivational Speaker and Empowerment Coach’ (I am a life coach and speaker currently). Focusing on women aged 25-40 who have had a successful path in life so far, they are somewhere, but there is a nagging feeling that they are not where they should be. This feeling is getting harder and harder to ignore. They are at a cross roads. One road represents the path they’ve been on and is a natural progression for them, it makes sense but does not feel right. The other represents the possibilities of a different, more risky but more exciting life. They are motivated to work on what’s next and ready and hungry to make big changes. They just need help in overcoming the fear and navigating the path. They want confidence to overcome the obstacles and self empowerment to take action. Here’s my question Joanna – is this a defined enough Niche??