Link: Charge What You Deserve.
3 Quick and easy ways to Command a Profitable Niche
October 13th, 2008 · No Comments
So, who IS that client of yours? Where are you going to “dig your niche”? You are going to dig right where your B-O-M-B is! Your BOMB is your Best Original Market Base. There are three components to your BOMB.
* What are you best at that you’ll be offering your clients?
* What are some ways that you can stand apart from others in your field?
* Who exactly are you selling to?
1. So what ARE you best at?
You need to be confident and comfortable when talking to people about what you do. When I first entered the field of coaching I was considering nutritional and weight loss coaching. This is an area that I have some background in and am comfortable with, but having been a small business owner for the past decade I am MORE comfortable with solo entrepreneur coaching.
I also noticed a lot of coaches talking about the lack of help starting their businesses up. They had a great service to offer and some of them even went through top-notch schools, but they were lacking a lot of information on how to get the business set up and running properly.
2. How will you stand out from others in your field?
I don’t want you to reinvent the wheel here, but I want you to come up with some ways that you can stand out and be noticed. It can be as simple as a business or product name. “From Lazy to Loaded” certainly gets more attention than “Small Business Blueprint”. There have been many books written entirely on this one subject, but the basic premise is to create a pattern interrupt. You do NOT want to blend in!
One of the great things about creating a pattern interrupt is that the creativity will really start to flow. You will be able to follow a theme and it will feel like you are going WITH the current of the “biz creation river” rather than against it.
3. Who is your client?
One of the most important components to making an exceptional living selling a service (without selling your soul) is to identify EXACTLY who that client is; otherwise you will never know:
* Where they are
* What they want
* What they need
* What they can afford
* How to communicate with them
* And so on
You’re not going to see too many lipstick ads on ESPN. That would be a random shot in the dark and a huge waste of advertising dollars. Do women watch ESPN? Yes. Do men wear lipstick? Well, some men do. But is a lipstick retailer going to get a good return on investment advertising on ESPN? Absolutely not! Even enormous, multi-billion dollar corporations would never waste a single dollar on marketing that they know is not specific. So why would you?!