How To Choose A Profitable Niche (The ONLY 3 Things That Matter)

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Finding a profitable niche is a critical part of developing as an entrepreneur. In this video, I show you the three parts of identifying your niche, so that you can go out and find the area that’s right for your business.

First of all, what is a niche? A niche is a specialized, but profitable segment of the market. Having established that definition, we can break it down and see how exactly to find a niche.

The first part of a niche is the market. There’s a lot of advice that includes getting super specialized and really focusing narrowly on your ideal client. However, in the beginning, you often don’t know who your clients are. So, when it comes to the market, you want to think about where there is demand for what you’re providing. All you have to do is provide something that others are already paying for.

The second part of identifying a profitable niche involves profitability. One important tip is to figure out how your audience really feels when they think about the problem that you can solve. The more strongly that your ideal client feels about your solution, the better chance you’ll have of attracting clients.

The last part comes down to specificity. Think about this: What are the shared problems that the audience has? What are their shared desired results? What are their shared characteristics? By answering these questions, you can determine what aspects you can address in your business. Then you can ask yourself how to help people with the problems, desires, and characteristics you come up with.

Finding a profitable niche will help you get clients and increase your sales. By figuring out where your niche lies, you can develop a focused approach that will be sure to sustain your business.

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