A framework for testing whether a niche is worth pursuing. Score each candidate on four dimensions: Problem (pain point severity), Money (revenue potential), Growth (market expansion), and Target (audience clarity). Plot them on a chart to see which niches rank highest.
When we're thinking about a niche, there's a couple different variants or things that allow us to think, do we have the right niche or do we have the wrong niche? I'm going to list them here. Number 1 is problem, and then after that it's money, and then 3, growth, and then number 4, target. We want to rank these things. I like to rank them 1 to 5. 5 good, 1 bad. What I would recommend you do is you go out and you build a little chart like this and you put each of your individual niches here, and then you put here problem, money, growth, target, and then you rank them 1, 3, 5.
