Daniel FazioCo-Founder of Client Ascension & ListKit

What makes a good business niche

9 Feb 2023 · 0 min

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0:21

Short excerpt from a Daniel Fazio YouTube video advising how to choose a business niche. Fazio states three required criteria for a service-focused niche: targetability (you can reach/prospect them), sufficient financial resources, and a clear problem your service can solve; he warns that missing any one (e.g., inability to target) prevents scaling or selling effectively.

If you're picking a niche to sell your service to, they need to have three things, right? They need to be targetable. They need to have money, and they need to have a problem that you can solve. And they need to have all three, right? So I see this all the time. Maybe you come up with some very specific solution to somebody, and maybe those kinds of businesses typically have money, but you can't target them. Like, you can't find their email addresses. You can't scale that business.