Your Profitable Niche

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And good evening everyone. Happy Saturday. Today I'm on day 22 of my 30 day going live challenge and let me tell you, I'm tired. I'm gonna keep this short, sweet, to the point and welcome. I am going live on the Facebooks, on LinkedIn and YouTube. Little housekeeping because I've noticed not all the comments come through on stream yard. So hi. I love these to be interactive. If you comment and I don't shout you out and I don't say hi and all things unless you said something that's really rude. It's just that I didn't see your comments. Sometimes they don't come through from all the platforms. So just want to make sure if you're joining in. Hi. I so appreciate you being here. And sometimes the technology just fails us. Okay, so tonight I want to talk about one of the most common pieces of feedback that I have to give new business owners. And I say this because every person that I speak to, who I have to give this feedback to, I know, I know they think that they're the only one who's getting this feedback, right? Because we're awesome and self conscious and we assume that we're the one with the most unique fucked up problems right now. Everyone needs this. Everyone needs this reminder sometimes. I need this reminder and I definitely needed it when I first started. And that is that you need to pick a niche. And most of the time when I talk to new business owners, I tell them this and they're like, oh, no. But like, my niche is that I do X, Y and Z for people. And that is not a niche. Being a copywriter is not a niche. Being a coach is not a niche. Being a facilitator for meetings is not a niche. Okay. Your niche is also not a really broad definition of like a whole big population of people that you could help. This is really common in the coaching space, especially for coaches who've just gone through some kind of training. Because let's be real, like, coach training trains you how to do like, like incredible coaching with lots of different people. Right? So you have this belief that you can help pretty much everyone because you can. You absolutely can. But just because you can help, you can coach people, doesn't necessarily mean that you can build a business on that. All right? For you to attract consistent clients and be able to charge enough to make your Work viable. You need a niche. You need to be able to point to people and say, I help this type of person who has these kinds of problems and who wants this kind of result. Okay? Not, I help professionals who are on big in big transitions get to the other side. Way too broad. Absolutely. Way too broad. It might be that you help, like, new parents re enter the workforce after they have their babies. Absolutely. It could be that you coach people through their retirement. It could be that you coach people through divorces or through, like the process of getting married. You know, like, you need to really zone in on what is the transformation that you're actually helping people with. All right. The other thing that I bump into is people, like, just listing off, like, the plethora of services that they offer people. Right. I do, like in this, this happens a lot in the marketing space. Like, I do SEO and I do copywriting and I website design. And I do this and I do this and I do this and I do this and I do this. And I mean, like, a lot of people need that stuff. You know, you have to get specific about what is the population that you serve and what are the specific problems that they're running up against right now that's making it hard for them to get what they want. All right? You have to get really specific. And I know most of the time I get pushback, like, well, aren't I going to scare away clients? Yes. Yes, you are. And that's the whole point. I know, I know. Like, I can really only take at max 13, and that's really pushing it. One on one clients per year. Okay, so let's do some math, shall we? Okay, so I'm 36. I just turned 36. I plan on working for like another 30 years. All right? Let's hope I'm still relevant in 30 years. Let's just assume I am 30 years. If I max out at 13, 101 clients per year, that's a max of 390 people that I can work with. One on one. Okay. There are how many billions of people in our country? Okay. I can find 390 people to work with. Okay. And you can too. Okay. Whatever your number is, you can absolutely find that too. You want to scare people away. You want to be irrelevant to a lot of people? Because here's what we do subconsciously, and I want you to notice this next time you meet someone is we subconsciously scan for are you useful to me? And if you are, how are you useful to me? And if you're not, Useful to me? Are you useful to someone that I know so I can introduce you to and then up my social capital because I was helpful to two people? Okay, I know it sounds cold in calculating, but I promise you, you do it all the time. I was in a tennis lesson this morning, and, you know, I just joined this tennis club. I really want to get back into tennis. Today was my second lesson getting back into it. I haven't played in, like, 15 years, and there are a few people in the class, and, you know, you kind of scan for, like, who is the same level as you, because you don't want to play with someone who's a lot better because you could make them worse. And you don't want to play with someone worse because they could make you worse. That's. It's funny. That's just how tennis works. And so I met someone, and I'm like, oh, my God. She's kind of the same level as me. Like, we're. We're both, like, kind of mediocre. Like, we could absolutely play together. And of course, like, you know, she was useful to me and of course, everyone else in the class. There was one who is a lot worse than me and someone who is a lot better. And, you know, they're amazing people, and I'm really excited for them. And if I meet someone who's at their level, who wants to play and practice, I will absolutely be introducing them, but for my purpose, to find someone to practice with. This person that I identified as my level, I like, she was super useful to me. Right. And our brains do this so that we can form ties, so that we can have relationships, so that we can have our needs met. You know, if you just moved into a house and you go around the neighborhood and you introduce yourself and you're saying hi to everyone, and you're kind of hearing what everyone does, and one of the neighbors says that they're a plumber, and, you know, you want to redo one of the bathrooms. I bet you you're like, oh, you're a plumber. Oh, amazing. Because we're redoing our bathroom at some point in the next few months. Let me get your card, because, you know, I. I would love to. To hire you. Right. It's just human nature. We like being able to solve our problems as soon as possible, and we love doing it through relationship. Right. So as a business owner, you're actually doing yourself and your clients a massive disservice by not being super obvious about who you are useful to. All right. So your niche at base has to say who you're useful to, what problems, and specific problems. Not like they're lost in life and they can't figure out, like, you have to get really specific about what it is that they want. I'm sorry, what it is that they're struggling with. And then you also have to tell what is the desire that you help them achieve? Okay, what is it they want? And we want to get really specific with that as well. All right, you know, and let's. I mean, we can look at health coaching. I mean, there's so many different kinds of health coaches. There could be health coaches who help you, like, eat healthy. There are health coaches who help you run marathons. There are health coaches who help you lose weight. There are health coaches who help you build muscle. There are health coaches and health coaches and health coaches. They all help with different pain points and different desires and they help different populations. Okay? If you find someone who's like a super uber duber generalist, generally they're not making a whole lot of money with their one on one clients. They're having to do a whole bunch of business to be able to meet their needs. And often they're not able to do it because when you don't have a defined niche. Oh, Justin, hi. To keep that streak going. I am, thank you very much. But when you don't have a defined niche, it's. It's impossible to market yourself. Not. Not just hard, it is impossible to effectively market yourself. Okay? If you have friends who've gone to coach training, I guarantee you've seen those, those occasional posts saying, hey, everyone, I'm a coach and I'm looking for clients. Does anyone want to get life coaching? No. No one wants life coaching. People want to solve the problems that they have in their life. Okay? And if you're not speaking to that specific problem or that specific desire, then you're not relevant to them. So it's impossible to market yourself. It's also incredibly challenging to create an offer because, like, what's the offer going to accomplish for someone? Okay, Someone who wants to train for a marathon is very different from someone who, like, wants to learn how to lift weights. Okay? You can learn to lift weights in a few months. Training for a marathon takes a ton of time. All right? So your offer really has to be different for whatever niche you fit. Likewise, your sales call. It's going to be incredibly hard for you to do that with integrity if you don't have a specific niche. All right? And even if you do get someone on the sales call. Like you're going to come across as someone who's just like, oh yeah, I can do that too. And oh yeah, I can do that too. And that doesn't instill confidence. That doesn't, that doesn't make people feel like you're the go to expert and they should definitely spend their money with you. Just doesn't work that way. It like, it just bleeds into making everything so much harder for you. Right. And at the end of the day, you don't make a whole lot of money without a niche. All right? So if you're struggling with figuring out what your niche is, then it's one of the things that I train my clients on. I walk them through exactly how to not only decide on one, but actually go and market test it before you waste a whole fuck ton of time. Before you create a whole marketing strategy and design an offer that no one wants to buy and go out and try to sell it. Right. We want to market test that and make sure that there's actually an audience for what you're selling. Okay. So if you're struggling with that and you need help, DM me, okay? This is what I do with my programs and I'm incredibly effective at it. Anyway, just notice how I just said that if you're struggling to come up with a niche with who you help and you have all these problems coming up and you really, really want this, and I kind of alluded to you wanting to have a successful business, that's how I'm useful to you. That is a niche. So case in point. Anyway, it is Saturday evening and I'm keeping my streak strong. Today's Day 22. We have eight more days. That's how math works. We have eight more days of me going live every single day. And so I cannot wait to go live with you tomorrow. If you have any topics that you want me to go live on, then please, please DM me. I could use some ideas. This is becoming these 30 day streaks I do, occasionally they get a little bleak at the end. People are afraid to ask for the business. Breaks my heart when business owners aren't willing to try that. Yeah, you know, it's something that we all have to learn. Did you ask for the sale? That was one question that I always got from a sales manager in my first sales job. And it's true. Sometimes you forget to ask for the sales. Sometimes you forget to ask someone to be your client. But you know what, like, you have to, you have to create that pain for yourself. You have to, like, have the sales call and forget and forget and forget and then get to the point where you get sick of yourself. Or you have to have really excellent sales training with someone who, I don't know, like Katie McManus, who trains her clients on all the stuff. So, anyway, on that Note, I'm Katie McManus, business strategist and money mindset coach. Thank you for being here, Justin, and everyone else who I don't know who you are or if you're watching and if you were commenting because sometimes things don't show up. Anyway, I will be live with you tomorrow, and I hope you have an amazing Saturday. And good night, everyone.