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Unsure about switching your business niche? Here’s what you need to know
There’s a five letter word that gets thrown around all the time in the entrepreneurial world, and for good reason.
The word I’m referring to is N-I-C-H-E, and the reason that it’s talked about so much is because having a niche — or a thing that you’re known for in business — is incredibly important if you want to stand out from the pack, and serve your audience at the highest level.
But what if you feel like your digital course niche simply isn’t working for you? Maybe you’re not selling very much, or something just feels off about it.
The question becomes whether you should keep on keepin’ on with your current niche, or move on to something different.
And that’s what today’s episode is all about. The decision to change your niche can be a tough one, sweet friend, so I’m going to walk you through some things that might make the process a little bit easier for you.
You’ll hear:
- 4 questions to ask yourself before you switch your niche
- My experience with switching niches early on in my business
- How to carry the momentum of your current niche into your new one
- What you can expect if you switch into a niche that’s entirely different
I promise, this episode might just be the gut check that you need if you’re thinking about going in a different direction. So pop in your earbuds, and give it a listen!
Here’s a glance at this episode…
- [06:45] I changed my niche early on in my business. I wanted to change my business model and move away from one-on-one.
- [08:04] I decided to sell digital courses and created a course around Facebook marketing. This course put me on the map.
- [11:36] Consistency puts you on the map. The way to cut through all the noise is to keep showing up for the same thing.
- [13:11] Over time, I went from all social media to just Facebook, and then all small businesses to those just wanting to market information products.
- [13:56] People started asking me how I was launching these digital courses so successfully. These questions came up enough that I couldn't miss them.
- [14:56] If you’re wondering if your niche is right, ask yourself, ‘Is this something I'm really interested in?” If your heart's not in it, become an affiliate.
- [17:43] What will I need to stop doing in order to make my new niche work? Am I willing to change my business to go all in on this new area? Can I make money?
- [20:48] You have a 10% edge when you've been doing something for a while and have solid results under your belt.
- [22:19] If you're considering switching directions, ask yourself if you gave the original niche enough time.
- [23:40] Prioritize building your audience. Don't jump ship before even giving it a chance. Grow your email list to at least 500 people and have social engagement.
- [24:47] If your new niche is very different from your current one, you will need to build a new audience and social media following.
- [26:28] Before switching your niche, ask: Is this new niche something I'm really interested in? Is there a demand for this niche? Can I make money with it? Can I add value? Do I have a 10% Edge?
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