Traditional Niche vs Modern Niche
When business owners are picking a niche, is choosing traditional niches like an industry or a location the best way to move forward?
What if you’re struggling to choose only ONE specific industry to work with?
What if you don’t want to limit yourself to a location?
Are those your only options when choosing a niche?
Not at all.
While there’s nothing wrong with choosing a niche in a specific industry or location, I’m writing this article to let you know it’s not your only option. There are good alternatives.
Why pick a niche in the first place?
Picking a niche is a great way to stand out in your marketing because you’re:
- Speaking to a specific group of people
- Delivering better results to your clients (because you understand your niche better)
- Getting better results with your own lead generation strategies.
So whatever happens, it’s good to be specific with the kind of people you can help and HOW you can help them.
With that in mind… How do you pick a niche without choosing an industry or location?
What is the best niche alternative?
There’s a totally alternative way to picking a niche, and it has nothing to do with the industry or location.
So, what is it?
It’s focusing on the big painful problem you solve for potential clients.
The big problem you solve for clients CAN BE your niche.
Think about it.
A niche is a way to target a specific group of people who have something in common.
So a specific group of people could all have the same problem that you can help them with and that could be your niche.
For example, in my business, there are some industries we’ve got more experience with in helping (like financial services, marketing agencies, consultants, etc). But rather than solely helping a specific industry, or helping people in a specific location, we can help almost any business in any location as long as they have that painful problem I help them solve.
This is the problem we solve for clients: How to get high quality predictable leads and sales appointments with ideal clients every month.
So if you’re struggling to pick a niche by choosing an industry or location, remember, that’s not your ONLY option.
You can also help people solve a common big painful problem.
This option especially works well if you’ve already got an established business with a variety of clients.
Now I’ll give a word of caution: If you are a NEW business with no (or very few) clients, then choosing a specific industry to help in the beginning will help you get faster results. So you can always pick a more specific niche in the beginning and then widen out.
But if you already have lots of clients in different industries and locations, then you don’t have to limit yourself to working with only one of them (if you don’t want to).
Instead, focus on the big painful problem you solve for your clients instead.