Episode 1 – HOW TO PICK YOUR NICHE. If you’re ready to launch your online business and need to pick your niche, this Q&A episode is your blueprint.
Kathy wants to learn how to pick a niche for her online business.
I know you keep saying that we have to niche down and pick a specific niche for our business. But I CAN’T… I’m afraid of losing customers or revenues if I niche more. I currently offer many services: website design, branding, copywriting, and social media management. Please help me understand because I can’t figure out how I can niche more!
Thanks in advance!
Here is what you can do.
Look at your numbers
Which of the services you offer is the most and less profitable? If you take the revenue that you generate with your website design service minus the expenses (the direct cost, which means the employees you have to pay), how much profit do you make from this service?
Do the same for the other services.
Pick an industry
You could target only Yoga and CrossFit studios, coaches, or online course creators, or maybe you create websites for businesses selling online products.
In my case, if I am looking for someone for my website or copywriting, I will google copywriting, but I will also add the words coach and online course creator to find someone who has expertise with this type of client.
Maybe in your area, many businesses are creating websites … but only a few offer a website design for coaches and online educators.
In my case, it will be easy to select the one I will contact to get more info.
Another tip: Maybe you want to offer your branding, copywriting, and social media management only if they take the website design service. You could do that by creating different packages :
- Package 1: website design
- Package 2: website design and copywriting
- Package 3: website design, branding, and copywriting
- Package 4: website design, branding, copywriting, and social media management
Remember, you can’t sell everything to everyone!