Let’s talk about the top 7 myths, misconceptions and fears entrepreneurs have about picking a specific niche and what’s really true. It’s time to get these myths, misconceptions and fears out of the way so you can start attracting your ideal customer.
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You started your business and are afraid to niche down because you know you can help a lot of different types of customers and your worried you might lose out on clients. I get it, I wanted to help everyone. It wasn’t till I niched down that I started to attract the right clients.
Having a Niche will give you more access, open more doors, and allow you to make a greater transformation than when you are a generalist. Think about it – if you were having heart surgery would you rather go to a general surgeon or a heart surgeon? You narrow to the degree that it serves for both you and your client.
So why, then, do we resist against choosing a specific niche? Here are a few of misconceptions and fears of choosing a niche that I have heard and what the truth underneath each one really is:
1. “By narrowing my focus on a specific niche, I will narrow my opportunities for prospective clients.”
Truth: narrowing to a specific niche will actually open more doors and increase the interest of potential clients and strategic partners because your messaging, process and accompanying toolkit will be catered specifically to these prospective clients and, therefore, will be a whole lot more compelling and useful.
2. “I will repel prospective clients who aren’t in my Market Niche.”
Truth: People hire people they know, trust, like and feel can make a significant difference for them. Your ideal client is your “bullseye”, but many people will still end up on your “dartboard”. You get to decide who gets on the dartboard and who doesn’t, based on your own interest and whether you feel you can make a significant difference with them.
3. “I will be pigeon-holed and I want freedom to change up my business.”
Truth: You always have the flexibility to change up your business and your niche. Our businesses can always evolve and picking a specific niche never has to leave you feeling trapped.
4. “There won’t be enough prospective clients for me and I’ll go broke.”
Truth: You narrow to the degree that it serves you and the client. When looking at your prospective niche, you do want to do your research to get a sense of how many of these clients, as well as other businesses that focus on them, exist in your area. You don’t need mountains of people in this niche to have a very healthy business.
5. “My current clients who aren’t in my niche will stop working with me.”
Truth: Your clients only care that you are making a significant difference with them. If you are doing that, they will not care what type of marketing you are doing and who else you are serving. Plus, sometimes these clients can be even better at referring others to you when they know the type of clients you are trying to draw into your business.
6. “I will have to say NO to potential clients that aren’t in my Niche.”
Truth: You always get to choose. As an example, even though I absolutely can serve as an Executive Coach having done that for several years and having a deep understand to serve them, I have chosen not to because I’d much rather serve Entrepreneurs than Executives. But, if I choose to, the people that are referred to me would absolutely prefer working with me over getting a referral to another coach because I came strongly referred from someone they trust. There really are no limits here, except what limits you choose to enforce yourself.
7. “I don’t know how to pick a Niche or where to begin.”
Truth: Most people don’t know where to begin, which is why it’s a major component to my coaching program. However, with a little guidance, you will see that the niche identification process is actually really fun, interesting, and clarity producing. It doesn’t have to be hard! And if you know you want more support, you can reach out to do a
free Business Clarity
call and I’ll help get you started – and if you still need more support we can talk about working together by either joining my 1:1 coaching program and I guide you through the niche development process based on the amount of support you need.
