{"id":7902,"date":"2020-08-07T18:22:41","date_gmt":"2020-08-07T18:22:41","guid":{"rendered":"http:\/\/blog.growthtools.com\/?p=7902"},"modified":"2020-10-30T00:22:38","modified_gmt":"2020-10-30T00:22:38","slug":"how-to-find-a-profitable-niche","status":"publish","type":"post","link":"https:\/\/blog.growthtools.com\/?p=7902","title":{"rendered":"Niching Down to Grow Your Business: How to Find a Profitable Niche"},"content":{"rendered":"<p>What\u2019s the #1 thing you can do to charge more, build authority, and get better customers for your business?<\/p>\n<p>It\u2019s not running Facebook ads. It\u2019s not adding more products. It\u2019s not appealing to a wider audience.<\/p>\n<p><strong>It\u2019s finding a <\/strong><strong>profitable niche<\/strong><strong>. <\/strong><\/p>\n<p>Having a profitable niche means you know exactly who your audience is, what problem they have, and how you solve that problem.<\/p>\n<p>You can go from:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7899\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2.png\" alt=\"Before: I'm a vacation planner; After: I plan once-in-a-lifetime two-week trips to Peru for working couples. Before: I'm a CPA; After: I provide complete financial audits for biotech companies; Before: I'm a master gardener; After: I teach suburban families how to grow delicious food in their backyards.\" width=\"1600\" height=\"1022\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-300x192.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-1024x654.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-768x491.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-1536x981.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7899\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2.png\" alt=\"Before: I'm a vacation planner; After: I plan once-in-a-lifetime two-week trips to Peru for working couples. Before: I'm a CPA; After: I provide complete financial audits for biotech companies; Before: I'm a master gardener; After: I teach suburban families how to grow delicious food in their backyards.\" width=\"1600\" height=\"1022\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-300x192.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-1024x654.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-768x491.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/2-1536x981.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p><strong>You might have these nagging doubts about niching down, such as: <\/strong><\/p>\n<ul>\n<li>Won\u2019t the market be <em>too small<\/em>?<\/li>\n<li>Will I be locked into one business model <em>forever<\/em>?<\/li>\n<li>What if I pick the <em>wrong<\/em>\u00a0niche?<\/li>\n<\/ul>\n<p><strong>We\u2019ll address those in this post, but know that if you follow our exact steps to find your niche:<\/strong><\/p>\n<ul>\n<li>You\u2019ll have more customers than before.<\/li>\n<li>Your product will be <em>just<\/em>\u00a0specific enough to excite your audience.<\/li>\n<li>You won\u2019t get boxed into just one business model.<\/li>\n<\/ul>\n<p><strong>So how do you find the right niche?<\/strong><\/p>\n<p>In this post, we\u2019ll give you the exact process for niching down that we\u2019ve used with hundreds of coaching clients:<\/p>\n<ul>\n<li>Step 1: <a href=\"#segment\">Segment your audience<\/a>.<\/li>\n<li>Step 2: <a href=\"#problem\">Dig into the problem they want solved<\/a>.<\/li>\n<li>Step 3: <a href=\"#decide\">Decide how you do and don\u2019t solve that problem<\/a>.<\/li>\n<li>Step 4: <a href=\"#test\">Test your niche<\/a>.<\/li>\n<\/ul>\n<p>This won\u2019t take you months of research. It will take a few hours of your spare time. But the results can <strong>transform your business<\/strong><strong>.<\/strong><\/p>\n<p>Before we dig into the tactical details, we\u2019ll look at an example of what niching down did for <a href=\"https:\/\/nehapremjee.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Neha Premjee<\/a>,\u00a0who now\u00a0earns $5,000 per month in coaching fees because she niched down correctly. After her story, we\u2019ll address three misconceptions about niching down then walk through our four-step process.<\/p>\n<h2>How Neha Premjee Went from \u201cHealth and Wellness\u201d to \u201cAyurvedic Weight Loss\u201d\u00a0\u2014 And Started Hitting $8,000 per Month in Fees<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-7895\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7.png\" alt=\"A photo of Neha Premjee\" width=\"448\" height=\"672\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7.png 491w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7-200x300.png 200w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-7895\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7.png\" alt=\"A photo of Neha Premjee\" width=\"448\" height=\"672\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7.png 491w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-7-200x300.png 200w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/noscript><\/p>\n<p>Before starting her business, Neha went through a transformative journey of her own to lose 70 pounds. She wanted to share her process with others, so she became a \u201chealth and wellness coach.\u201d<\/p>\n<p>There was just one problem.<\/p>\n<p><strong>There are thousands of other \u201chealth and wellness\u201d coaches out there.<\/strong>\u00a0She had great advice but no way to reach the right people.<\/p>\n<p>She tried rebranding as a \u201cweight loss\u00a0coach.\u201d It didn\u2019t help much. So, Neha thought through the exact methods she used to lose weight and gain confidence. She examined exactly who she was best equipped to teach. And then she tested her ideas.<\/p>\n<p>Now she\u2019s an <strong>Ayurvedic <\/strong><strong>weight loss<\/strong><strong>\u00a0coach for women<\/strong>.<\/p>\n<p>Can you see the difference?<\/p>\n<p>You might think she doesn\u2019t find many clients that way. It\u2019s a fear Neha had herself. But what actually happened was that Neha:<\/p>\n<ul>\n<li>Attracts <em>more<\/em>\u00a0clients.<\/li>\n<li>Books $5,000\/month in coaching calls.<\/li>\n<li>Works with only her ideal clients.<\/li>\n<li>Doesn\u2019t need to work with clients who object to Ayurveda.<\/li>\n<li>Has more energy to put back into her business.<\/li>\n<li>Finds it easy to <a href=\"https:\/\/blog.growthtools.com\/blog\/partnership-marketing\/\" target=\"_blank\" rel=\"noopener noreferrer\">build partnerships<\/a>\u00a0with brands in her space.<\/li>\n<\/ul>\n<p>That\u2019s the power of choosing the right niche.<\/p>\n<p><i data-stringify-type=\"italic\">Neha is one of our business coaching program clients. In the program, our certified coaches will give you step-by-step in<\/i><em>structions so you can focus on doing the most impactful thing for your business. Want us to audit your business strategy and help you skyrocket revenue in the next 90 days?\u00a0<a class=\"c-link\" href=\"https:\/\/lp.growthtools.com\/skyrocket?utm_source=gc&amp;source=profitableniche-blogpost\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/lp.growthtools.com\/growth-university?utm_source=gc&amp;source=profitableniche-blogpost\" data-sk=\"tooltip_parent\">Book a complimentary strategy session with us today<\/a>.<\/em><\/p>\n<h2>3 Common Misconceptions About Finding a Profitable Niche<\/h2>\n<p>Some of our clients come into Growth University with pre-formed opinions about niching down. These are the three most common misconceptions we hear:<\/p>\n<ol>\n<li>Niching down boxes you into one business model forever.<\/li>\n<li>Niching down means you have fewer customers to attract.<\/li>\n<li>Niching down means choosing a really narrow target audience.<\/li>\n<\/ol>\n<p>None of those are true. And believing them will keep you from finding your niche.<\/p>\n<h3>Misconception #1: Niching Down = Boxed In<\/h3>\n<p>We get it.<\/p>\n<p>You didn\u2019t become an entrepreneur to get locked into something you don\u2019t enjoy.<\/p>\n<p>No one\u2019s asking you to.<\/p>\n<p><strong>Pick a niche you enjoy. Hit it hard. Become the best at what you do.<\/strong><\/p>\n<p>When you do that, something funny happens. You start getting customers who want to know, <em>\u201cCan you help me, too?\u201d<\/em><\/p>\n<p>In other words, fine-tuning your messaging for one niche can naturally attract new customers from another niche. Why? Because you paint such a clear picture of your audience that those new customers can see themselves in your existing customers.<\/p>\n<p>Here are some examples:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7889\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3.png\" alt=\"What you offer, Audience you serve, &quot;Me, too!&quot; Audience\" width=\"1600\" height=\"782\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-300x147.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-1024x500.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-768x375.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-1536x751.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7889\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3.png\" alt=\"What you offer, Audience you serve, &quot;Me, too!&quot; Audience\" width=\"1600\" height=\"782\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-300x147.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-1024x500.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-768x375.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/3-1536x751.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>You could generalize it this way:<\/p>\n<ul>\n<li>Everyone can see that you know how to do \u2018X\u2019 really well.<\/li>\n<li>You teach \u2018X\u2019 to \u2018Y\u2019 people.<\/li>\n<li>\u2018Z\u2019 people raise their hands and say, \u201cHey, if you can teach \u2018X\u2019 to \u2018Y\u2019, can you teach me, too?\u201d<\/li>\n<\/ul>\n<p>The specificity of your offer will attract people you didn\u2019t intend. And it gives you a way to expand your niche without any extra research needed.<\/p>\n<p>But <strong>even if you never get the \u201cMe, too?\u201d additions to your audience<\/strong>, remember the increase in your close rate with your niche will more than make up for any reduction in market size.<\/p>\n<p>Plus, there are plenty of ways to grow your business further after you niche down.<\/p>\n<ul>\n<li>You can make a new product for another pain point\u00a0your audience has.<\/li>\n<li>You can offer different types of solutions for their pain point\u00a0(e.g. book, course, high-end coaching, paid membership community\u2026).<\/li>\n<\/ul>\n<p><strong>Your niche won\u2019t limit your success.<\/strong><\/p>\n<h3>Misconception #2: Niching Down = Fewer Customers<\/h3>\n<p>When you niche down, the market size you appeal to gets smaller.<\/p>\n<p><strong>So what?<\/strong><\/p>\n<p>Even massive, billion-dollar companies aren\u2019t capturing 100% of the customers in their market. You\u2019re competing for a <em>fraction<\/em>\u00a0of all those customers.<\/p>\n<p>So what if, instead of being on the same playing field as your current competitors, you could position yourself as the far-and-away best solution for that fraction?<\/p>\n<p>If you do that, your ability to close those customers (aka your \u201cconversion rate\u201d) goes way up, and <em>this<\/em>\u00a0is how you can massively grow your business by niching down:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7892\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9.png\" alt=\"&quot;Weight loss coach&quot; has a tiny close rate while the more niche &quot;Ayurvedic Weight Loss Coach&quot; has a much bigger close rate.\" width=\"1600\" height=\"638\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-300x120.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-1024x408.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-768x306.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-1536x612.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7892\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9.png\" alt=\"&quot;Weight loss coach&quot; has a tiny close rate while the more niche &quot;Ayurvedic Weight Loss Coach&quot; has a much bigger close rate.\" width=\"1600\" height=\"638\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-300x120.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-1024x408.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-768x306.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/9-1536x612.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>In other words, <strong>you aren\u2019t losing any customers by niching down.<\/strong>\u00a0The higher close rate you are bound to get can dramatically increase your total customers (blue bars above).<\/p>\n<p>And it gets better. The customers you have when you niche down? They like you a whole lot better than before. And that means you\u2019re more likely to get strong testimonials and useful feedback from your target audience.<\/p>\n<p>Those testimonials help you make more sales. And the feedback? Just what you need to keep improving your product.<\/p>\n<p>Look at how one of Neha\u2019s clients talks about her in a <a href=\"https:\/\/nehapremjee.com\/testimonials\/\" target=\"_blank\" rel=\"noopener noreferrer\">testimonial<\/a>. The specific messaging she saw (Ayurvedic method, individualized plans) is what drew her in.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7886\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1.png\" alt=\"Testimonials from Neha\u2019s clients prove that her niche Ayurvedic method was a well-welcomed niche.\" width=\"1600\" height=\"294\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-300x55.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-1024x188.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-768x141.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-1536x282.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7886\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1.png\" alt=\"Testimonials from Neha\u2019s clients prove that her niche Ayurvedic method was a well-welcomed niche.\" width=\"1600\" height=\"294\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-300x55.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-1024x188.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-768x141.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1-1536x282.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>If Neha had still been a \u201cweight loss\u201d coach when Pari found her, do you think she would have become her student?<\/p>\n<p>Not likely.<\/p>\n<h3>Misconception #3: Niching Down = Choosing a Really Narrow Target Audience<\/h3>\n<p>Choosing a target audience\u00a0isn\u2019t the same as finding a profitable niche. A true niche is based on three things:<\/p>\n<ol>\n<li>Who your audience is.<\/li>\n<li>What problem they have.<\/li>\n<li>How you solve that problem.<\/li>\n<\/ol>\n<p>Sometimes, a client we\u2019re coaching will come to us and say, \u201cOh, I already know my niche. It\u2019s 30- to 40-year-old moms who live in Michigan.\u201d<\/p>\n<p>This isn\u2019t a real niche. This is just an arbitrary limit on their target audience.<\/p>\n<p>If you target middle-aged moms, it needs to be because your <em>solution<\/em>\u00a0is only relevant for <em>their specific <\/em><em>pain points<\/em>.<\/p>\n<p>For example, if you sell relaxing, floral-scented bath soaps, you wouldn\u2019t target just moms. But some people do this just to feel like they have a niche. In reality, slapping a headline like \u201cFloral-scented bath soaps for busy moms!\u201d on your website is a poor marketing strategy. You\u2019re just guessing who <em>might<\/em>\u00a0like your product. In fact, you might struggle to sell to mothers (how many of them have the <em>time<\/em>\u00a0to take a long, soothing bath?!).<\/p>\n<p>You\u2019d need to find a demographic that:<\/p>\n<ol>\n<li>Has the desire to relax.<\/li>\n<li>Has the time to do it via a calming bath.<\/li>\n<\/ol>\n<p>If you do find that, then <em>that\u2019s<\/em>\u00a0your niche audience.<\/p>\n<p>On the other hand, if you\u2019re selling a system for managing work and motherhood, you would only target working moms who struggle to balance it all.<\/p>\n<p><strong>Niching down isn\u2019t about <\/strong><strong>demographics.<\/strong><em>\u00a0<\/em>It\u2019s about what real people need and how you help them meet that need.<\/p>\n<h2>4 Steps to Find a Profitable Niche<\/h2>\n<p>So now you\u2019re sold on the benefits of niching down? Good.<\/p>\n<p>Let\u2019s dig into the four steps to finding your niche:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7900\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10.png\" alt=\"1) segment your audience; 2) dig into the problem they want solved; 3) decide how you do and don't solve that problem; 4) test your niche\" width=\"1600\" height=\"442\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-300x83.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-1024x283.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-768x212.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-1536x424.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7900\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10.png\" alt=\"1) segment your audience; 2) dig into the problem they want solved; 3) decide how you do and don't solve that problem; 4) test your niche\" width=\"1600\" height=\"442\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-300x83.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-1024x283.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-768x212.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/10-1536x424.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<h3 id=\"segment\">Step 1: Segment\u00a0Your Audience<\/h3>\n<p>This step is going to look different based on whether you have an existing audience or not.<\/p>\n<ul>\n<li><strong>If you <\/strong><strong>don\u2019t<\/strong><strong>\u00a0have an audience and you\u2019re picking your niche for the first time, <\/strong><strong><a href=\"#picking-niche\">start here.<\/a><\/strong><\/li>\n<li><strong>If you <\/strong><strong>do<\/strong><strong>\u00a0have an audience and you\u2019re clarifying your niche, <\/strong><strong><a href=\"#zeroing-in\">start here<\/a><\/strong><strong>.<\/strong><\/li>\n<\/ul>\n<h4 id=\"picking-niche\">If You\u2019re Selecting a Niche for the First Time<\/h4>\n<p>Finding a profitable niche\u00a0is harder for someone who doesn\u2019t have an existing business.<\/p>\n<p>Before you can even think about your target market, you have to first examine yourself. This self-examination has three steps:<\/p>\n<p><strong>1. Write down your interests, passions, and skills.<\/strong>\u00a0Stuff\u00a0like:<\/p>\n<ul>\n<li>Gardening.<\/li>\n<li>Planning vacations.<\/li>\n<li>Auditing budgets.<\/li>\n<li>Organizing information in user-friendly ways.<\/li>\n<\/ul>\n<p><strong>2. Jot down problems you\u2019ve solved for yourself or someone else. <\/strong>Here are some examples to kick off your brainstorm:<\/p>\n<ul>\n<li>Set up a budget system you actually stuck to (even though you love spending).<\/li>\n<li>Got quality sleep even with a newborn in the house.<\/li>\n<li>Created recurring reminders for all your home maintenance chores.<\/li>\n<li>Helped your kids research and get into amazing schools.<\/li>\n<li>Organized volunteers at a local animal shelter.<\/li>\n<li>Streamlined your team\u2019s morning standups.<\/li>\n<\/ul>\n<p><strong>3. Ask yourself these questions:<\/strong><\/p>\n<ul>\n<li>Who might pay me to <em>teach them<\/em>\u00a0how I do [item you\u2019ve listed]?<\/li>\n<li>Who might pay me to <em>do<\/em>\u00a0[item you\u2019ve listed]?<\/li>\n<\/ul>\n<p>For example, if you\u2019re an amazing vacation planner, maybe stay-at-home parents would pay a modest fee to learn your methods. Or maybe you should market your planning services to high-powered executives who aren\u2019t happy with run-of-the-mill concierge services.<\/p>\n<p>But that\u2019s assuming they\u2019ll pay you &#8230; and you don\u2019t know that at this stage.<\/p>\n<p>Your answers from this exercise will form a hypothesis you can test as you progress <a href=\"#research-demand\">through the rest of this guide<\/a>.<\/p>\n<h4 id=\"zeroing-in\">If You\u2019re Zeroing in on a More Specific Niche<\/h4>\n<p>If you already have an existing audience, finding a profitable niche\u00a0is much easier. You\u2019ve already done half the work. (And if you have existing <em>customers<\/em>, that\u2019s even better.)<\/p>\n<p>To zoom in on who is buying from you and why, send your past customers a survey. If you\u2019re worried they won\u2019t respond, offer an entry into a giveaway for three $20 Amazon\u00a0gift cards to all survey respondents. Put a week-long time limit on it and see who responds.<\/p>\n<p>Put these questions into a <a href=\"https:\/\/www.google.com\/forms\/about\/\" target=\"_blank\" rel=\"noopener noreferrer\">Google<\/a><a href=\"https:\/\/www.google.com\/forms\/about\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a0form<\/a>\u00a0to collect answers:<\/p>\n<ul>\n<li>Your name <em>(optional)<\/em>.<\/li>\n<li>Your email<em>\u00a0(optional, but required if you want to be eligible for our <\/em><em>Amazon<\/em><em>\u00a0card giveaway)<\/em>.<\/li>\n<li>What product(s) did you buy from us? <em>(Create boxes they can check vs. typing the answer.)<\/em><\/li>\n<li>Did it\/they work?<\/li>\n<li>What problems did our product solve for you?<\/li>\n<li>How would you describe what you bought to someone else that also needed help like you?<\/li>\n<li>How would they describe our company?<\/li>\n<li>Anything else you want us to know?<\/li>\n<\/ul>\n<p>Once you\u2019ve gotten responses, see who is buying from you and why. Create audience sub-categories\u00a0based on the answers.<\/p>\n<p>For example, if you sell piano lessons, you might end up with these categories:<\/p>\n<ul>\n<li>Retirees who wanted to learn but never had time before.<\/li>\n<li>Children whose parents bring them (whether or not they want to learn).<\/li>\n<li>Dementia patients whose caregivers read that piano lessons would slow their mental decline.<\/li>\n<\/ul>\n<p>Save these for step two, where we\u2019ll dive deeper into the problems you solve for your audience.<\/p>\n<p><strong>What if you haven\u2019t actually sold anything, but you do have an audience?<\/strong><\/p>\n<p>You can still poll your audience. But instead of asking people what they bought, ask them things like:<\/p>\n<ul>\n<li>Why did you follow me\/subscribe to my list?<\/li>\n<li>What have you learned from me?<\/li>\n<li>What did you want to learn from me?<\/li>\n<li>How would you describe my content to someone else who you think would enjoy it?<\/li>\n<\/ul>\n<p>Ask for details, and don\u2019t be afraid to follow up with more questions based on their answers.<\/p>\n<p>When you\u2019re done, you should have two to three types of people who might be your target audience.<\/p>\n<h3 id=\"problem\">Step 2: Dig into Their Problem<\/h3>\n<p>From step one, you should have:<\/p>\n<ol>\n<li>Some options for who your audience is.<\/li>\n<li>A general idea of the problem you solve for them.<\/li>\n<\/ol>\n<p>In step two, it\u2019s time to dig deeper into their problem.<\/p>\n<p>You\u2019ve heard stuff\u00a0like \u201cknow their pain points\u201d and \u201cspeak their language\u201d before. But what does that <em>actually mean<\/em>?<\/p>\n<p>This:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7898\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4.png\" alt=\"What people say, what people mean, example\" width=\"1600\" height=\"1242\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-300x233.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-1024x795.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-768x596.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-1536x1192.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7898\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4.png\" alt=\"What people say, what people mean, example\" width=\"1600\" height=\"1242\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-300x233.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-1024x795.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-768x596.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/4-1536x1192.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p><strong>This brings us to a really important reality:<\/strong><\/p>\n<p>The way YOU describe the problem\/solution is not always how YOUR AUDIENCE describes it.<\/p>\n<p>Let\u2019s do\u00a0an example.<\/p>\n<p>One of our clients\u00a0helps people in the IT industry become project managers. One of those people\u2019s big pain points\u00a0is that they don\u2019t know what to do about certifications.<\/p>\n<p>They don\u2019t know which ones they need. They don\u2019t know how to study for them. And they fear that they can\u2019t become a project manager without most of them.<\/p>\n<p>But our student knows something they don\u2019t: Most of those certifications are worthless. They don\u2019t need them. In fact, most people don\u2019t need <em>any<\/em>.<\/p>\n<p>Initially, he didn\u2019t address certifications in his messaging.<\/p>\n<p>But that\u2019s not the headspace his audience is in. They are absolutely convinced that certifications are keeping them from becoming a project manager.<\/p>\n<p>So in his course description, he tells them he\u2019ll cover which certifications to get and how to get them. It\u2019s true. He does do that. It\u2019s just not as important as they think.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7890\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6.png\" alt=\"Missing the problem - Audience states: &quot;We need certifications&quot; and you respond &quot;No, you don't.&quot;\" width=\"1600\" height=\"756\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-300x142.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-1024x484.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-768x363.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-1536x726.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7890\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6.png\" alt=\"Missing the problem - Audience states: &quot;We need certifications&quot; and you respond &quot;No, you don't.&quot;\" width=\"1600\" height=\"756\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-300x142.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-1024x484.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-768x363.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/6-1536x726.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7901\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7.png\" alt=\"Addressing the problem - Audience says &quot;We need certifications&quot; and you respond &quot;I'll show you which ones and how to get them.&quot;\" width=\"1600\" height=\"756\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-300x142.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-1024x484.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-768x363.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-1536x726.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7901\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7.png\" alt=\"Addressing the problem - Audience says &quot;We need certifications&quot; and you respond &quot;I'll show you which ones and how to get them.&quot;\" width=\"1600\" height=\"756\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-300x142.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-1024x484.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-768x363.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/7-1536x726.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>So what\u2019s the key to understanding how your audience sees their problem?<\/p>\n<p>We\u2019re going to do two things:<\/p>\n<p>A) Find their \u201cIf I just had ______, life would be better\u201d statements.<\/p>\n<p>B) Research demand for a solution to the problem.<\/p>\n<h4>A) Find their \u201cIf I just had ______, life would be better\u201d statements.<\/h4>\n<p>See if these statements sound familiar:<\/p>\n<ul>\n<li>If I could just lose 10 pounds, I would wear the clothes I want.<\/li>\n<li>If I could just get paying customers, I would quit my boring day job and live the life of freedom I always dreamed of.<\/li>\n<li>If I could just get to sleep on time, I\u2019d feel so much better.<\/li>\n<\/ul>\n<p>Keep in mind that people don\u2019t write down concise descriptions of what\u2019s wrong and why. It\u2019s often a rambly post with lots of extra information.<\/p>\n<p>Like this one:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7896\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8.png\" alt=\"&quot;I lost all motivation!&quot; A facebook post from someone trying to lose weight with a lack of motivation.\" width=\"583\" height=\"398\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8.png 583w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8-300x205.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7896\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8.png\" alt=\"&quot;I lost all motivation!&quot; A facebook post from someone trying to lose weight with a lack of motivation.\" width=\"583\" height=\"398\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8.png 583w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-8-300x205.png 300w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/noscript><\/p>\n<p>She talks about how frustrated she is with herself and her weight. <em>If only she were motivated\u2026<\/em><\/p>\n<p>Let\u2019s rewrite what she said into an \u201cif only\u201d statement:<\/p>\n<p>\u201cIf only I were motivated\/had accountability, I wouldn\u2019t hate the way I look and feel.\u201d<\/p>\n<p><strong>So where do you look to find these statements?<\/strong><\/p>\n<p>Facebook groups and online forums are the best places to start. In general, you need to:<\/p>\n<ol>\n<li>Identify two to three Facebook groups and forums that have the same audience you\u2019re testing.<\/li>\n<li>Search for threads where someone asks about the issue you would solve for them.<\/li>\n<li>If you can\u2019t find anything, just ask.<\/li>\n<\/ol>\n<p>Here\u2019s what it looks like if you search for Facebook groups on sustainable weight loss:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7888\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3.png\" alt=\"Facebook groups can be extremely useful in finding your niche\" width=\"1600\" height=\"705\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-300x132.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-1024x451.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-768x338.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-1536x677.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7888\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3.png\" alt=\"Facebook groups can be extremely useful in finding your niche\" width=\"1600\" height=\"705\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-300x132.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-1024x451.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-768x338.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-3-1536x677.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>Next, click into the group and start digging. We found the motivation example above in the \u201cWeight Loss\u00a0Groups for Women.\u201d<\/p>\n<p>To get the best statements and information, you will have to join private groups. These groups have admins who care about what gets posted. And that means you must never, ever break the cardinal rule:<\/p>\n<p><strong>Never try to sell something to someone else\u2019s Facebook group.<\/strong><\/p>\n<p>Got it? Good.<\/p>\n<p>If you\u2019re looking at forums, then the threads people start can be golden. For example, this woman clearly stated what she wants and how she wants it:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7894\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6.png\" alt=\"A post from someone looking to lose fat\" width=\"1135\" height=\"224\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6.png 1135w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-300x59.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-1024x202.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-768x152.png 768w\" sizes=\"auto, (max-width: 1135px) 100vw, 1135px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7894\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6.png\" alt=\"A post from someone looking to lose fat\" width=\"1135\" height=\"224\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6.png 1135w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-300x59.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-1024x202.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-6-768x152.png 768w\" sizes=\"auto, (max-width: 1135px) 100vw, 1135px\" \/><\/noscript><\/p>\n<p>She wants to lose fat (not weight), and she needs to do it at home.<\/p>\n<p>Let\u2019s move on to part two.<\/p>\n<h4 id=\"research-demand\">B) Research Demand for a Solution to the Problem<\/h4>\n<p>No matter how much you like a niche, your business will fail if you don\u2019t have customers.<\/p>\n<p><strong>You need hard evidence that people are willing to buy your solution.<\/strong><\/p>\n<p>This stage of research <em>does not<\/em>\u00a0provide that hard evidence (we\u2019ll get to that in step 4 and beyond). But it <em>does<\/em>\u00a0keep you from wasting your time building a product that nobody cares about.<\/p>\n<p>There is a ton of advice out there on how to gauge interest in your niche. \u201cResearch affiliate marketing\u00a0categories on Clickbank.com!\u201d \u201cLook at best sellers\u00a0on ecommerce\u00a0platforms like Amazon\u00a0or eBay!\u201d \u201cSwim through <a href=\"https:\/\/trends.google.com\/trends\/?geo=US\" target=\"_blank\" rel=\"noopener noreferrer\">Google Trends<\/a>\u00a0data for hours!\u201d<\/p>\n<p>Rather than waste your time with 12 tactics, here are three anyone can do:<\/p>\n<ol>\n<li>Browse Google Analytics data (if you have a website).<\/li>\n<li>Do some keyword research.<\/li>\n<li>Look at Quora questions.<\/li>\n<\/ol>\n<p><strong>Google<\/strong><strong>\u00a0Analytics (GA)<\/strong>\u00a0can show you what your site visitors are most interested in. If you\u2019ve been blogging, you\u2019ll follow the steps below to look at traffic to your pages. If you\u2019ve been running ads, look at your most successful Google adwords\u00a0keywords.<\/p>\n<p>For traffic, go to your GA page \u2192 Behavior \u2192 Site Content \u2192 Landing Pages. It will show you which posts have gotten the most traffic. Change the date range to look at different time periods.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7885\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0.png\" alt=\"Google Analytics: GA page &gt; Behavior &gt; Site Content &gt; Landing Pages data\" width=\"1600\" height=\"751\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-300x141.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1024x481.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-768x360.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1536x721.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7885\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0.png\" alt=\"Google Analytics: GA page &gt; Behavior &gt; Site Content &gt; Landing Pages data\" width=\"1600\" height=\"751\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-300x141.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1024x481.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-768x360.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-1536x721.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>Use <strong>SEO<\/strong><strong>\u00a0tools<\/strong>\u00a0to explore keyword searches\u00a0and their search volume. Ahrefs is only $7 for a 7-day trial. If you don\u2019t want to pay for a keyword planner, use Google\u2019s search engine\u00a0for search term\u00a0suggestions or use <a href=\"https:\/\/ads.google.com\/home\/tools\/keyword-planner\/\" target=\"_blank\" rel=\"noopener noreferrer\">Google Keyword Planner<\/a>\u00a0(intended to help with ad topics).<\/p>\n<p>If you use Ahrefs, head over to the Keywords Explorer and type in the problem or problem + solution. For example, \u201cayurvedic weight loss\u201d gets 90 searches per month.<\/p>\n<p>You can see questions that people ask about Ayurvedic weight loss\u00a0lower on the page.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7887\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2.png\" alt=\"Ahrefs: ayurvedic weight loss\" width=\"1460\" height=\"927\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2.png 1460w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-300x190.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-1024x650.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-768x488.png 768w\" sizes=\"auto, (max-width: 1460px) 100vw, 1460px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7887\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2.png\" alt=\"Ahrefs: ayurvedic weight loss\" width=\"1460\" height=\"927\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2.png 1460w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-300x190.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-1024x650.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-2-768x488.png 768w\" sizes=\"auto, (max-width: 1460px) 100vw, 1460px\" \/><\/noscript><\/p>\n<p><strong>Search <\/strong><strong>Quora<\/strong>\u00a0to see what questions are most frequently asked in your target niche.<\/p>\n<p>Type your niche topic\u00a0into the Google search bar\u00a0and include <strong>site:<\/strong><strong>quora<\/strong><strong>.com <\/strong>at the end.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7891\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4.png\" alt=\"Google search: ayurvedic weight loss site quora.com\" width=\"866\" height=\"879\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4.png 866w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4-296x300.png 296w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4-768x780.png 768w\" sizes=\"auto, (max-width: 866px) 100vw, 866px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7891\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4.png\" alt=\"Google search: ayurvedic weight loss site quora.com\" width=\"866\" height=\"879\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4.png 866w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4-296x300.png 296w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-4-768x780.png 768w\" sizes=\"auto, (max-width: 866px) 100vw, 866px\" \/><\/noscript><\/p>\n<p>When you\u2019re done researching, you\u2019ll have:<\/p>\n<ul>\n<li>A list of questions people ask about your topic.<\/li>\n<li>The reasons they want a solution.<\/li>\n<li>The parts of the problem they struggle with the most.<\/li>\n<\/ul>\n<p>And that means you can finally decide how <em>you<\/em>\u00a0will solve that problem for them.<\/p>\n<h3 id=\"decide\">Step 3: Decide How You Do and Don\u2019t Solve That Problem<\/h3>\n<p>The solution you provide needs to be the best solution for your specific audience.<\/p>\n<p>To get there, you have to know two things:<\/p>\n<ul>\n<li>What you<strong>\u00a0do.<\/strong><\/li>\n<li>What you <strong>don\u2019t do.<\/strong><\/li>\n<\/ul>\n<p>Let\u2019s use Neha\u2019s business as an example.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7897\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8.png\" alt=\"Do: Allow desserts and other favorite foods; Do not: restrict calories. Do: Offer sustainable food plans; Do not: Offer weight loss supplements and herbs. Do: Incorporate healthy exercise; Do not: Eliminate macro-nutrient groups.\" width=\"1600\" height=\"638\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-300x120.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-1024x408.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-768x306.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-1536x612.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7897\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8.png\" alt=\"Do: Allow desserts and other favorite foods; Do not: restrict calories. Do: Offer sustainable food plans; Do not: Offer weight loss supplements and herbs. Do: Incorporate healthy exercise; Do not: Eliminate macro-nutrient groups.\" width=\"1600\" height=\"638\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8.png 1600w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-300x120.png 300w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-1024x408.png 1024w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-768x306.png 768w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/8-1536x612.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/noscript><\/p>\n<p>Some people will want to try losing weight with pills. Neha\u2019s coaching is not for them. She knows that her best-fit clients are women looking for a permanent solution to their weight issues. Her clients <em>don\u2019t<\/em>\u00a0want to starve and they <em>don\u2019t<\/em>\u00a0want to give up their favorite foods, but they <em>are<\/em>\u00a0willing to change their diet if it means achieving their goals.<\/p>\n<p><strong>Make your own \u201cDo\u201d and \u201cDo Not\u201d table.<\/strong><\/p>\n<p>Fill it with what you would offer and what you would not offer to customers to solve their problem. Use the research in steps one and two to inform which problems you need to tackle and how.<\/p>\n<p>If you can\u2019t think of a solution to the problem, then it\u2019s not the niche for you. Stick with problems you know how to solve (or at least have a workable business idea\u00a0for how to solve them).<\/p>\n<h3 id=\"test\">Step 4: Test Your Niche<\/h3>\n<p>To get to step four, you\u2019ve:<\/p>\n<ul>\n<li>Identified your top two to three audience possibilities<\/li>\n<li>Dug into the problem they\u2019re facing<\/li>\n<li>Decided how you do and don\u2019t solve that problem<\/li>\n<\/ul>\n<p>&#8230; all in excruciating detail.<\/p>\n<p>There\u2019s one last thing you need to do before you\u2019re ready to invest more time in your niche idea: <strong>Test it.<\/strong><\/p>\n<p>If you\u2019ve been following our content, you might think it\u2019s time to validate (i.e., collect money for) your niche. It\u2019s a good thought, but we\u2019re not there yet.<\/p>\n<p>Instead, it\u2019s time to talk to strangers on the internet.<\/p>\n<p>You heard me.<\/p>\n<p>Go back to the best Facebook groups and forums you found during step two. Use this template to post and ask them if they\u2019re interested in your solution:<\/p>\n<blockquote><p>\u201cSo many [ideal client type]&#8217;s have been asking how to [achieve goal]. And so many of them do [#1 mistake], and that&#8217;s just [backwards\/wrong\/inefficient]. So I&#8217;ve been thinking of creating a free [product type] to help [accomplish what?] without [something they hate\/have already discredited\/don&#8217;t want to let go of]. Would that be of any interest to you?\u201d<\/p><\/blockquote>\n<p>Or, you can craft your own statement by riffing on this shorter version:<\/p>\n<blockquote><p>\u201cFinally a way to [achieve goal] without [something they hate\/don&#8217;t want\/have already tried].\u201d<\/p><\/blockquote>\n<p>The responses you get will tell you if you\u2019re on the right track or need to pivot.<\/p>\n<p>For example, we\u2019ve been working with a sleep coach who needed to refine her audience. Her passion was to help working moms, and her experience was in helping busy people get better sleep.<\/p>\n<p>She decided to test the niche <em>Sleep Specialist for Working Moms<\/em>.<\/p>\n<p>Right off the bat, this sounds like a workable, profitable niche market. So she drafted the statement we described above and put it in a handful of Facebook Groups with busy, working moms.<\/p>\n<p>She received zero responses. The audience she expected to have a strong need for sleep coaching showed no interest in her help. It was a good sign\u00a0that she needed to pivot.<\/p>\n<p>After brainstorming, we landed on a new target audience\u00a0for her online business. She repeated the exercise with the new target audience. Her problem (sleep issues) and her solution for them were the same, but the audience was new.<\/p>\n<p>Seven days after posting, she still saw comments and messages roll in. We knew then that she had a good hypothesis.<\/p>\n<p>This niche testing method works for anyone, even folks without an audience. But if you do have an audience, there\u2019s no reason you can\u2019t tinker with your content. Post some information related to your potential niche to see how they respond.<\/p>\n<p>For example, Neha did this on Instagram to determine if her followers were interested in the Ayurvedic method.<\/p>\n<p>Here\u2019s what her engagement numbers were before and after she made a few posts about the Ayurvedic diet:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7893\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5.png\" alt=\"Instagram post insights before and after. Finding a profitable niche doesn't mean you have to change all your messaging right away: Instead, test it with your audience first.\" width=\"1065\" height=\"1125\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5.png 1065w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-284x300.png 284w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-969x1024.png 969w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-768x811.png 768w\" sizes=\"auto, (max-width: 1065px) 100vw, 1065px\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-7893\" src=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5.png\" alt=\"Instagram post insights before and after. Finding a profitable niche doesn't mean you have to change all your messaging right away: Instead, test it with your audience first.\" width=\"1065\" height=\"1125\" srcset=\"https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5.png 1065w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-284x300.png 284w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-969x1024.png 969w, https:\/\/blog.growthtools.com\/wp-content\/uploads\/2020\/08\/pasted-image-0-5-768x811.png 768w\" sizes=\"auto, (max-width: 1065px) 100vw, 1065px\" \/><\/noscript><\/p>\n<p>&nbsp;<\/p>\n<p>She tested a new approach and saw a clear <em>increase<\/em>\u00a0in engagement, even though the topic was more specific than before!<\/p>\n<p>You can do the same thing regardless of what platform you\u2019re using. Stick to whatever social media\u00a0channel you already have a following on. That could mean:<\/p>\n<ul>\n<li>Posting a short video or series of videos on your YouTube channel.<\/li>\n<li>Testing some new podcast or blog topics.<\/li>\n<li>Asking your LinkedIn\u00a0followers for feedback.<\/li>\n<\/ul>\n<p>Once you complete this step, you\u2019ll have a clear idea of whether your new niche is good for your business.<\/p>\n<h2>Got Your Niche? Run a Presale<\/h2>\n<p>After all those steps, you should just build your product and launch &#8230; right?<\/p>\n<p>No!<\/p>\n<p>Don\u2019t do all the work of building your product without incontrovertible evidence that it will sell.<\/p>\n<p>For that, we recommend running a presale with your existing audience. It\u2019s best to use email if you can. <a href=\"https:\/\/blog.growthtools.com\/blog\/how-to-build-an-email-list\/\" target=\"_blank\" rel=\"noopener noreferrer\">Get your list to 100 or 1,000 subscribers<\/a>\u00a0(whichever number is next for you), then offer them a discounted price and early access to the product you\u2019re building.<\/p>\n<p>We coach clients through this process all the time at Growth University. <a href=\"https:\/\/blog.growthtools.com\/blog\/make-money-blogging\/\" target=\"_blank\" rel=\"noopener noreferrer\">And we\u2019ve used the process ourselves<\/a>.<\/p>\n<p>For example, our client <a href=\"https:\/\/jacobmcmillen.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Jacob McMillen<\/a>\u00a0made $11,000 pre-selling his course on how to become a freelance copywriter. And <a href=\"https:\/\/www.hibabalfaqih.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Hiba Balfaqih<\/a>\u00a0recently made $675 from five pre-sales of her self-love mastery bundle.<\/p>\n<p><strong>It\u2019s a win-win:<\/strong>\u00a0You prove your niche selection\u00a0is correct beyond any doubt, <em>and<\/em>\u00a0you get funds to help you devote the time and resources into doing it right.<\/p>\n<p><i data-stringify-type=\"italic\">Neha is one of our business coaching program clients. In the program, our certified coaches will give you step-by-step in<\/i><em>structions so you can focus on doing the most impactful thing for your business. Want us to audit your business strategy and help you skyrocket revenue in the next 90 days?\u00a0<a class=\"c-link\" href=\"https:\/\/lp.growthtools.com\/skyrocket?utm_source=gc&amp;source=profitableniche-blogpost\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/lp.growthtools.com\/growth-university?utm_source=gc&amp;source=profitableniche-blogpost\" data-sk=\"tooltip_parent\">Book a complimentary strategy session with us today<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s the #1 thing you can do to charge more, build authority, and get better customers for your business? It\u2019s&#8230;<\/p>\n","protected":false},"author":702,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-7902","post","type-post","status-publish","format-standard","hentry","category-marketing-coaching"],"_links":{"self":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/7902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/users\/702"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7902"}],"version-history":[{"count":0,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/7902\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}