Know your niche

You want to focus on The 1 Thing

The 1 thing means focus on one niche. Once you have built a reasonable or big sized business of one niche, then you can expand. You have heard the saying from Confucious who said “he (or she) that chases 2 rabbits catches none.”

‎”I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.” Bruce Lee

To become an expert at something you have to practice everyday and repeat that action over and over again.

Bruce Lee’s quote matches the much used concept that,

10,000 hours of practice make you an expert.

The 1 Thing formula

You also want to be known for 1 thing when you are establishing your brand. The more you diversify what you do, the more your focus is split which means the less energy you have to put into each thing = Less results.

The 1 Thing Success Formula

1 Focus x Time (hours) x Energy (the amount of action & speed of action) = Results

Example: Focus on 1 business x 8 hours/day x 100 phone calls back to back= Results

The 2 thing Reduced time Results Formula

Example: Focus on 2 or more businesses x 8 hours/day x 50 phone calls per business

= Reduced Results.

KNOW YOUR NICHE

Your niche is also known as your ideal client. You hear a lot of talk around ‘know your niche, know your niche.’ So what is a Niche?

A Niche is just a group of people who cluster together with similar attributes. These people can be clustered in any way, shape or form.

A Niche is not something general. For example: 30-50 years olds that are stuck or unhappy and have past baggage and limiting beliefs. That is TOO general. Most people are stuck and unhappy, even in that age bracket. It’s too general. Read closely about how to come up with a specific niche below…

Choosing a niche means choosing a group of people that have 3 core things that are similar. We want them to have a….

Similar Demographic– For example: The type of work they do, age/age range, gender, interests, relationship/marital status, etc.

Similar current situation– they have similar problem(s) that they want to solve and have a similar current unwanted daily experience.

Similar dream situation– They have a similar desired situation they want to get to.

As part of this you also have to ask yourself how painful is this problem for them on a scale of 0-10, and how much desire do they have for the solution on a scale of 0-10.

The Niche Formula

1. Choose A similar demographic- For example: The type of work they do, age range, gender, interests, relationship/marital status, etc.

2. Their current situation is similar- similar problem that they want to solve.

3. Their dream situation is similar- They have a desired situation they want to get to.

4. How painful is this problem for them on a scale of 0-10? 0 being the lowest pain and 10 the highest pain.

5. How much desire do they have for the solution on a scale of 0-10. 0 being the lowest desire and 10 being the highest desire.

Note: if you can exceed the niche’s expectations of their dream situation then you will create an offer that will go viral.

Examples of Niches

Niche 1- Accountants that have a small 1 -5 Accounting firm

Accountants that have a small 1 -5 Accounting firm
They are struggling to get clients
They desire to get more clients and make more money than if they worked for someone else.
The pain level for most would be 5-10.
The desire level for most would be 5-10.

Niche 2- Dentists

Dental practise of 1-10 people
They are struggling with sales and closing people
They want to close the prospects that enquire and upsell people to make $40k/month
The pain level for most would be 6-10.
The desire level for most would be 6-10.

Niche 3- Mothers who feel they have lost themselves looking after everyone else but themselves

Mothers 30-50.
Mothers 30-50 who feel they have lost themselves looking after everyone else but themselves and are unhappy.
They want to find who they truly are again, love themselves, and find a career or business that they are passionate about and makes them happy.
The pain level could be 2-10.
The desire could be 2-10.

Choosing Your Niche

You can always answer these 5 questions above on who your niche is at any stage. However to find your Niche we need to know who is the ideal client that you want to work with? We can use these two questions below to help us with this.

Ask yourself:

“Who is my Ideal Client?”

“Who does my Ideal Client need to be in order to get the results I want in my business?”

Note: The answer to number 2 gives you the answer to number 1!

You want to know who this ideal client is inside and out and be able to understand their reality better than they do themselves. We have to get this right because if you spend money on paid advertising on the wrong ideal client then you are going to waste a lot of time and money.

So, think carefully about who you would love to serve because they have to be right for your products and services and you have to LOVE investing your time with this target audience, because you will be spending a lot of time with them.

The criteria for choosing your Niche is:

✅ You would love to spend time with this type of person (you are going to invest a lot of your time with them so you have to enjoy it).

✅ Either they have the problem that you solved in your own life OR at least you know you have the skills to solve it! Consider your own journey and what you have overcome to get to where you are now.

✅ You must be passionate about solving it.

✅ Look at what you are currently selling- why people are buying, see who is buying , see where they are buying from, construct the fibres of that into a fabric that tells you what your niche is.

✅ They have the resources/money to buy your products/services and go all the way along the value ladder you create. Ideally you would want this type of person to have the ability to buy everything you sell. You want to maximise what is called the lifetime value of a customer.

✅ The market (number of people) in that niche is big enough to achieve your financial goals. E.g. If you are looking for darts players that live in a small town between the age of 18-20, that would be a very small market that may not have enough people to achieve the financial goals that you have, as it is a small number of people who you could market to.

The Niche Formula

To determine your niche we need you to answer this about your ideal client…

1.What is their demographic– If applicable this includes the type of work they do and/or age range and/or gender and/or their interests and/or their relationship/marital status, etc.

2. What are their top 3 core problems/pains/frustrations/challenges

3. What are the top 3 solutions you provide to solve their top 3 core problems.

4. What is their current situation

5. What is their ideal/dream situation.

Niche Examples

Example 1

1. Niche demographic: Smokers, Male and Female

2. Problems

Problem 1: Beat themselves up for smoking when they have a family

Problem 2: Feel guilt about the money they are spending and /or the impact on their health.

Problem 3: Don’t want to waste the money it is costing them.

3. Solutions

Solution 1: stop them beating themselves up by quitting

Solution 2: No more guilt about the money being spent or the health impacts because the habit will be gone.

Solution 3: Get them to quit for life which will save them 10’s of $1000’s and even 100’s of $1000’s of dollars.

4. Current situation: Smoking 20-40 cigarettes a day, feeling embarrassed to smoke in front of friends and family, feeling shame around doing it so they sometimes hide when they smoke. They beat themselves up at times for knowing they should quit yet still smoking. Spending up to $100’s of dollars per week on smokes and they know it’s wasting their money. They have times where they feel ill and cough and know it’s from their smoking and should stop. They work in a labour job or as an employee at any workplace at all.

5. Dream situation: Quit smoking for life and feel no cravings whatsoever. Feel powerful knowing they are in charge of their choices and they are in charge of their health. Feel proud of themselves and see that their family and others are proud of them. They save $100’s of dollars per week to spend on things they love doing and other things they live buying. Their health improves and it leads to feeling healthier and even more attractive to people because their skin gets clearer and they look healthier.

Example 2

1. Niche demographic: Women 20-40

2. Problems

Problem 1: hate their body and themselves because of their body

Problem 2: don’t have confidence

Problem 3: low self worth so don’t allow themselves to feel good or be treated the way they want in relationships.

3. Solutions

Solution 1: love themselves no matter what their body looks like

Solution 2: give them unstoppable confidence in themselves.

Solution 3: teach them to value themselves, feel joy and happiness within for who they are.

4. Current situation: she wakes up in the morning and looks at herself in the mirror and tells herself she is fat and ungly and doesn’t deserve love or the relationship she desires, she goes out and tells herself she is too big and doesnt enjoy being seen by others. She thinks people think she’s fat and is constantly trying to hide from being seen and avoids situations she cannot control. She beats herself up for not having a different body and sees images of girls on instagram and asks herself why she doesn’t look like that? She filters every photo she puts up to only show the best parts of herself to feel better about herself and feels anxious and worried in her daily life about what others think and how she doesn’t look like ‘the pretty girls’. She compares herself to other girls constantly and feels depressed when she sees other ‘thin’ girls and wonders why she doesn’t look like that. She allows herself to be badly treated by her friends and even men. She allows herself to be used by others. She is constantly comparing her looks and body to other women and beats herself up in front of the mirror. She feels trapped.

5. Dream situation: to look in the mirror and love herself for who she is. She wants to look at photos and love what she sees. She wants to feel joy and happiness within again no matter what her body looks like and she wants to express herself fully in a free way and enjoy herself. She yearns to be more wild, spontaneous and fun with people and express all of herself and allow herself to be seen. She wants to love the body she’s in and stop comparing herself to other women and feel good about herself whenever she sees other girls on social media. She wants to feel attractive to men and feel sexy and feel unstoppable confidence in herself, she wants the self worth to say no to things that she know does not serve her such as certain men and relationships and wants to love seeing herself and feel in love with life again experiencing limitless joy and happiness in herself.

Example 3

1. Niche demographic: Married Men that have a successful business but are struggling in their relationship at home. Age: 40-60.

2. Problems

Problem 1: Anxious about their marriage. They feel weak and are fearful of what their partner will say or do to them. They feel they can’t win and no matter what they do, nothing works.

Problem 2: They are Tired of the criticism and lash out in anger at their kids and wife and then later feel guilty about it. This damages their relationship with their wife and kids.

Problem 3: They feel their voice doesn’t matter so they shut down and feel disconnected from their wife and kids.

3. Solutions

Solution 1: Reconnect to their core identity as a man, claim back their masculinity and the power to be directional and make decisions in alignment with who they truly are.

Solution 2: learn how to be in charge of their emotions no matter what.

Solution 3: give them the tools to communicate with others and rebuild their relationship with their wife and kids.

Current situation: They feel anxious about their marriage, they are fearful of their wife telling them what to do and what she will say as he does not know how to deal with it. He is criticised by his wife and feels like no matter what he does it isnt enough and he can’t measure up to be the man she wants him to be. The criticism builds up and so his anger boils over and he lashes out at his kids and wife. It damages his relationship with them and he feels guilty about it afterwards. He is afraid to make decisions, to look at the finances , he is afraid to be directional in anything with them as he is fearful of letting them down and doing the ‘wrong thing’. He doubts his own ability to make stuff happen and avoids any conflict to ‘keep the peace’ however this never works as problems just get bigger. He often drinks or gambles or takes some form of escape to avoid dealing with problems with his partner and kids. He lacks the confidence in himself to speak up and doesn’t have the skills to deal with conflict and he wonders if he would be better off somewhere else.

5. Dream situation: Gain the confidence and certainty within himself to make decisions and speak up about how he really feels to his wife. He values himself and knows he is worthy of the love and respect he deserves. He is directional and decisive and sees problems and handles them as they come up. His wife stops criticizing him and respects him, honors him and is open to him so he can feel his strength and value. His kids are open to him and he has a deep loving connection with them and his wife. He is in charge of his emotions and is ‘the still warrior’ no matter what storm hits. He totally owns himself and feels total confidence and love for himself and trusts himself in any situation. He ignites the passion back with his partner and experiences the intimacy he craves.

Example 4

1. Niche demographic: Coaches, consultants & healers

2. Problems

Problem 1: not knowing who their true niche is and marketing themselves correctly

Problem 2: not getting enough leads and making enough sales

Problem 3: Their psychology stops them from taking consistent massive action

3. Solutions

Solution 1: help them uncover their true niche with enough clarity so they can market themselves correctly

Solution 2: help them get loads of leads, convert those leads and make them sales masters.

Solution 3: Give them absolute certainty and an unstoppable psychology that is fully aligned to achieving their goals.

Current situation: they wake up wondering what they should do next to try and get a client yet they have no idea. They have no idea who their niche is and they post random things on facebook hoping people will buy. They have no confidence in selling anyone and dont think their offer is good enough. They avoid making sales calls and deep down doubt themselves and if they can help people. They have no idea how to get leads and so they start doing podcasts with people , sharing other people’s posts or writing some things on facebook but none of it works in getting clients. They don’t like selling or asking for money and not enough people know who they are. They have no systems in their business at all and struggle to make money in their business.

Dream situation: they have absolute clarity on their niche and message. their social media positions them as an authority in the market and their brand looks world class. They have absolute certainty on their offer and that offer is extraordinary. They also have absolute certainty that their offer is incredible and people need it. They have the strategies to generate loads of leads and they have the psychology to sell people and charge what they are really worth. They have the skills to close people into their offers and can now start making the money they really want. they have systems to scale their business and have an unstoppable psychology that is fully aligned to create massive success.

EXAMPLE 5

1. Niche demographic: 25-50, Single Males, in Corporate or Building/Labour/Construction work.

2. Problems

Problem 1: Feeling very unfulfilled in their work life and personal life.

Problem 2: Don’t feel confident in the way they look and lack confidence in social situations.

Problem 3: Struggle to communicate with women and don’t know what to say and how to form a deep connection with them.

3. Solutions

Solution 1: Find fulfillment and passion in their work life and personal life. Feel excited about life again!

Solution 2: Take charge of their body and health. feel confident in themselves and in social situations.

Solution 3: Learn how to communicate with women and form a deep connection with them.

Current situation: They wake up not wanting to get out of bed and go to work. They have lost their excitement about their job and they don’t feel fulfilled in it. They start their day by drinking coffee and wishing they didn’t have to go to work. They feel down about the women who keep rejecting them and have no confidence to communicate or approach the women they really want to speak to. They look at themselves in the mirror and don’t like what they see and feel embarrassed to take their shirt off. They go through work wishing they were on a beach somewhere or some place else with their dream woman. They have no motivation to exercise and get home each day to sit and watch tv. They scroll through their instagram looking at the women they wish they had and feel down about it. They end their night with a couple of beers and stumble into bed to do it all over again.

Dream situation: They Wake up and feel excited about the work they are doing. They have found what they are truly passionate about and started taking actions towards creating that. They love what they see in the mirror and feel the confidence to be social with anyone they want and go talk to the women they want. They know how to communicate with women, they know how to influence them and they know how to connect with them in a way that gives them the intimacy and love they want. They own themselves, are in the best shape of their life and enjoy themselves no matter if they are single or in a relationship.

Exercise – Find Your Niche/Ideal Client Questions:

Considering the Niche criteria, What is the demographic of your niche? This means do they have…

A specific type of work they do and/or

An age range and/or

Specific gender and/or

Specific interests and/or

Specific relationship/marital status?

Please answer below.

What are their top 3 core problems/pains/frustrations/challenges (Label each as problem 1, problem 2, problem 3) Note: 1 Sentence only per problem.

What are the top 3 solutions you provide to solve their 3 core problems. (Label each as solution 1, solution 2, solution 3) Note: 1 Sentence only per solution.

What is their current situation?

What is their ideal/dream situation?