[training] The Riches are in the Niches

Fun Fact: 

Did you know that in 1994 when Amazon started out they only sold books?

The point here is that when you’re starting out, it’s always best to start your business in a sub-niche, or micro-niche it’s also called.

As you get more experience in business and you’ve grown your reach and revenue in your sub-niche, then you can start expanding to a larger niche or change sub-niches.

Take me for example.  I’m a business coach for educators--teachers, principals, para-pros, basically, anyone in the education field who wants to do more, learn more, be more, they want to find a way to transition out of education and into the world of entrepreneurship. 

I could be a business coach for anyone, but my story--being an educator turned entrepreneur, resonates most with educators, as I’m a former teacher.  Therefore, since the business coaching and online business course space is very crowded, I decided to reach my potential customers best, I should niche down to be a business coach just for educators.

However, in a few years’ time, I could expand to being a business coach for helping professions.  You see, there are many reasons why it’s advantageous to do this.  In this training video I did for my Educator 2 Entrepreneur students in a group coaching session, I cover the following:

  • The 8 mega-markets that are the most profitable to be in.
  • Choose one of the 8 mega-markets that your business will be in.
  • For existing business owners, clarifying what mega-market you’re in.
  • Seeing signs of competition isn’t a bad thing, and why.
  • Using 4 examples and showing how to narrow down businesses’.
  • Practice how you can sub-niche down your interest.

To get more clarity on how you want to make a difference in the world, watch the vlog above and get your worksheet to follow along and do the work!

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