3 secrets why your niche isn’t working anymore

If you are an online business owner there are 99% chances your major growth problem is the market problem. Let me explain to you that line. The way things work online is there are top three money-making markets: health, wealth and relationships. Everything we sell is somehow connected to these markets.

There was a time when people used to sell only in 3 major markets. Only one person taught health and people paid for his or her advice. Then someone thought “I can also teach health tips”. So he jumped into that market. Then more people jumped into the same market and in no time this market became from the blue ocean to a red ocean. If you read “Blue Ocean Strategy” by Renée Mauborgne and W. Chan Kim, then probably you know the difference between the red ocean & blue ocean. Red ocean, in short, is a highly competitive bloody market and blue ocean is a creative or less competitive market.

Few smart marketers said, “I’m gonna build my own blue ocean.” So they started teaching topics like diet, nutrition, weight loss, etc. Similarly, the wealth market broke down to finance, investing, real estate & relationship market into love, dating advice, parenting, etc. Then all the people started thinking these new blue oceans are amazing. But the same pattern repeated. One guy said, “I also know about real estate.” Eventually, the number increased from 1 to 2, 10, 100, 1000’s and water became suddenly bloody.

Today’s market is entirely different. I am now going to share with you the ground reality of why your niche is no longer making you rich with 3 simple secrets:

Secret 1# You pick a market where the crowd is

• This is where people get the wrong foot right in the beginning. Instead of choosing the market, they resonate with, they pick one that has more buzz around. The secret is in figuring out what market we have interest in.
• Start with picking any one of the top 3 markets — health, wealth and relationships you have knowledge about and your ideal customers will find you in time.

Secret 2# Narrowing down your niche is tricky for you

• Once you are clear with your market, you need to create your own niche or micro-niche (in some cases.) Remember I didn’t say pick a niche. If you pick one, by definition of the red and blue ocean, you jumped into a red ocean. Picking a niche will make it very difficult to make you successful.
• You have to pick a market and create your own blue ocean in it. You can do that by identifying an unsolved market problem and creating a unique solution using your expertise. When you create a new opportunities for yourself, competition disappears. The process becomes easy and you impact more lives in a short period of time.

Secret 3# Your Brand identity isn’t unique

• This one is my favorite. Imagine you visited a relationship coach to take advice on improving relationships with your wife and she tells you she can also give you mindfulness advice. Would you take her service? Chances are you would prefer a mindfulness NLP specialist over just a relationship coach. We, humans, are by default designed to choose specialists over generalists.
• Create your personal brand around your unique positioning with the catchy designation. As one of my mentors said, “A doubtful mind always says no and has options” and mark my words if you are just another coach, consultants or service provider, your customer always have doubts and option to go away from you to a specialist.

All those concepts I teach inside my community “Sales Wizard Hub.” A place of educators and entrepreneurs to help them carve their niche and grow their business using simple concepts of sales funnels. It helps them to find their unique positioning, create irresistible offers and sell without any negotiation to impact millions.

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Originally published at https://www.facebook.com.