Entrepreneurship is a career choice overflowing with opportunity & excitement, and we like to think of the creative liberty it offers as just part of its beauty -- but hey, maybe we’re biased! Having the ability to be fully in control of your career and day-to-day work is something that a lot of us have fallen in love with. I mean, how could you not? There’s something about the way “being your own boss” sounds that just hits the spot.
Sadly, there’s a bit of a catch though: the extra freedom brings with it extra responsibility, and this can be very intimidating at times -- especially when first starting your entrepreneurial journey. Sure, having a boss can be an annoyance at times, but without one, it can become easy to feel directionless. This is why it’s so important to identify your niche early on in your career as an entrepreneur.
But, what is a niche exactly? Simply put, a niche is a particular sub-category within your chosen market that seeks to appeal to a very specific demographic. For example, the market could be fashion, while the niche “young adult men’s fitness wear.” Identifying your niche as soon as possible is vital in helping to avoid the aimless strategy many entrepreneurs start their careers off with. At the end of the day, if you don’t know your target demographic, how can you ever appeal to one? You’re likely not to -- buuut, if you know the exact demographic your brand is built to help, on the other hand, your biz will take off in no time. And the good news? The process of finding your niche is simple, fun & free of risk for you and your brand alike!
01. Identify Passions & Interests: This is my favourite part, and it’s pretty self explanatory! As a strategy for picking the passions & interests that will really stick, we recommend starting off with a list of any and all that you can think of. Next, try to pick out the ones that you can still see yourself appreciating about 2-4 years down the line; these will most likely be the ones you love to talk about and share with others, and may have already had an interest in for years prior! Remember, your niche is something we want to last long-term.
02. Ask Yourself, “What Problem Can I Solve?”: Now that you’ve chosen a couple of your favourite topics, it’s time to put them to the test! Reflect on what you’ve come up with by asking yourself, “What problem can I solve that relates to this topic?” It’s important to make sure that whatever your niche relates to, it’s both something that you’re passionate about AND can use to give others value! If you’re able to find something that meets both criteria, great! Then you’re all set. If not, it may help to refer back to your initial list of passions & interests and consider another option.
03. Determine If There is a Market: As much as we all wish practicality didn’t play a role in entrepreneurship, it plays a major one in identifying your niche. Before applying your niche to your brand, do some browsing to determine whether it’s a viable means of growing your platform. You can do this by searching keywords and phrases related to your topic, and taking note of how popular and successful the niche is on different social platforms. This may seem unnecessary after steps one and two, but trust us, it’s not; even if you’re able to see the unique value of your chosen niche in the current market, others may not yet -- not everyone has great taste ;)
04. Do Your Research On The Market: You know better than anyone the places you’ll best thrive as an entrepreneur, we know that -- but it’s never a bad thing to double check while your options are still fully open! To really make sure this niche is right for you, study those that have already taken it up! By that we mean, examine their content, audience(s), products/services...etc and picture yourself in their shoes -- can you see yourself enjoying, hopefully even loving what you do being in that position?! Do you think it’s a good fit for you and your lifestyle?
05. Go For a Test Drive: Now that your niche has passed all the theoretical tests, it’s time to put it into practice! Start incorporating it into your social media and branding and observe its effects on yourself, your biz AND your audience engagement. After about 3 months -- or whenever you see fit! -- reflect on your results and take note of any tweaking you might need. For example, shifting slightly in another direction or adding more specificity to your niche!
And in just five easy steps, you’ve got yourself a niche you and your clients can benefit from! Being taken seriously as a brand/biz can be an uphill battle for a lot of us entrepreneurs, but a solid niche will get you ten steps ahead in no time! We want to learn about your creative spin on entrepreneurship and hear all about YOUR unique niche! To share yours with us and fill us in on your own creative process, scroll to find us on all our socials (@themintstudio) and reach out. We would love to hear from you!
Thanks for joining us this week, friend. Until next time, best wishes!