WW 176: 5 Sneaky Benefits of Getting Mega Specific With Your Niche - Solo Show

You’ve heard me talk before about the importance of finding your niche, but in this episode, I’m sharing some sneaky benefits of getting super specific within that niche. Deciding who you serve and the problem you solve for them literally changes your business, and the more specific you can get, the more advantages you have! I’m sharing the three different ways you can get specific within your niche, and five (of the many) benefits of doing so. Loving this episode? Take a screenshot and share it on Instagram! Tag me so I can send you some love (@Tess_Wicks)

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Resources FROM THIS EPISODE

Recommended Listen: Episode 168: Why You Must Pick a Niche & Why It Feels So HARD
Apply for the waitlist to be one of the first to get more information about the Wealthy Coach Blueprint program when it rolls out in August.
Tag me on Instagram @tess_wicks to show yourself working through the pricing workbook. DM me your questions, thoughts, and feedback and I’ll send you a voice message with answers and so much love!

OTHER GREAT Resources

Feel frustrated with pricing your services? Grab the Online Coach’s Pricing Workbook to help you start charging the right price!
Want to work with me in my most exclusive coaching package, yet? Email me!

A Quick Recap from this episode

I’ve talked before on the podcast about why it’s important (and sometimes difficult) to find your niche, but I also wanted to tell you some benefits of getting specific in your niche market that you may not have thought of.

Let’s start by defining a niche market. A niche market is who you specifically help, and what specific problem you help them solve.

Niching is interesting because you can develop a niche specifically around a “who" meaning you pick specific characteristics and qualities of a person that needs help with the problem that you solve. An example might be “I help 20 to 30 year old women living in the city aspiring to make it big on Broadway manage their finances with ease.”

That example is a super specific in the “who” but pretty general in the “what.” Alternatively, you can choose to be super specific around the actual problem that you solve and be a little more general with the “who.” This is perfect for people who are subject matter experts. If you’re a divorce attorney, you may know a lot about the financial ramifications of divorce, so you can be a money coach specifically to couples getting divorced.

You could also choose to be specific in the “who” and the “what.” Using the previous example of women making it on Broadway, maybe you help that specific niche (“who”) with their divorce (“what”). That would be specific in both areas.

I wanted to give you the lay of the land in terms of niching before we dive into the benefits, so that you can decide which niching option will give you the most advantages.

So what are the 5 sneaky benefits of getting niche specific?

1. You’ll be at the advantage of putting yourself in the right place at the right time. Because you’re being so specific with your clients, you'll know exactly where they hang out, so then you can be in that place.

2. You will be able to create "mind-reading" content by using your specific ideal client's words on how they describe their problems, fears, and goals.

3. You will be able to validate, in record time, that you're creating something your ideal clients actually want - by asking them. Narrowing who you serve means you can narrow in what you provide and know it's exactly what will help them and what they will want. People are willing to pay more and are way more likely to buy when they know that you’re solving their very specific problem.

4. This is a roll off of #3, because it’s about finding that sweet-spot pricing. Pricing is a pretty "relative" exercise. Different people will value your service differently. By finding that one niche and identifying where they value working on their money, it’s going to be easier for you to find a price point that provides profit for you and feels like a fair exchange of value to them.

5. You will eradicate imposter syndrome and be able to stay in integrity with being an expert for this one specific niche helping to solve this one specific problem.

This isn’t a comprehensive list because there are tons of benefits to getting specific with your niche, but these are just a few that you may not have thought of right away. Hopefully now you’re convinced that getting mega specific on who you serve and what you solve for them is the best thing you can do to build a profitable coaching business.