1504: Focus on a Passion to Find Your Niche by Kate Erickson of Entrepreneur on Fire on Starting A Business

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[00:00:53] This is Optimal Work Daily. Focus on a Passion to Find Your Niche by Kate Erickson of eofire.com

[00:01:02] Find your niche. Now, how many times have you heard the word niche in the past couple of years?

[00:01:08] Yeah, a lot. Here are a few things that went through my mind when I first started hearing the buzz about finding your niche market and niching down and all that good stuff.

[00:01:18] What is a niche? How do I find mine? Can I just buy one?

[00:01:22] After some considerable research, a little bit of testing, and forcing myself to answer the three questions I just mentioned, I realized something.

[00:01:30] Finding your niche is mandatory if you're looking to start and grow a successful business.

[00:01:36] Define a niche.

[00:01:37] Niche.

[00:01:37] Wiki says a niche market is, quote, the subset of the market on which a specific product is focusing.

[00:01:44] So the market niche defines the specific product features aimed at satisfying specific market needs.

[00:01:50] End quote.

[00:01:51] Pretty solid definition.

[00:01:53] Find your niche.

[00:01:55] Before I started working for Entrepreneur on Fire, I tried to start my own freelance writing business.

[00:02:00] I had no clue what I was doing in terms of starting a business.

[00:02:04] I just knew that I loved to write.

[00:02:06] I figured that since there are a lot of businesses and people out there who are looking for writers to help them with website copy, marketing collateral, and so on,

[00:02:14] it would be really easy to find clients if I could get my own website up and running.

[00:02:20] Disclaimer.

[00:02:20] There was a lot wrong with the way I started my business, but the biggest failure I had was not identifying my niche market,

[00:02:27] which is what I'm going to focus on right now.

[00:02:30] I put up a website that told people, aka anyone and everyone, I could write their website copy,

[00:02:36] create marketing collateral, craft articles and blog posts, be on social media for them.

[00:02:41] I even offered up a service that would edit already written copy if they wanted to simply make it better.

[00:02:46] I loved doing all of these things, and so I wasn't sure how to decide which one I should focus on.

[00:02:52] Plus, I didn't want to offer one and have someone come to my website looking for the other,

[00:02:57] so I thought if I put them all up, then I'd be covering all the bases.

[00:03:01] Stop trying to serve everyone.

[00:03:04] Do you see the problem here?

[00:03:06] I was offering a portfolio of services that was way too big,

[00:03:09] and in trying to sell to anyone and everyone out there, I was selling to no one.

[00:03:14] My offerings were way too generic,

[00:03:16] and I lacked a certain focus that was sure to turn anyone away from my site in a heartbeat.

[00:03:21] So one day I cleared out my website copy,

[00:03:24] and instead of offering everything I just listed,

[00:03:26] I told people that I specialized in just one thing.

[00:03:29] I would edit and format their e-book so that it would be ready for the Kindle Direct publishing platform.

[00:03:35] Focus on a passion to find your niche.

[00:03:38] Why e-book editing?

[00:03:40] About this time, I had really started focusing on a passion of mine,

[00:03:43] helping small businesses and entrepreneurs find out how to provide value to their audience

[00:03:48] and establish themselves as an authority in their industry.

[00:03:51] I knew that if I could sell small businesses and entrepreneurs on the idea that an e-book

[00:03:56] could do these two things for them, provide value to their audience,

[00:03:59] and establish themselves as an authority in their industry,

[00:04:02] then the rest would follow.

[00:04:04] All my services included was editing an already written piece for grammar,

[00:04:09] sentence structure, and consistency, and then formatting it for Kindle.

[00:04:12] That's it.

[00:04:13] I went from making $0 an hour to over $75 an hour within one week of finding my niche market,

[00:04:19] and then niching down again.

[00:04:21] Some people know exactly what their niche is.

[00:04:24] For others, it's a little bit more work to discover exactly what space you're trying to fill,

[00:04:28] what value you're providing, with your product or service, and who your target audience is.

[00:04:34] Talking to everyone means you're talking to no one.

[00:04:38] Why did I fail when I first tried starting that freelance writing business?

[00:04:42] Because I didn't want to miss out on clients.

[00:04:45] I thought that if I was offering one thing,

[00:04:48] then I would be missing out on the millions of people who didn't need it.

[00:04:51] What I should have been focusing on were the millions of people who did need it.

[00:04:54] Once I started talking to them about how an e-book could help them in their business,

[00:04:59] and how I could help them get that e-book published on the Kindle Direct platform,

[00:05:03] I started getting clients.

[00:05:05] Finding your niche is an important step in building and growing a successful business.

[00:05:10] When you try to sell to everyone, you run the risk of selling to no one.

[00:05:14] The more you niche, the easier it is to provide value to a specific audience.

[00:05:23] You just listened to the post titled,

[00:05:25] Focus on a Passion to Find Your Niche, by Kate Erickson of eofire.com.

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[00:07:02] And thank you so much to Kate for letting us share this article today.

[00:07:06] She's been part of the EO Fire, or Entrepreneurs on Fire, team since 2013 as the content creator,

[00:07:13] but has taken on a bunch of different roles since then.

[00:07:15] In early 2013, she left her corporate job at an advertising and marketing agency

[00:07:20] to finally start creating the life she wanted to live,

[00:07:23] where someone else wasn't dictating her every move.

[00:07:25] And now she loves helping entrepreneurs create freedom in their business and their lives

[00:07:31] through developing systems and processes that can help their business scale and grow.

[00:07:35] Come by EOFire.com to learn more about Kate.

[00:07:39] You can also see a lot more articles, income reports, podcast episodes, and more.

[00:07:44] Again, that's EOFire.com.

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[00:08:12] But I'll leave it at that for today.

[00:08:13] Hope you're having a great one.

[00:08:14] And I'll see you back here tomorrow where your optimal life awaits.