This is going to sound strange from a person who has dedicated his past 10-years to helping people produce their own signature products (ebooks, books, training programs and courses, membership sites, etc…), but I think you’ll see the relationship by the time you finish reading this post.
Your Business Is Not A Single Product, Website, Blog Or Opportunity
It’s critically important that you understand this statement.
I get asked daily about what niche market to pick, what type of business to start, what my client’s first product should be or what website they should setup.
As soon as I get this question I know that the entrepreneur I am speaking with is missing the most important part of starting and growing a business…
You’re Business IS A Framework From Which You Understand, Reach, Engage And Then Fulfill (In Return For Money) The Desire To Purchase Products And Solutions That Improve The Life Of Your Prospects
A Journey Of Transforming The Lives Of Your Customer
Think of it this way…you are about to embark on a journey that will take you on a 5+ year ride of your life.
Rather than coming from a place of what you are and have to offer today, know that you are only at the starting point, that you have this amazing, while challenging task of selecting a niche market that you will take with you on a journey that will see you engage with them, understand their wants, needs and desires and fulfill them through a series of products and services over a period of the next few years.
It doesn’t matter what business you are in, this holds true.
You could be selling sales training, software technology, yoga wear, ebooks and information products…the principles still hold true that you will identify desires for transformation and transition in the lives of your target audiences and provide them the best products and services that will help them get where they so desperately want to be.
When you start a business you set out on a path to serve your marketplace, to continually expand your understanding, relationship and offerings to them as you both go forward together.
How To Identify Your Market And Business
If you are starting out and still need to identify your ideal niche target market, business idea and first products and branding, then try these simple steps…
1. Nail the 1 or 2 high-level areas you feel strongest about and are willing to commit to working over the next 3-5 years. For example, you can choose from Health/Fitness/Well Being, Personal Development, Finance, Business, Relationships, Hobby (Music, Art, Photography, etc…), etc… while you will need to go deeper, having a high-level idea of what overall market areas interest you enough to live within them for the next 3-5 years is a critical first step.
2. Dig into the top 1 or 2 (Let’s say for the moment they are Fitness and PD). You must go much deeper and discover pockets of desire – desire for what? Desire to be, have, do or become something they are not – in other words – transform toward something they really aspire to be or avoid something they really DON’T want to be. You do this based on a combination of knowledge about your market, watching what people are saying and doing in your market, products that are selling versus those that aren’t and testing…this will get you to a very specific sub-niche to kick things off
3. When you have the specific sub-niche identified, then you want to identify your unique differentiation (unique perceived value) that you will bring to the table. That could be product differentiation, branding, your format or teaching method or all three.
It all starts with looking at your business as a BUSINESS and not as a short-term opportunity.
When you change to that perspective, you’ll find you look differently at all aspects of setting up your business – you are in this to build a strong Enterprise not a single product or website.
