How to pick a niche: part 2

How to pick a niche: part 2

If you are seeking help selecting a niche, then this article is for you!

When selecting a niche, take these three things into consideration: 

1) Which niche will you love working with each day/interests you a ton

2) Which niche do you believe (hypothesize) can be profitable if the right problem is solved

3) Which niche are you willing to commit to. 

From here I recommend taking your top 1 or 2 niche's and begin your market research. 

We want to follow this equation here A x B = C or Niche x Service Offer = Desired Result of Customer

When we start out we do not have any of the ABC filled in. Follow these steps for creating a solid framework and foundation for your consulting business. 

1) Pick1 or 2 "A's" or niches

2) Before figuring out B (service you will offer them) we need to figure out C (what they want/their biggest problems)

3) To discover C, figure out where the niche can be contacted and try using email, social media, telephone, inviting people for coffee, etc. to discover what the biggest challenges they face on a daily basis are. 

4) Once you have discovered C (their problem/desired result) you can begin to develop a service offering (B)

5) From here you will think about the skills you have to solve the problem, the skills you can acquire, or the skills which you can outsource and leverage a proven experts experience in a specific industry. 

After taking these steps we will have our completed equation of A x B = C and are now ready to start reaching out to the market.