The Problem with Niches

The truth is that the niche isn't the problem or the solution. It's the approach that's flawed.

The framework is backward. You are trying to squeeze money out of a subset of people who are not connected to your brand.

Instead, you should be figuring out your skills and interests. Find out how to educate/help a subset of your peers with similar interests. You are the niche.

Create content through writing or videos. Make sure it contains easy-to-follow, actionable steps. Convert that into products or services that help fast-track the solution.

In simple terms:

• Narrow down your interest

• Create content on those topics

• Find a group of like-minded peers interested in your "niche(s)"

• Expand new offerings like a product or a service

• Revise and repeat

It's not about the niche but the brand you create.

There are 3 Big Problems with Niches

1. Spending too much time choosing a niche

2. We think only specific niches will make money

3. We feel married to our niche

Let's break down each one.

1) Spending too much time choosing a niche

It's the first step in most people's checklist for building a business. We brainstorm our target audience and then "niche down." This is a mistake.

The problem is that we tend to think what we do is boring, so we look for exciting new areas to explore. There is nothing wrong with that, but it's like venturing into an unknown land and expecting riches without the knowledge.

We spend too much time "researching" niches since they are potential NEW interests. We throw a dart at the wall, hoping it will resonate and match our brand.

The truth is that it should be quick to find your "niche." It's you.

Here is an easy exercise to find out what niche(s) you are already into:

• Look at your YouTube history and see what videos you watch

• What books do you read for fun?

• Think of what you spend your free time on, such as a hobby.

• What accounts do you check every day. What do they talk about?

• What newsletters or content do you consume?

• What is something people say you are world-class in?

It doesn't have to be a single niche. It could be a combination of multiple. We are all humans, and we are all diverse.

Know that it will change as you grow. Look at your current interests and skills and start with that.

2) We think only specific niches will make money

I see this all the time in articles about choosing "profitable niches." It's such an overused phrase. Some people believe some niches won't make any money.

The reality is that niches themselves won't make you money. Your brand and the level of product/service you provide generate value.

In other words, the "niche" is neither worthless nor lucrative. It's a segment of a broader market. It's a market within a market to target more specific audiences with products or services. Money can be made in any niche.

I'll prove it to you. There here are some crazy niches that still make money:

• Budgeting: Boring, bland, yet there is a massive need for good products

• Dog poop: There is software tailored to companies picking up shit, literally

• Vaping: Yes, there are vape content creators, and they make bank

• Sex toys: People review and provide feedback on adult toys

• Toilet: Entire Youtube channels and blogs ranking and reviewing them

• Grass: Mowing, maintaining, and seeding new lawns. Dad mode 100x

The list goes on. Most niches have a segment of passionate people who share the same interests.

Where there are people, there are problems that need solutions. Value is generated when you solve those problems.

Don't be fooled into thinking your niche cannot make money. I challenge you to provide me with one that can.

The term micro-niche has recently become popular. Yet, there is still money to be made in these micro-niches.

I've seen people who specialize in food truck parking in a specific area of town. They find optimal locations with high traffic and sell that information to food truck owners.

There are endless options. Here are some of the funnier ones I've come across:

• Vegan dog treats

• Yoga for goats, yes, goats, not humans

• Drone rentals for private investigators

• Tiny hats for cats (surprisingly giant)

• Tracking down obscure discontinued foods

It's not about the niche. Yes, some will make more money than others. It's comparable to selling used cars vs luxury yachts. But you don't start with yacht sales day 1. Just like you don't get into "how to make money online" as your first niche.

3) We feel married to our niche

I see it all the time in blog posts: Focus on your niche and nothing else. If you get off-topic for one tweet, your entire audience will leave.

In other words, you are a human with skills and interests that are a part of a niche. It's ignorant and annoying to only focus on one niche for the rest of your life.

As you move on to different niches, you can leverage the audience you've built to attract new folks. It's not just about the people you know; it's also about who those people also know.

You shouldn't limit yourself to one niche. You will outgrow a niche as you develop and explore new topics. You aren't selling niches; you are selling yourself.

This is why we found many topics of interest in the first exercise. Think about some of the people you follow. How many of them focus on one niche and one niche only? Do they ever expand into different areas?

Think about the controversial Joe Rogan. Despite having a ton of different niches on his podcast, he is the most viewed on the charts.

The range is chaotic:

• Aliens and ancient civilizations

• Boxing, UFC & Jiu-jitsu

• Hunting, Survival & Outdoors

• Entrepreneurs, CEOs & Leaders

• Lawyers & Journalist

• Scientists, Psychologist & Skeptics

It's the combination of niches that makes humans interesting. It's what attracts a wider audience and allows for exploration and experimentation.

This is what's wrong with the school system. It forces young adults to pick a specialization with limited experience and expects them to succeed in the role and never change.

It's that factory work vs. creator mentality. Don't apply those same constraints to your business.

Everyone is different, and chances are there are people out there going through the same life struggles as you.

A niche is a topic or an area that has opportunity. The best place to look for customers is a few steps below where you are currently.

Don't stress about niches, just run with what you know and make money. Start today!