Have you ever woken up one day and just been like, “Yeah, this isn’t working for me anymore.” You might be thinking that about your business niche. Is it time to change your niche?
The first sign you want to look out for is that your niche is too broad.
If you are targeting 20 to 60 years olds, that’s too big of a market because 20 years and 60 year old have difficult problems and they have different goals and they probably have different interests. For example, I’m 28. I love to follow a lot of health and fitness people on Instagram, especially those who share kids meals so I can get more ideas for our foster kids.
But my dad, who’s turning 60 this year, he doesn’t even have Instagram, first of all, but if he did he probably wouldn’t follow those same people. But let’s pretend that he liked to follow health and fitness people too. Well, he’s probably going to want to follow people who are sharing modified exercises for older people. There are not a lot of people out there that my dad and I could both follow and get value from because we have different interests and different goals and different lifestyles, except maybe John Crist or Jeff Foxworthy. We both find them funny.
The second sign you might need a new niche is that they’re always asking for discounts.
They’re just trying to nickel and dime you to save every little dollar that they can. Because if that niche doesn’t want to pay for your services, like they don’t have the budget, then it’s going to take a lot of work to convince them to work with you. For example, I sometimes get inquiries from bloggers. These are strictly bloggers, they’re not trying to make a business out of it they’re just blogging for fun and they want me to design something. Well, they are in a business so they don’t really have money, they don’t have a business account, so they’re pulling from their own personal pocket. And so, no, they don’t want to pay what I charge to design banners.
The third sign that you might need to change is that they just aren’t hiring you.
And this is different than the budget issue we just talked about, and to be fair, there may be a few reasons that your business niche is not hiring you. First, they might just not know you exist, which can be a pretty big issue, which is where content creation can really be beneficial to get your name out there and increase your visibility. And shameful plug, this is what I teach inside my Content to Clients program, which is reopening at the end of March. But if you are creating content and they’re still not hiring you, they’re not even inquiring to work with you, it could be that you’re not offering what they want or need. So if you love what you do, you may need to just change who you are targeting or if you are flexible and want to do other things you could stay with that niche but change what you do.
And last but not least, the fourth sign that you need a different niche is that you’re not excited about the work that you do.
So far we’ve really just been talking about clients and profits and all the things that go into business but if we’re going to be our own boss, shouldn’t we actually enjoy the work that we’re doing? And don’t get me wrong, I hate taxes and I hate the admin stuff, I’m talking about the actual work that we do with our clients.
There was a time that I thought I was going to niche down and work with photographers. I had worked with a ton of photographers at that time and then I realized I really didn’t enjoy these projects. That’s nothing against photographers themselves, I just didn’t like that work. And so I started to think about, what clients did I really enjoy working with? And I discovered one thing they have in common is that they were all in the health and wellness industry, the few that I really, really enjoyed working with.
They also really enjoyed tacos as much as I do, so. Yes, changing your business niche can be scary and a little bit overwhelming because there’s a lot of work that has to go into it potentially with how much you would need to change on your website, change about what you post on social media, who you engage with. But it can really improve and grow your business if you have a more profitable niche and it can make your life better if you actually enjoy working with that niche.