2 Questions To Find Your Niche & Fuel A Successful Business

This post was first featured in Entrepreneur.com.

Tell me, what do you think is the scariest, but also most profitable commitment you can make to your business?

I believe… it’s thinking niche!

Think about it. You are starting a business. You want (and need!) to make sales. Of course you don’t want to say no to anyone. Naturally, the idea of targeting a very specific market – thereby excluding others – is scary.I get it. When I started out, I positioned myself as a life, career and business coach. I was making sales, but was also targeting three distinct personas. This was no easy task and it left me feeling drained.

I decided to take a vacation. And got so sick! I had finally given myself a break and ended up sick in bed the whole time. I chose to see it as a sign. Something was telling me to take a step back and re-examine my business. I had to seriously look at what was working, what wasn’t and how to course correct.

I asked myself two defining questions:

Question 1: What type of work brings out the best in me?

Not just the type of work I do well, but work I enjoy so much I’d do it even if I weren’t getting paid. Work that energizes me, makes me excited to start each day and leaves me feeling fulfilled. That’s the kind of work that truly brings out our very best selves.

For me, the answer was helping people transition from their day jobs to creating full time businesses they love. This is work that totally excites me because I believe we should all do work we love, make our dream businesses come true and not work to make someone else’s dream come true.

Being present for that transition period, guiding people towards their purpose, helping them take those first steps and working with them to establish long term success strategies… that’s the kind of work that truly brings out the best in me.

Question 2: What type of clients fuel me?

The people we work with have a huge influence on our enjoyment of our work. Loving your clients is just as important as loving the work you do with them.

To me, it’s the clients that truly want to move forward. Clients that are into personal growth and becoming better people, not just creating successful businesses. Clients that want to create heart-based businesses, meaning businesses they love to work at all day long even if they don’t get paid (even though they also want to make good money, of course).

I believe everything works together. If something isn’t working in your personal life, it will affect your business (and vice versa). I truly believe in taking a holistic approach and work best with clients who are on the same page.

How these questions fueled my business

After being honest with myself in answering those questions, I decided to take the leap and go niche.

I would narrow my target market down to only the work and people that brought out the best in me.

I re-did my whole website and all my marketing. I narrowed it down to just those people who wanted to transition from their day jobs to creating successful businesses. People not just looking for marketing coaching, but looking to take their lives to the next level as well.

I was really scared making this leap. I was a single mom and actually turning down potential business!

But I did it. I took the leap.

And guess what? My sales increased 3-fold!

Why? Because people who are thinking of transitioning now remember me and resonate with my messaging on a deeply personal level. I am fully answering the need of a specific group of people.

When they come to my website, they feel I am talking directly to them and providing them the exact tools they need to get where they want to go. When I was splitting my marketing among 3 personas, people were not identifying me with a single problem. I was not talking to one person specifically. I wasn’t truly connecting with anyone.

Today, I enjoy my clients so much more. I am so much more fueled by what I do. When I’m fueled, I give the best of myself to my clients, who are in turn super happy, keep coming back to me and refer others.

Ask yourself the above two questions. Be as honest and open as you can in your answers. Then take the leap and go niche. Commit. Don’t go back. I promise, this scary leap will yield huge profits and much heartfelt joy. Don’t you owe it to yourself to truly love what you do?

If you need helping taking this leap as well as determining and marketing to your niche, contact me.

Here is to you being the CEO of your life!