How to Niche Down and CRUSH Your Competition (Entrepreneur and Business Advice)

Hello what's going on? I'm Pat Flynn and I'm here to make content creation easier, more fun, and more profitable for you. Today, especially when it comes to profits, we are talking about

niche

markets or the target audience you are really targeting. It is more beneficial to aim small because the truth is that if you go too big and too fast you are going to lose. Make sure you stick around because in this video I'm going to teach you different types of ways that you can decide to focus on a

niche

. below and how that will be beneficial to you and

your

audience, as I often say, the riches are in the niches, although technically I know they are niches, but then it's the riches and the niches, and that doesn't sound so good, there are several benefits to begin.

By targeting a smaller group, number one, there is less

competition

, there is less noise, there are less people trying to get the attention of this specific group, therefore it is easier for you to be number two, to become the leader. faster and become that favorite resource that not only people will turn to. but people will share with each other when they find people like them. Number three, it's a lot easier to create content for a specific group of people because you can go deeper with them and when you can go deeper with them, people will understand that you're the one for them, especially when you're fluent in the language or the lyrics, as I often say, to which they will respond, you can discover, understand and study the language that this target audience responds to and when you do, they will often see that you are the go-to person, Jay Abraham, a famous marketer, once said that if you can define the problem better than

your

target customer, they will automatically assume that you have the solution and the more specialized you are, the better you will understand the language with people number four, the solutions.

They are much more obvious because you are dealing with a smaller group of people who have a very specific set of problems. You can create that very specific set of solutions and gain a lot more traction faster. Now I know there are many objections to starting small. and removing one of the biggest objections you might have too, wouldn't that mean I can't actually reach that many people? Yes, mathematically, that is true. There's a smaller group of people you can actually. affect and speak, but the truth is that because you are so specialized, you are going to make a deeper connection and reach more people than you could if you were broader, for example, let's say you were in the fitness industry and wanted create a general fitness website as a resource, so he talked about everything related to weight training, weight loss, nutrition, gluten-free supplements, all that kind of stuff for someone who is specifically interested in running their first marathon, you'll visit your website and you'll either get lost trying to find that information or you'll realize that there's actually someone out there who is specifically focused on helping someone like me and you'll think about it from a product perspective, yeah If you were running your first marathon, where would you prefer to go? your shoes, would you rather go to Target or Walmart or some general store where they sell shoes, groceries, home furnishings and all that?

Or would you rather go, if you're serious about this, to a person who knows about running and has resources and products about running so that you don't get hurt, you can train better and hopefully finish that race. While yes, you are technically targeting a smaller group of people, you can make a stronger, deeper connection and create better solutions for that group. From people, the second common objection I get is that they are often worried about pigeonholing themselves into that space. Oh, I don't want to be known as the person who just helps people who run. I enjoy all kinds of fitness things and I don't want to be known only by runners, okay I get that too, however, again, to make an impact on a person, they have to know that you are a resource that is a great fit for them. they.

The beauty of this is that you can start with one inch wide at one mile. deep and then over time maybe you grow two inches wide, three inches wide, start bringing in other types of people, start with runners and then you get the ellipticals and then you get the athletes and the people who are maybe now involved in cycling. You can expand from there after you start and make a name for yourself, something very common that I always see happen, however, when a person starts small, many times they love that space so much and the audience loves them so much that they end up staying. around they don't even care about anyone else now they're going an inch wide two miles deep three miles deep now instead of focusing on other niches now they're going more to the niche they started with now it's not just an online course but now It's a training program and a live event and all these other things that you can offer vertically instead of horizontally and then having to learn new languages ​​and marketing tactics and all those other things, the riches are in the niches, so which you may be wondering how.

Do we focus on a niche? Maybe I'm in a space and I know I need to be a little more specific for the type of things I need to offer and the type of people I need to talk to. How can I do that? Can I start right? Here we go first. It can be limited demographically. Maybe instead of targeting everyone of all ages and all genders, maybe you're specifically targeting women over 50 or men between 18 and 25. Those different audiences respond. in different languages, they are in very different parts of their lives and therefore you can connect with them better if you actually write the right language and understand more about their pains and problems and needs, so that's the number one demographically, age or maybe even location and gender ranking number two, how a person is classified, for example, if you're helping people with content marketing or maybe just marketing and advertising in general, that's one thing, but What if you became the go-to person for Facebook marketing for authors? or content marketing for speakers when a person can say oh that's my profession or I'm classified as such, there's a resource specifically for that classification, that should be the person I should at least go to to learn more about what's interesting about nicher Whether it's demographics or classification, the idea is that these people will find and meet other people who are like them and when they find a good resource and you guess who they're going to share with their friends, number three is your niche. .

It could be based on a specific goal, so let's take this runner situation for example, let's say I have a blog about running like good runners within fitness, that's one space, but what are the different goals that runners have? Some runners want to run 5K and talk to them. Someone getting off the couch for the first time and running their first 5K should be talked to differently and given different solutions than someone who is running their fifth marathon and pursuing a professional career. Maybe you're specifically targeting people who have a goal of running the Boston Marathon.

Maybe you're helping people transition from marathons to their first ultra marathon or Iron Man race, whatever the specific goal is for the guy. of person or market you are in, you can build for that quarter and finally you could base This is due to the pain or the problem. This is very similar to goals. In fact, the goal is usually the solution to the problem, but it depends on what is most important. Sometimes the goal is the most important thing and for a runner it is definitely what I want. I imagine crossing that finish line or finishing that race for others, it might be the problem that really draws them in and the problem and pain that prompts them to find a solution.

For example, if you buy a new above ground pool instead of just Going to a pool maintenance website, you will go specifically to solve the problem of how can I keep my above ground pool from having algae and make it last all summer so I don't waste water. and that is solving a problem because there is really no goal there, I want to have a good pull so I can swim and yes that is the goal, but the problem is what we are trying to avoid, how do we handle this? How do we maintain it? That's why basing your niche on the problem or pains that people want to avoid or find solutions to can be a great way to narrow down your niche too Now to finish, I'll say if you're in a niche that, for example, encompasses several types different. demographics various targets different problems classifications okay, it doesn't mean you're doing it wrong, it doesn't mean you have to eliminate 75 of your audience and focus on just one, but what I do think it means is that you need to know what groups exist in your audience and who you're talking to and when and when you create solutions to problems, who within that audience are the people you're talking to that relate to this specific solution that you're building when you create content for who specifically this is and i want to end with a story about some content that i published several years ago that i thought was going to flop because i thought it was too specific in episode 96. of the smart passive income podcast, i interviewed a man named corey huff about how artists can make money online and in my audience I didn't know any artists that were in my audience, but I heard about creating a niche and creating content specific to a small group can be very powerful, so I said, "Okay, I'm going to experiment with this." I found this person who was an expert because I'm not an artist so I didn't know how to solve this problem and I interviewed him.

I got some really good answers about how any artist, sculptor, painter who can can make money online and this podcast, which was so limited, was one of the most downloaded podcasts I had created up to that point, with over a hundred thousand downloads. six months because this went viral in the artist community, the few artists that were in my audience benefited from it, many people in my audience who knew the artists then shared it with them and then this started posting within the community of artists and this episode. it went viral there the riches are in the niches my friends niches niches I know this very well so I hope you enjoyed that video thank you very much make sure to hit the subscribe button below and the bell notification icon because I'm going to continually come out with content for you to help make content creation easier, more fun and profitable for you too.

Thank you very much, I appreciate it and I look forward to reading your comments. Let me know below what kind of niche you are in, what your demographic is. segmentation I would love to give you a chance to talk a little bit about what you do or who you plan to target and then if you like this video, give it a thumbs up, thank you very much for that. Please help other people who could benefit from this video find it too and thank you again. I appreciate you watching that video if you want to see something new and as always, peace and Team Flynn for the win.