The Niche Test: How to Build Your Business for Success

These days, if you want to succeed in the fitness business you need to find a killer niche.

And the good news is that there are untapped niches EVERYWHERE.

In fact, sometimes you can even find a new niche by starting with an existing niche and making it even more specific.

niche marketing

HOWEVER…just because you discover a good niche, doesn’t mean it’s the right niche to build a business around.

And even if it is, it might not be the right niche for you.

Now I’ve been talking about niche marketing on this blog for a while now, so I assume you’ve already been on the lookout for untapped niches so you can set your business apart, generate more loyal clients, and earn yourself higher profits.

So today, I want to give you a test you can use whenever you stumble across an interesting niche. This test will help you determine ahead of time whether that niche will make for good business…and whether you’re the right person for the job.

Here goes: the questions you must answer before you chase that niche!

How Rich is The Niche?

  

Corny title, I know, but it’s an important thing to consider.

Keep in mind here I’m not strictly talking about wealthy people…if a niche is large enough and interested enough, you can possibly generate high profits even at low prices.

What I really mean is how “rich” is the niche in terms of what are its possibilities? How big of an impact can you have on how many people? What kind of rewards can you expect?

So let’s break that down point-by-point.

How big is the niche?

This part is fairly straightforward: bigger is better.

By definition, a niche is never going to be as big a number as “everybody,” but you do want to make sure you have a sizable chunk of potential clients out there.

If the niche you’re thinking of is only 20 people, you either need to find a different niche or somehow command EXTREMELY high prices. You’re better off taking the first option.

Competition? 

Ideally, you want to find a niche that has zero other businesses competing for their attention, but there’s room for flexibility here.Competition

For example, if you know that you’re going to offer that niche a level of service that is completely beyond their wildest dreams, then you’ll wind up blowing the competition out of the water.

Or, you can avoid the competition completely by making your niche even more specific.

The one thing you want to avoid is trying to beat the competition at their own game. They’ve been at it longer than you have, they already have the audience, and their business is already field-tested – if you try to go head-to-head with them, you’re toast.

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Can the niche afford your services?

Notice my wording here: can THEY afford YOU.

You don’t want to fall into the trap of sinking your prices just to grab the clients that nobody else is going for. There might be a good reason why they aren’t

Remember also that your job as a salesperson and an entrepreneur is to BUILD value for your business. You shouldn’t be making yourself the cheap option.

In fact, if you’re really delivering quality service, and you market and sell like a champion, it’s fine for you to be right on the edge of your niche’s price range. They’ll see you as a premium option and be willing to invest in your services because of it.

Does your niche have the time?

Pay attention here, because it’s not just about how much time they have, but WHEN they have time open.

This is especially important if you are personally going to be involved with training, since you’ll have to build your schedule around them (until you hire other trainers, at least).

Are they interested in your offering?

Be interesting and interestedThis is the big one. If you can’t say “yes” to this, none of the other questions matter.

The only way to be able to answer this for sure is to DO YOUR RESEARCH! Go talk to people in your niche, pitch your business, and listen to their feedback.

People have a surprising ability to sniff out cynicism. Don’t think you can sell to a niche just because nobody else is selling to them. If you aren’t offering a service they truly want, you’re in for an uphill battle.

Are You Right for the Niche?

  

Now I would argue this is less important than the first part of the test, since with a strong offering and a clear business plan you can break into almost any niche.

However, this section can help you grease the wheels a bit and help you use the resources already at your disposal to get a head start in your business.

Here goes!

Do you have personal experience with this niche?

If you do, you can save yourself a lot of time connecting with your audience by just demonstrating that you’re one of them.

For example, I’ve seen women in the fat loss market generate HUGE leads simply by telling their audience their own true stories about being overweight and finding a way to get in shape.

Again, this isn’t strictly necessary, but it’s a good place to start, and it can save you a ton of time and effort.

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Are you knowledgeable about this niche?

This is especially important if you don’t belong to the niche personally.

If you’re going to market effectively to any niche, you’ve got to KNOW them better than they know themselves. You’ve got to know what their daily schedule looks like, what their deepest fears are, what their deepest wants are, how they talk, where they like to hang out…

…basically everything you can mention that will make them say “oh yeah, that’s me!” 

Like I said, DO YOUR RESEARCH!

Are you well connected with this niche? global connection

Again, this isn’t strictly something you have to have right away…but if you’re starting from square one, building these connections is going to take a LOT longer than you think it will.

Consider the connections you already have. Maybe that can even help you find a niche you weren’t even thinking about.

Are you passionate about this niche?

Ultimately, I don’t consider this optional at all.

If you want to build a business around a niche, you either have to start out passionate about those people or find the passion once you get there.

Like I said before, people can sniff out cynicism…

But more importantly, wouldn’t you rather spend your time working with people you actually like and respect? That’s how I always try to operate…and the few times I’ve forgotten this rule have led to massive headaches that probably weren’t worth it in the end.

So follow your passion, do the research, get specific, work hard, and go change some lives!

Committed to your success,

Bedros