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Feb 15

E391: Ask Coach – Finding The Right Niche Market

Choosing the niche that’s right for you takes careful consideration.

Q: How do I decide which niche it right for me?

A: 1.) What are you passionate about? 2.) What are the market conditions? 3.) What is the current state of your business?

 

  1. Your passion – not just the projects you like
    1. What types of projects get you excited?
    2. What other aspects of business get you excited?
      1. Don’t like paperwork, avoid Government work
    3. What types of clients do you like working with?
  2. Market conditions
    1. What type of work is available in your market?
    2. Is there enough work? Do you need multiple niches? Do you need to travel?
    3. Can you sustain and grow your business in the niches? Will they last?
  3. Current state of your business
    1. What talents, equipment, people, resources do you have? How do they fit?
    2. What additional resources are required?
    3. You can always start small and grow into your niche(s)
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