I see a lot of coaches struggle with the idea of choosing a niche and narrowing it down.
And I get it. It feels counterintuitive to focus on fewer community or audience members.
Seth Godin has written several books on effective marketing, including the importance of narrowing your niche.
I was reading an article he had written and I want to share an excerpt from that article:
He says that the Minimum Viable Audience - a term he coined - is the smallest group that could possibly sustain you in your work.
We usually think that we need to reach thousands or millions of people to have a profitable business. However, that will probably lead us to create an average product for average people.
If we really want to impact other people’s lives, we need to find our minimum viable audience.
When we create real value for other people is when we can have a profitable business.
Seth Godin also says to focus on the audience’s dreams, worldviews, and energy.
If you could pick the members of this audience, who would you choose?
If you could pick them and needed to delight them (something that causes happiness) because you had no one else available, would your product or service improve?
If you had no choice but to ignore the naysayers (they’re not in the group) or the people who don’t think they need you or your work, would that force you to stop compromising and start excelling?
Focus on finding your minimum viable audience (your niche) and creating value for them.
Instead of being bigger, focus on being better. As you do that, you will achieve profitability.
Two things happen when you delight or cause happiness in your minimum viable audience:
Let's dive in with some action steps to help you narrow down your niche.
PS - Links talked about in this episode ...
P.A.T.H. To Your Uniqueness and Value Articulator Statement Formula
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