How To Choose A Profitable Niche (The ONLY 3 Things That Matter)

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Finding a profitable niche is a critical part of developing as an entrepreneur. In this video, I show you the three parts of identifying your niche, so that you can go out and find the area that’s right for your business.
First of all, what is a niche? A niche is a specialized, but profitable segment of the market. Having established that definition, we can break it down and see how exactly to find a niche.
The first part of a niche is the market. There’s a lot of advice that includes getting super specialized and really focusing narrowly on your ideal client. However, in the beginning, you often don’t know who your clients are. So, when it comes to the market, you want to think about where there is demand for what you’re providing. All you have to do is provide something that others are already paying for.
The second part of identifying a profitable niche involves profitability. One important tip is to figure out how your audience really feels when they think about the problem that you can solve. The more strongly that your ideal client feels about your solution, the better chance you’ll have of attracting clients.
The last part comes down to specificity. Think about this: What are the shared problems that the audience has? What are their shared desired results? What are their shared characteristics? By answering these questions, you can determine what aspects you can address in your business. Then you can ask yourself how to help people with the problems, desires, and characteristics you come up with.
Finding a profitable niche will help you get clients and increase your sales. By figuring out where your niche lies, you can develop a focused approach that will be sure to sustain your business.
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[@LuisaZhou]

Which of these three parts do you think will be most challenging for you? Share your thoughts in the comments! For more tips on building an online business, check out this free PDF: www.luisazhou.com/escapevelocityplan/

[@prettyrarekollectionz]

Luisa zhou I want to be a dating/ relationship coach but I don't know how to approach it do you have any tips I have a lot of skills in this area

[@prettyrarekollectionz]

You explained this well I am so happy I found you because you broke it down well you are the only person who really got me to understand what needs to be done thanks

[@angienorris2901]

You have made more sense to me than the pages and pages of information I have found on life coaching. I've just started my studies and was desperate to assess my niche. Thank you for your help. I have subscribed :)

[@lisabergstromlifecoachandt3579]

Again, every topic of your videos I think I don’t need, end up being the most valuable to me!!! Ugh if I had extra money, I’d hire you in a second!!!! You are amazing and hopefully I will get there soon. In fact, You are so brilliant bc I want to make my business grow by watching your free content and then hire you. 👏👏👏👏

[@LuisaZhou]

I love hearing this! :) Can't wait to hear about your business growth!

[@mubarakyahya4162]

This is so helpful I can't wait to discuss or have a session with you ☺️ because I am really lost at the moment 😢

[@elishagabriell6529]

You've helped me identify my ideal client much more, in a field that can be vague. Thank-you!

[@jamesptanner]

This is important stuff, thank you. The core emotion can also be used in sales copy.

[@ericahorowitz5062]

thank you for this! I would love a video from you with more examples of seemingly "not strong" niches but then making them strong with the emotion. Particularly examples where you wouldn't have to cater to a group you don't want to serve (ie: what if that someone who wants to help organize peoples' homes does not have any interest in helping new parents even if that sounds like a good idea profitability-wise? other ways to make what they are truly passionate about a strong niche even if it seems on the surface not as powerful as one related to money, health, love, career, etc.).

[@cheryl2199]

This video is fantastic!! Do appreciate the clear steps, how to get out of my fear and really get my business started!!!

[@david3131winter]

Thank you Luisa, very helpful in helping me to determine my ideal client :D

[@BlissHomeGarden]

I love the perspective of emotion. I’ve been struggling with this a lot since I have a gardening channel. I definitely have trouble understanding what my audience is really looking for. I’ve been doing a lot of how to videos but I KNOW, there’s a bigger picture that I just can’t articulate.

[@artravision]

Here was my emotional experience when I was a new Gardner: overwhelmed, confused, embarrassed, scared that I wouldn’t be able to feed myself if there was a food crisis.

[@sandhiyabeharee9146]

Very informative & helpful. Ta

[@chimdi]

SOOOOO helpful

[@AndrewScottENT]

It took me a while to find my niche, but watching your videos has definitely helped me in my business. ✊🏼

[@LuisaZhou]

Happy to hear that! :)

[@AnggiSahamCantik]

This is such a good insight for me in finding my audience. Find type of person who feel the stronger emotion so they feel the urge to buy. Such a great kindset ❣

[@LuisaZhou]

Happy to hear it! :)

[@smarie8588]

I admire that you are such a strong, ambitious, and determined woman. The world needs more powerful women like you, this is your calling. It is truly beautiful to see a person find their calling, and be living their actual, true purpose. I truly believe that you will move mountains when it comes to empowering woman. I know for myself, I want advice, and I will actually be willing to take directions from a person that has what I want, than someone who wants what I want. You are one of those people, you should use this to flourish.

[@ABCkthwang]

I am wowed by the depth of the topic discussion...it will take a few more views before I can apply it to my targeting and messaging. Thanks!

[@LuisaZhou]

Awesome!

[@VictorTalking]

Luisa, do you think that language coaching is a good niche?

[@jillc6612]

Yea Missouri! ❤️