If you are stuck defining your niche or figuring out your “target market”, maybe let it go for now, because you might be trying to define things too early in your business....
The typical reasoning:
Define Niche ➜ Create Content & Offerings ➜ Get Clients
In my experience coaching hundreds of authentic businesses, the above formula doesn't work for a lot of people.
(Originally written in January 2018; updated July 2019.)
An authentic business is financially viable and deeply meaningful to you. You make enough money. Yet, the activity itself feels worthwhile, regardless of the money.
I’ve been blessed with the opportunity to help many people in their authentic businesses, and also operating my own successfully for over a decade.
There seems to be 4 important layers of activity for every successful authentic business.
5+ years ago, I drew up this Venn Diagram to help people reflect on their niche…
In this blog post I'll explain what it means, especially the importance of the two dots.
A reader asked:
“We often hear that we only commit to things we pay a dear price for. Today a coach tried to sell me a £20k program to work with him 1-o-1, weekly sessions for a year. And he justifies the price with the need to commit: if you pay for a cheap service you won't be so likely to commit to change.
As a healer, I wonder if selling high price packages might actually help my clients stick with my healing programs instead of being distracted by the next thing they find online.
I remember you talked about self worth and money, but not sure about the relation between money we pay and commitment.”
This is a great question, and as you study business, you will encounter this kind of advice: charging higher rates so that clients take it seriously.
Let me share my own experience, and what I recommend instead....
George Kao is a Marketing Coach for small business owners, especially solopreneurs such as Coaches and Mentors. He focuses on ethical & effective ways to grow one's platform and build true livelihood.
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