Find your Niche

Hey guys, Calvin here from Young and Wildly Successful talking to you today about how to find and dominate your niche. This is a two-part video series in the blog we put together for you guys. It would help you know how to look at where do you go to find out who you are meant to be working with. We talk all about your niche and your dream customer. How do we find that? Oftentimes there are so many people we could work with, and what happens is when you’re too wide, you miss too many people. You know this is the age-old saying, “If you try to be all things to all people, you end up becoming nothing to everybody.” And so you know I think that it’s a beautiful quote that was once shared that not even God has managed to appeal everybody right. There are multiple gods out there. So you’re not going to please everybody and that’s not the end of the game.

Steve Jobs once said he was more proud of things that he said no to than the things he said yes to. So we want to know who we are working with, and in doing that, it actually makes it easier for us in businesses to succeed rather than trying to be everything to everybody because then we’re trying to do all the different things and we keep changing our plans and strategies. So in this initial video part 1, I’m going to help you find who your niche is. Then in video number 2, once we know what our niche is, we’re going to then show you how to dominate and win that game and to be able to psyche yourself up to success as well. We’re looking at some really great guru unlocking strategies that are going to help you rock ‘n’ roll.

So what I want you to do is make sure, in order to get the most out of this, that you got a pen and a piece of paper, or you got a notepad, and you’re going to be able to really go through this. This is not meant to be just intellectual. I want you to actually do the activities. I’m going to be asking you questions. I’m going to be challenging you, because remember, if you do it, it gets done, you get the result, you know. If you know it, but you don’t do it, they say knowledge is power only if we use this. To know and not yet to do is not yet to know. This is really powerful if you implement it, and let’s get started.

So, first thing you want to talk about is choosing the niche. And I think it’s very beneficial to outline a couple of key segments. And I’m chunking down on detail for you, to allow you to be able to get more clarity. The deeper you go, the more clarity you get. They said the devil’s in the detail. So, I want you to first pick the industry that you’re working in. And I’m using Young and Wildly Successful as an example, but I’ve got a couple more to share with you as well, and so our industry might be coaching. Within coaching, there are series of different sub-industries, and one of them is business coaching. You also have health coaching. You also have life coaching and relationship coaching and career coaching, but coaching is the industry and then the sub industry for us is business coaching, okay.

The niche, to then break that sub industry down because there are a million types of businesses, absolutely, right? There are a lot of different types of styles of business coaching as well that we could talk about this. There’s online and offline business coaching. So there’s a lot of different pathways, it’s a bit of pick your own adventure, but if you go from coaching, if you chunk that down, the sub industry that we’re in is business coaching. The niche that’s within that sub industry is what I refer to as wellness businesses, and that’s sort of an industry in and of itself when you think about it, but the main wellness businesses are speakers and coaches that are making a difference in people’s lives, nutritionists, chiropractors, fitness professionals, whether it be from a nutrition standpoint or a gym perspective, anyone that’s in really that space.

Then the niche goes to a micro-niche for us, and this is really the space that we want to play in. And so we’re looking at under 40 wellness business owners in Australia. And so if you look at it, you could say, “Well what do you do?” “I’m a coach.” But that doesn’t really give us a lot of perspective, because you could coach anybody on any topic. The sub industry that we focus on, for Young and Wildly Successful, is business coaching, because we’ve got results on that area. We’re able to build a multi-million dollar business ourselves, which our clients do the same thing.

The niche that we really want to work with, this is based around what I’m passionate about is wellness. I’m passionate about wellness. I think there’s a wellness movement that’s happening at the moment around the world, and so if you’re watching this video, I know that 9 times out of 10, that you’re a wellness-based in business. Either you’re a coach or a fit pro, or a nutritionist or a naturapath, or kinesiologist or something along those lines, in that ilk, if that makes sense.

But the micro-niche is that you’re traditionally beyond the age of 40 years old. Now why is that the case? We looked at the industry and we said look, we could play in a lot of key coaching sectors. You know we also do key performance and success coaching as well. That’s our Young and Wildly Successful Success Academy. That’s a different arm of our business, but for business coaching, the one I’m talking to you today about now, that’s a business coaching arm. We then looked at it, and we said, “What’s this space that not only I’m most talented at, what’s the space I got the more results at, what’s the space we can make the most money at, but also what’s the space that I have a competitive advantage in?” It’s clearly in wellness.

I know nothing about law. I know nothing about accounting. So in those areas, I’m not going to becoming in accountant coach, right? I’m not going to help someone build a dental practice, for example. I don’t know those business models. There are people out there that there niche and sub-niche is purely focused on working with dental business owners, for example, right? But that’s not me. Likewise, as well, I don’t have any clients that are in the building construction industry. There are companies in Australia that focus on that type of coaching, but it’s not me.

So depending on who I really want to work with is all, because all of my business clients ultimately end up working with me for close to 18 months, and some of them have now, we bought into their businesses and we coach them and we actually have ownership stakes. So sometimes, it’s a lifelong relationship and I’m always playing a bigger game. So the micro-niche for me though is looking at, as a young business, as a young person in business, as a young entrepreneur, where’s my strategic advantage? We’ll talking about winning the game later and that’s in the second part of this series, but the micro-niche for me is under 40 business owners.

The reason why is because if you’re a 55-year-old accountant, you’re not going to hire Calvin from Young and Wildly Successful, the name itself positions us as a micro-niche anyway, you’re not going to hire Calvin from Young and Wildly Successful to help you build your business. Why? Because you’re probably going to, “Well, what’s this 25-year-old know about business?” Now, there’s a variety of things I know and I’ve got success on all different areas, but for you, you are looking at a gray-haired, 70-year-old business retiree coach/whatever, that’s a different positioning. It’s a different proposition, that’s a different value position, it’s also a different skillset and that’s not me. What I’m going to relate most with is young people, people under the age of 40 that get me, that understand me, that are looking for that competitive edge, that are looking for passion, and are looking for something different. So I’ve designed my business around my strengths, and I think you should do the same.

Here’s another example. It’s actually one of our clients, I’m not going to share who it is, but here’s an example of what we would work through. He said, “I’m in health and fitness.” I said, “Great! What’s the sub industry of health and fitness?” And he was in nutritional coaching, so he’s not a gym owner. He’s not a trainer. He’s not a yoga teacher, for example. He teaches people about sports nutrition. The niche within the sub industry, which is sports nutrition or nutritional coaching, the niche is he does nutritional coaching and he does it only for men. So he doesn’t do any female programs, he purely just does it for men who are looking to build lean muscle. There are some guys out there that are looking to lose just a heap of weight. There’s niche there of men that are wanting to lose weight. There’s also a niche that’s for men who are looking to build lean muscle and not always under the same niche.

The micro-niche is nutritional coaching for men, and particularly men based in Melbourne, Australia, who are looking to lose 10 to 15 kilos and put on about 10 to 15 kilos of lean muscle mass. You can see how that’s a sub-niche or a micro-niche of the overall industry which is health and fitness. Too many people abroad, they are, “I’m a health and fitness practitioner, or a wellness practitioner.” What does that even mean? “Well, I happen to work in nutrition.” Who do you work in nutrition for? “I work in nutrition that want to lose weight.” That’s not a niche. There’s a million people, actually there’s multiple millions of people, I should say, that want to lose weight. That’s not a sub-niche and certainly not a micro-niche. Getting clearer on “I work only with men who are between the age 20 and 35 that are wanting to lose 10 kilos and put on 5 kilos, 10 kilos of lean muscle mass that live in Melbourne,” that’s a micro-niche within the area. That allows him to clearly understand who his client is. That means he doesn’t have to market to Sydney. It means he doesn’t have to market to women.

And so by being able to specialize down into a micro-niche allows us to penetrate the market deeper, and our head of marketing at Young and Wildly Successful Kim Barrett always say, she says, “Calvin, we want to be centimeters wide and kilometers deep.” So what you want to do is to make sure that you’re not kilometers wide, but you are centimeters wide, this is a very small niche, but allows you to be deep and own that marketplace as well. And I can assure you there are more than enough men living in Melbourne that want to lose 10-15 kilos and gain 10 kilos of lean muscle, right, that are looking for nutritional support for him to make a multi-million dollar income, right, which is more than what most people have ever been dreamed of. So the challenge for a lot of people is that they don’t want to chunk down too low because they have a fear, and the fear is that simply that there’s not enough people out there, and that’s bullshit. You have to delete that ad on Facebook, but it’s BS or a belief system that’s holding you back.

Here’s another example, and you might be some professional speaker. Okay, great, what’s the sub-niche? Well, there’s a lot of different ways of doing a professional speaking business. The sub-niche is that I’m a keynote speaker, for example, if this was you. And the keynote speech is that my niche is I’m a keynote speaker on the topic of resiliency, but there’s a lot of people that need resiliency. Do you teach moms about resiliency, dads about resiliency, corporates, the military, the armed forces, the elite sporting teams. So you could have a micro-niche which is elite athletes in the military in the USA where we talk about resiliency and we’re a keynote speaker. That could be your business, right? So it’s about chunking it down, all the way down.

So what I want you to do is I want you to identify your industry. I then want you to chunk down in the sub industry and you can write a lot of different sub industries and the people who are you are most comfortable with. I want you to identify the sub industry. I then want you to identify what is your niche within that sub industry, and then I want you to identify your micro-niche within that sub industry, as well. That’s what I have for you guys as a bit of an activity. And then what we’re going to do is once you’ve done that, right, once you’ve got clarity on your micro-niche, you’re going to then identify your dream customer.

And these are the key questions. I want you to put a name to your dream customer and I want you to know is it a man or is it a woman? What’s the age of your dream customer? And don’t give me a bracket from 20 to 40 or from 30 to 60. The reality is if you’re a woman, you’re dealing with very different problems and challenges and have different dreams and aspirations when you’re 20 years old than when you are 40 years old, right? You’re very different between being a 20-year old female and a 45-year old male. So having a brand and a bracket, that might mean that you can work with men and women, there are no problems with that, but understand you have to have a different client out line or what’s called an avatar, you have to have a different client avatar for a man and for a woman. And if you have an age range, you need to have one for your 20s and for the person in their 30s, one for persons in their 40s.

Now you might look how, “This is a lot of work.” It is a lot of work. Why? Because if you want to stand out, if you want to do a multi-million dollar business, or even a six-figure business, we have 6, 7, 800 and thousands into your business or over half a mil, if you want to do that sort of thing, you’ve got to do things different. You’ve got to have depth. The devil’s in the detail. Clarity equals power. Awareness precedes change. I can keep going on and on about the importance of this. We’re going to go through this.

Once you got the name and their age, your key demographic factors — are they male or female, where do they live, and what sort of sports do they play. Key demographics — what’s their income range as well. I want you to identify what’s their five biggest dreams, I then want you to identify their five biggest fears, their five biggest problems, and their five biggest interests. So, I’ll repeat that: five biggest dreams, five biggest interests and passions, five biggest problems, and five biggest fears. Then when you finish all of that, I also want you to ask yourself, who are three to five people they follow online?

This will all be in the template, by the way, that you can download underneath the blog, but I would encourage you to do it. It’s not just designed to be intellectual, this video, guys, it’s designed to be actionable. So I want to make sure you go through it as well. If you do this, you’ll have more clarity than ever before. Understand this though, there’s a point, when I do this myself as well, I do it with Kim and our team around the world, there’s a point where I go, “Oh, I want to do something else,” and it’s at that point that you’ve got to keep persisting, you got to keep asking questions, and continue to test and understand and interact. It’s good to do this with a team of people, by the way, but if you can’t find a team, just do it by yourself and go through it. Oftentimes, your dream customer was you a few years ago, but that doesn’t always have to be the case.

So to summarize quickly, in order for you to find your dream customer, in order for you to find your niche, you got to first look at your industry. In your industry, identify the sub industry that you’re playing in. From the sub industry, identify the niche. From the niche, identify the micro-niche. And then within that micro-niche, I want you to nail down who your dream customer is as well. Please do that. Fill in the form. Push it up online for us as well so we can give you some feedback. If you have any questions, make sure you reach out, calvin@youngandwildlysuccessful.com, or by all means, on the link on the bottom as well. We’re more than happy to have a bit of an engagement and an interaction with you as well. Remember, if you don’t ask, you don’t get, so simply go ahead and ask the question.

And then, on the next video, the second part of this training, I’m going to show you how, once you’ve identified this, it’s a prerequisite you’ve done this, but after you’ve identified this, I’m going to show you how to win that game as well, how to go out there and really dominate your industry, and so that you become the number 1 person, the authority, if you will, in your space, so that clients come to you and rating fans, you make a heap of money and you make a heap of difference in the world as well. Can’t wait for that one. Stay tuned. Good luck, God bless. I’ll see on the video, guys. Remember to live life on your terms.