How to Niche Down and CRUSH Your Competition (Entrepreneur and Business Advice)

hey what's up it's pat flynn and i'm here to make content creation easier more fun and profitable for you and today especially when it comes to profit we're talking about niching down in the market or the target audience that you are actually going after it is more beneficial to target small because the truth is if you go too big too fast you're going to lose make sure you stick around because in this video i'm going to teach you different kinds of ways that you can decide to niche down and how that will be beneficial for

you and that audience as i often say the riches are in the niches even though i know technically it's niches but then it's riches and the niches and that doesn't sound as cool there are several benefits to starting by targeting a smaller group number one there's less competition there's less noise there are less people trying to capture this specific group's attention therefore it's easier for you to number two become the leader faster become that go-to favorite resource that not only people will come to but people will share with each other when they find people like

them too number three it's so much easier to create content for a specific group of people because you can go deep with them and when you can go deep with them people will understand that you are the one for them especially when you nail the language or the lyrics as i often say that they will respond to you can discover and understand and study the language that this target audience responds to and when you do that they will often see that you are the person to go to jay abraham a famous marketer once said if

you can define the problem better than your target customer they're gonna automatically assume you have the solution and the more specialized you are the better the language hits home with people number four the solutions are so much more obvious because you're dealing with a smaller group of people who have a very specific set of problems you can create those very specific set of solutions and gain much more traction faster now i know there's a lot of objections to starting small and niching down one of the biggest objections that you might be having as well wouldn't

that mean that i'm actually not able to reach as many people and yes mathematically that's true you niche down there's a smaller pool of people that you can actually affect and speak to but the truth is because you are so specialized you're going to make a deeper connection and reach more of those people than you could if you went wide for example say that you were in the fitness industry and you wanted to create a general fitness website as a resource so you talked about all things weight training losing weight nutrition gluten-free supplements all those

kinds of things for somebody who is specifically interested in running their first marathon they're going to come to your website and they're either going to get lost trying to find that information or realize that hey there's actually somebody out there who is specifically focused on helping somebody like me and think about it from a product perspective if you were running your first marathon where would you rather go get your shoes would you rather go to target or walmart or some general store where their shoes plus groceries plus home furnishing and all that stuff or would

you rather go to if you're serious about this to a person who knows about running and has resources and products about running so that you don't injure yourself you can train the best and hopefully finish that race so although yes technically you are targeting a smaller group of people you're able to make a stronger deeper connection and create better solutions for that group of people the second common objection i get is people often worry that they're pigeonholing themselves into that space oh i don't want to become known as the person who just helps people who

run i enjoy all kinds of things fitness and i don't want to be known for just the runners okay i get that too however again to make an impact on a person they have to know that you are a resource that's perfectly fit for them the beauty of this is you can start one inch wide one mile deep and then over time maybe you go two inches wide three inches wide you start bringing in other kinds of people you start with runners and then you get the cross trainers and then you get the athletes and

the people who are maybe now into cycling you can you can branch out from there after you start and make a name for yourself a very common thing that i always see happens however is when a person starts small oftentimes they love that space so much and that audience loves them so much that they end up sticking around they don't even worry about anybody else they go now one inch wide two miles deep three miles deep now instead of focusing on other niches now they're going more into the niche that they started with now it's

not just an online course but now it's a coaching program and a live event and all these other things that can be offered vertically versus going horizontally and then having to learn new languages and marketing tactics and all that other stuff the riches are in the niches so you might be asking pat how do we niche down maybe i'm in a space and i know i need to get a little bit more specific for the kinds of things that i need to offer and the kinds of people i need to speak to how do i

even do that where do i even start well here we go first you can narrow down demographically maybe instead of targeting all people of all ages and all genders maybe specifically you target women who are over 50 or men who are between the ages of 18 and 25 those different audiences respond to different languages they're in very different parts of their lives and thus you're able to better connect with them if in fact you write the right language and you understand more about their pains and problems and needs so that's number one demographically age or

perhaps even location and gender number two classification how a person classifies themselves for example if you're helping people with content marketing or maybe just marketing and advertising in general that's one thing but what if you became the go-to person for facebook marketing for authors or content marketing for speakers when a person can go oh that's my profession or i'm classified as such there's a resource for specifically that classification they must be the person i should at least go to to learn more from the cool thing about niching down to whether it's so far demographics or

classification is the idea that these people will find and know other people who are just like them and when they find a good resource and you guess who they're going to share with their friends you number three your niching down could be based on a specific goal so let's take this runner situation for example let's say i have a blog about running like okay runners within fitness that's one space but what are the different goals that runners have some runners want to run a 5k and speaking to somebody who's getting off the couch for the

first time and running their first 5k they should be spoken to differently and provided different solutions than somebody who is running their fifth marathon and going for a pr maybe specifically you target people who have a goal of running the boston marathon maybe you're helping people transition from marathons to their their first ultra marathon or iron man race whatever the specific goal is for the type of person or market that you're in you can build for that fourth and finally you could be basing this off of the pain or the problem this is very similar

to goals in fact the goal is often the solution to the problem but it depends on what is more important is the goal sometimes the more important thing and for a runner it's definitely i want to imagine myself crossing that finish line or finishing that race for others it might be the problem that's really drawing them in and the problem and the pain that's enticing them to find a solution so for example if you get a brand new above ground pool instead of just going to a pool maintenance website you're going to go specifically to

solve the problem of how do i keep my above ground pool from getting algae in it and having it last all summer so i'm not wasting water and that's solving a problem because there isn't really a goal there like i want to have a nice pull to be able to swim in and yeah that's the goal but the problem is the thing we're trying to prevent how do we even manage this thing how do we maintain it so basing your niche on the problem or pains that people want to avoid or find solutions for can

be a great way to niche down too now to finish off i will say if you happen to be in a niche that for example does encompass several different demographics several different goals problems classifications that's okay it doesn't mean that you're doing it wrong it doesn't mean that you have to cut out 75 of your audience and only focus on one but what i do think it means is that you need to know what buckets exist in your audience and who you're speaking to and when and when you create solutions for problems who within that

audience are the people that you are speaking to that relate to this specific solution that you're building when you create a piece of content who specifically is this for and i want to end on a story about a piece of content that i had come out a number of years back that i thought was gonna bomb because i thought it was way too specific in episode 96 of the smart passive income podcast i interviewed a man named corey huff all about how artists can make money online and in my audience i didn't know any artists

that were in my audience but i heard that by niching down and creating content specific to a tiny group can be very very powerful so i said okay i'm going to experiment with this i found this person who was an expert because i'm not an artist myself so i didn't know how to solve this problem and i interviewed him i pulled out some really good answers about how any artist sculptor painter what have you can can make money online and this podcast which was so narrow was one of the most downloaded podcasts i had ever

made up to that point with over a hundred thousand downloads within six months because this thing went viral in the artist community the few artists who were in my audience benefited from it a lot of people in my audience who knew artists then shared it with them and then this started getting posted within the artist community and this episode went viral there the riches are in the niches my friends niches niches i know all right so i hope you enjoyed that video thank you so much make sure you hit that subscribe button below and the

bell notification icon because i'm going to continually come out with content for you to help make content creation easier more fun and profitable for you too thank you so much i appreciate you and i look forward to reading your comments let me know below which kind of niche are you in who is your demographic that you are targeting i'd love to give you a little bit of a chance to shout out a little bit about what you do or who you plan on targeting and then if you like this video hit me up with a

thumbs up thank you so much because that helps other people who could benefit from this video find it too and again thank you i appreciate you hit up that video if you want to check out something new and as always peace out and team flynn for the win