When doing a VIP Day with a new business client recently, she asked the million-dollar question–one that will impact the success of her start-up business at the very core:
How do I choose a niche market that will be right for me?
If you don't get this right, it can cost you a lot of time, sleep, stress and money. Which is why I focus a good deal of time and teaching on this topic with all my clients (even established ones if they are struggling to make a profit).
Aside from finding a market you can be passionate about helping and have the proven ability to help them, there are 6 criteria we look at that must be met in order to have a "viable niche." If any one of them is missing, you must change the niche. (And make sure you understand what a "niche" is in the first place)