Discovering your niche can boost your side hustle success. Finding a niche for your business means discovering and delivering a great product or service for a targeted audience. Your niche can be a specific area of expertise or a product in high demand. Not sure what your niche is yet? Here are a few ideas to help you figure it out.
Assess Your Skills and Interests
Think about the skills and talents you possess that you would like to share with others. Create a list of passions, hobbies, and work-related tasks which you enjoy. For example, two of your passions might be woodworking and hiking while two of your skills could be writing and photography. Perhaps you could start a photography blog utilizing your writing and photography skills. Study your list to see where you might be able to carve out a niche. It might include one area of your interests or a combination of a few different interests and skills. Keep this list handy and add to it as you think of more skills and interests. Eventually you will have that “light bulb moment” and discover your niche. Don’t worry if you don’t feel like an expert in a particular area of your interest. Take the time to research, learn, and expand your skills in that area.
Once you have created a list of your skills and interests, the next step is to determine the demand. After all, in order for your business to be successful it must meet some type of need. Look at your list of skills and interests and ask yourself if there is a service or product you could offer that no one else does. Also, think about a service or product you have needed in the past. You could even extend this question to your friends, family, and on social media. If others need the same product or service you’ve discovered a need, an audience, and a niche.
Research the market to see if the idea you have for a product or service already exists. If it does, that’s okay. Simply tweak your idea to fit a different need. Using the example above, if you come across hundreds of photography blogs, consider drilling down your topic a bit further. Perhaps a photography blog that includes DIY woodworking instructions to make your own custom frames.
Consider Long-term Enjoyment
When determining your own niche, it’s important to consider topics, products, or services that you are passionate about and enjoy. That’s because you’re more likely to stick with your business plan long-term when you enjoy the work you are doing. Even when you struggle with obstacles, you’ll be less likely to quit when you are connected to your niche.
Enjoying your niche will make your work easier. You will be more creative and genuine, and it will be easier for you to establish your authority. Since you enjoy the topic, some of the work won’t feel so much like work. You’ll have more energy to devote to your business and your chances for success will be greater.
Once you’ve discovered a niche you’d like to pursue, it’s important you take action. It doesn’t matter how great your idea is if you never get around to executing it. Dive right in to your idea and don’t let fear stall your progress. Push through your feelings of fear by keeping your end goal in focus.
Discovering your niche will help you stand out, attract customers, and grow your side hustle. Once you find a niche you enjoy in an area with demand, you have set yourself up for long-term success and opportunity.