Imperfect Action Un-Niching Your Business: Should you ever go broader in your business? And how to know when it’s time to do that
Jun 18, 2023
12:41
Is it really true that the riches are in the niches—and that the smaller the niche, the better? There may be times when your business could benefit from accessing a larger niche. So, in today's episode, I am sharing how you can know that it's time to go broader in your business.
- The importance of understanding your total addressable market and where you business is positioned within that.
- Why having a bigger market is not necessarily better (unless your business outgrows a smaller niche).
- How having a really specific niche to start with can help you to make those initial waves.
- Why your niche *will* inevitably change over time and how to navigate that.
- The relevance of market demand and its role in expanding your niche.
- How un-niching your "who" (upstream, downstream and horizontally) as well as what you sell can help you to serve a broader audience.
SHOW LINKS:
- Episode 642: Choosing the right niche for your online business (+ 5 signs you might be in the wrong one). DM "642" on Instagram @stephtaylor.co and I'll send you the direct link.
- Get my Daily Biz Booster emails: https://stephtaylor.co/DBB
- 5 Simple Tweaks to Boost Your Launch Profits: https://stephtaylor.co/tweaks
- Want me to spend a day working on your next launch? Book a VIP intensive: https://stephtaylor.co/vip
- Get The A-Z Podcast Launch Plan: https://stephtaylor.co/plp-ig
- Get a 30-day free trial of Kajabi: https://stephtaylor.co/kajabi
Let's be Instagram friends: https://instagram.com/stephtay...
- The importance of understanding your total addressable market and where you business is positioned within that.
- Why having a bigger market is not necessarily better (unless your business outgrows a smaller niche).
- How having a really specific niche to start with can help you to make those initial waves.
- Why your niche *will* inevitably change over time and how to navigate that.
- The relevance of market demand and its role in expanding your niche.
- How un-niching your "who" (upstream, downstream and horizontally) as well as what you sell can help you to serve a broader audience.
SHOW LINKS:
- Episode 642: Choosing the right niche for your online business (+ 5 signs you might be in the wrong one). DM "642" on Instagram @stephtaylor.co and I'll send you the direct link.
- Get my Daily Biz Booster emails: https://stephtaylor.co/DBB
- 5 Simple Tweaks to Boost Your Launch Profits: https://stephtaylor.co/tweaks
- Want me to spend a day working on your next launch? Book a VIP intensive: https://stephtaylor.co/vip
- Get The A-Z Podcast Launch Plan: https://stephtaylor.co/plp-ig
- Get a 30-day free trial of Kajabi: https://stephtaylor.co/kajabi
Let's be Instagram friends: https://instagram.com/stephtay...