| For start-up and early stage small and home based | | | | expert. Or they may have two or three possible |
| business owners the pressure to nail down a lucrative | | | | niches they're interested in pursuing and not feel |
| niche and create multiple products and services is | | | | certain which to choose. I show them how to |
| anxiety producing. I see this with my small and solo | | | | measure the income potential of a niche and if they |
| business clients all the time. The truth is there's a fine | | | | are more or less equal, to choose one and try it. At |
| line between researching and weighing your options | | | | least they will be making progress and moving |
| so you can pick a niche that is lucrative (and also | | | | forward. |
| matches your passion and skill set), and being | | | | It's important to make a distinction between creating |
| indecisive to the point of paralysis. | | | | a detailed vision of what you want your business and |
| I teach people exactly how to identify the most | | | | income to look like and mapping it out, and not |
| profitable niche within the scope of what they can | | | | moving forward until it's all in place. The most |
| offer, because when you identify a great niche it will | | | | successful Entrepreneurs understand the importance |
| not be a struggle to find paying clients. I also stress | | | | of constantly taking action. The key is to not take |
| the importance of not trying to build a business | | | | impulsive, random action, but to take constant action |
| based on a single product or service but to develop a | | | | on a strategically, well thought out plan. Look at it |
| product funnel of multiple, related products and | | | | this way; if you take no action because you're |
| services that, over time, can create a healthy, | | | | waiting for the perfect niche and the perfect |
| steady income stream that is not totally dependent | | | | product, you'll have no sales. If you take some |
| on selling time for dollars. | | | | action, you'll start creating income and you'll learn |
| The problem occurs when someone starts to fear | | | | what works and what doesn't. |
| that if they don't nail down the perfect niche and | | | | If you talk to someone who is successful and they |
| complete the creation of everything in their product | | | | tell you they've had no failures, they're not being |
| funnel, they can't move forward. The truth is that | | | | totally truthful. I've had failures. I could write a book |
| you may not be clear on your exact niche | | | | on the failed ideas I've had. I even had one business |
| immediately. You may just have to start from where | | | | in which I was a partner that failed. And I became |
| you are and try a few things out, like you'd do if you | | | | more powerful and knowledgeable with each failure. I |
| were shopping for clothes or shoes. After a while | | | | just felt briefly disappointed, learned and moved on. |
| people will tell you what they need and are willing to | | | | You have a reservoir of courage that you need to |
| pay you for. But if you never even start marketing | | | | draw on to push you past being indecisive. Being |
| your services; if you are stuck in perfectionism, you | | | | indecisive is a symptom of being scared that you'll |
| won't make any progress at all. | | | | make a mistake or ruin your reputation or get no |
| This is true when it comes to creating a product | | | | sales. You may make a mistake and you may get no |
| funnel as well. You may really get the importance of | | | | sales, but you won't ruin your reputation and you will |
| developing a business model that provides you with | | | | only be much better off than you are if you spend |
| multiple streams of income and that will provide your | | | | your time researching and agonizing over the right |
| clients with many ways to buy from you again and | | | | road to take. So have the courage to act even |
| again, but you don't have to develop all of those | | | | though you're scared. That's really the key. And if |
| products before you look for clients. Its okay to list | | | | something doesn't work, have the courage to change |
| them on your website and then develop them as the | | | | direction. |
| need arises. Or just list a few on your website and | | | | So right now, decide what you will start offering the |
| know that your intention is to add more as you | | | | world tomorrow. Take action; tell people about what |
| move forward. | | | | you do. Ask their opinion about how you could best |
| Here's an example. I've coached a number of life | | | | help them. Do surveys using Twitter, Facebook or |
| coaches who know they need to specialize. Yet they | | | | and start offering your services. Remember that |
| fear choosing a niche because that may mean that | | | | everything doesn't have to be perfect-just good |
| they are walking away from potential clients in | | | | enough to help potential clients who need what you |
| another niche, when the truth is that the more | | | | have to offer. |
| specialized you are, the more you're perceived as an | | | | |