How to make a list of your niche advantages

Making a list of your niche advantages

Lesson Details:
November 25, 2020

Video Transcription: A part of you getting into the right business niche and eventually getting into the right business aid yet is choosing advantages. This video is brought to you by Appy Pie Academy. that you can take with you to that idea so during the brainstorming which you want to come up with as many advantages almost make like a list that you can keep for reference and keep adding to that list as you think about it you know you're not gonna have to use all of them when you choose your niche but if you can leverage many of them that will help you along when you decide should you get into a niche should you stay out of it so typical things are your education work experience or skills these are hard things where you know you stand out from most people because you know more about some topic and you've done more work around some topic so anything like that takes first priority some of the coaching clients I talked to they tell me oh my god I hate my field of education and work experience I want to change and I want to get out of it so if that's the case for you you don't have to do this but if you can and if you don't mind staying in the same field it actually will make things a lot stronger for you if you want to do something else at least you should have a strong interest hobby or passion for that topic just because it will make the learning more fun and interesting for you and will keep you going also if you have money that you can get in some niche or access to resources like access to software access to advice that field in which you can do that like for example maybe your parents know about something maybe your siblings or some some extended family knows about something and you can leverage advice and connections of course that gives you an immediate advantage over everybody else starting that business so any kind of industry relationships that either you have now or you can get for example if you want to get into music and you live in Nashville which is like a Music Center that's amazing if you want to get into stand-up comedy and you live in Los Angeles or New York those are the two centers for it if you want to get into tech startups Silicon Valley or New York those are the two major hubs for it there is additional hubs but you see if you live in an area that you can either already have or create industry relationships that also will give you an advantage or if you can build a team that has skills beyond your own skills of course but you should have that team readily available and I want to go over a little bit of my example of how I go about this well I'm different than first time entrepreneurs because I've been in this for a while so I have some resources like I can hire I cannot hire like ten people at least not full-time but I can hire one or two people and a lot of freelancers I can spend money on promotion I have actually a broad understanding of businesses just because of business coaching and teaching so I have like a lot of these advantages so I can go broadly or at least more broadly than a lot of other people and I'm not saying this to show-off I'm just saying this to contrast if you're a first time entrepreneur should be a little more careful I can be more aggressive and go after bigger Nicias but if you are a first-time entrepreneur I would actually recommend you get into a smaller but manageable niche that you can dominate and when I say smaller I mean like pretty small as your first project so that you can succeed and it can be realistic and once you dominate a tiny area you can use that as a pedestal to grow out so you don't have to stay tiny you can grow out when I started out I I chose tiny tiny things but at least things that I could have reasonable success in so now try to make a list of what advantages can you bring to your niche and you're gonna be using that every time you come up with a niche or business idea you're gonna use that to evaluate like do I have a lot of natural advantages if yes that's a big plus for that idea or an issue.  

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