[OBO Digest] Niche, Smiche

Here’s the Right Question To Ask Yourself About Your Niche….

Online Business Owner • April 13, 2023

Have you ever made the mistake of thinking that "starting" something in your business was a one-time decision?

But once you created it, you found yourself stuck in a never ending process of redesigning it. Iterating on it. Upgrading it. Tweaking it. And let’s be honest…breaking it at times.

Today, we'll help you get clear on 3 ways to build the business you desire. We’ll show you how to focus on and attract only your best clients (and who want to pay you well for the results you deliver!)

And we’ll help debunk some common misconceptions in the industry, like:

• Why niching ⬇️ is really the secret to leveling ⬆️

• Powerful tools to accurately (and confidently) set your rates

• How to have intentional conversations that result in $$$

Hope you enjoy this week's Digest,

The Team at OnlineBusinessOwner.com

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Can Service Providers Really Find Riches 💰 In Niches? 

So many business owners are afraid to niche. Some unknowingly let scarcity dictate their actions. It shows up in thoughts like — "What if I say no to this client, and then I can't find another?" 

…while others swoop in as the hero — "I have the skills, knowledge and expertise, therefore I MUST help every single person I possibly can." The work or the client might not align….and yet they dive in without reservation anyways. 

See what funnel design & messaging expert Kate McKibbin recommends to ensure you find and commit to the right niche. If you want to go deep (and not wide) with your clients, this article is for you!

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How To Price Yourself Confidently & Competitively

Once your offer is dialed in where you know people want it and they get great results from it…. 

….arguably the most important question you can ask is: 

"What should I charge for it?"

Pricing strategy can make or break a business. 

And it changes depending on which stage your business is at. But no matter where you are at, there are some foundational things to address to ensure you nail it each step of the way. 

In-demand business coach Jason Moss shares 4 key mindset shifts to start charging your worth plus 4 powerful questions to help to solidify and articulate the value of your work to others. 

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IN THE KNOW

•  8 Reasons Why You Need A Niche (& 2 Reasons You Don’t) — Everyone preaches niches, niches, niches, but why? Here are 8 persuasive points on why narrowing your focus can massively benefit your business, and 2 scenarios when it might not.

• Make Decisions For Now, Not Forever — This entrepreneur and marketing expert has founded multiple successful companies since 2011. His secret? Niching down to not just improve business, but to fulfill his passions and build the life he wanted. 

• [Listen] The Not-So-Secret Secret To Improving Your Bottom Line — Disproving the common belief that more input — time, energy, money, etc. — always equals more output, this article offers seemingly counterintuitive strategies to increase your ROI without the extra effort.

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ONLINE BUSINESS OWNER: THE PODCAST

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YOUR WEEKLY KICK IN THE PANTS

@rocky_diehm

@nicholaskusmich

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THANKS FOR READING

Morale of the story? Sure, niching down can feel risky since you're targeting a smaller audience, but remember that doing so makes you a specialist. 

Not only are you better equipped to help your clients, but you'll start to get recognized as the person to solve that specific problem.

And just like your prices, nothing is set in stone. You can change your niche, your rates, your clients, or whatever else in your business if it doesn't feel right.

Focus on building a business that goes deeper instead of wider. 

If you're already niched, can you sub-niche? 

If you're already sub-niched, can you charge more and target the “top” of the market?

🔑 The key to designing a successful business?

      Get clear on how you uniquely help a specific audience

Thanks for reading,

The Team at OnlineBusinessOwner.com

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