How can you identify a niche market for your consulting start-up?

Here's a simple outline to follow: 👇🏼 1. Identify Your Strengths: What are you best at? Ponder things that seem naturally easy to you. You want what feels like work to others, to feel like play for you. 2. Spot the Gap: Start with a popular idea like "Selling Candy". Then start narrowing it down. Candy > Chocolate > Fudge > Milk Chocolate Fudge > Milk Chocolate Fudge with Almonds. Now that you are specific, find ways to be the best in this area. 3. Tailor Your Services: The key is to start. Take what you think works in the beginning and keep perfecting it until it's where you want to be. if you don't start it's hard to get this feedback.

Become a category of one. Be the voice that can articulate your client's pain point better than they can. If you can articulate it well, clients will come to believe you know their pain and situation and come to you. This starts with empathy and connectivity with your client. Based on your own experiences, strengths and passions. Leverage what makes you unique, and what makes you the right person and team to solve your client's problems. If you are going to focus on a key area, it should be an area you are unreasonably passionate and interested in. This passion and focus will shine through, and make you the obvious person to help their client when they feel the exact same pain point you describe.

Search for blue oceans of opportunity. Markets adjacent to existing markets, and problems with lots of interest, but bringing your own unique skills and niche to the accepted category. Digital Transformation, but focused on positive Psychology, for example. These intersections create new space, where you can judge the level of proven client interest in the vicinity, and also differentiated to the existing players. This then stands you apart, giving you a unique and focused voice and proposition for clients. If there is interest in your components, then they will consider your combination as a possible better offer.

It all comes down to your clients in the end. Does your solution and positioning speak to them, and does it give them value. Validate this early. Clear is better than clever. Offer to help, listen, ask them. Start and gather feedback and insight. The best ideas still have to meet the road, and we have to focus on what customer's want. Get out there and give away your services to start with if needed, to get validation. And if you get product market fit, make sure you ask for a testimonial!

To thrive in a niche, you need to become known as an expert or authority in your space. This requires demonstration of your domain knowledge, and the value and solutions you offer. Which usually requires communication. Speaking at events, conferences and teaching are great public social proof of your authority. As well as creating your own content. Books, articles, podcasts, videos, and social media content. These are powerful ways to spread your message widely and gather a following of interest in your niche. Think of your messages as hooks for the pain points you solve, and your communication as a way to fish for those in need of your solutions.