How to Find a Niche and Make It Rich
I had no idea where to start when I finally committed to blogging and podcasting after years of sitting on the sideline. I knew I was ready but had so many questions. Where do I start? How do I monetize? What do I write about?
In addition to the valuable feedback I received, I walked away with a clear understanding that finding a niche and serving that niche extremely well was the best option for me.
Fast forward 9 weeks later (not a long time, I know), my podcast was on the “New & Noteworthy” section of iTunes for 8 consecutive weeks (second to only Tim Ferriss), I have over 700 email subscribers, and I can directly attribute $18,000 of revenue to my company since beginning.
At my former blog, Wealth Anatomy, I taught doctors how to navigate their personal finances. I didn’t write for Baby Boomers, I didn’t write for Gen X or Millennials, and I certainly didn’t write for anyone with a pulse. I wrote for doctors—that’s all!
Here are three activities that have worked for me:
Identify a Niche
The first step was to identify a niche that I could serve extremely well and one I would actually enjoy working with. Ask yourself who you already serve? Who do you already know? What hobbies do you have?
You’ll find that you already have a niche within your contacts. You just need to conscientiously identify them.
Survey Your Niche
How could I expect to serve doctors without identifying their financial frustrations and concerns? I used SurveyMonkey to survey the doctors that I already knew. I walked away with a vivid image of their goals, hopes, and desires. And I knew, based on their answers, that I had the information available to address their challenges.
Before jumping into a niche, ask yourself if you have the means, ability, and desire to address the topics you’ll learn about from your survey.
Reach Out to Other Bloggers/Podcasters
Next on my list was to identify other professionals that were already serving my niche. I initially reached out to other financial bloggers but quickly turned my attention to those that serve doctors in a different capacity than I was looking to provide. One resource, Ryan Gray with Medical School Headquarters, helps pre-med students get into medical school.
Get creative. The internet and social media sites have unlocked access to people who will collaborate with you in building an audience.
How do I have the audacity to name this article Find a Niche, Make it Rich after such a short amount of time? I am confident in the amount of success that I’ve had and the exponential growth that I’ve seen. This is only the beginning. And, the only regret I’ll have is that I should have started sooner.
Ryan Michler founded Wealth Anatomy with the goal of giving healthcare professionals access to the very best financial information available. You can find him blogging and podcasting at www.wealthanatomy.com where he shares ideas and insights into the unique financial planning challenges that doctors face.