How To Choose A Fun And Profitable Niche

Mar 31, 2020

SUMMARY

“When you think about choosing a fun and profitable niche, remember that what you’re really doing is finding an industry that needs the services that you’re offering.”

  • Ever wondered what industry you should write for? Learn in this video how to quickly identify the niche that’s right for you in your writing career. 
  • Discover what factors contribute to a really profitable niche… and how to know if your niche is really worth your while. 
  • Watch the video to get the full training. 
  • “When we choose a specific group of people to offer our writing services to, then we have a much higher chance of getting them to say yes because we understand their jargon.”

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INSPIRATIONAL QUOTES

TRANSCRIPT

How do you choose a fun and profitable niche? And do you even need to choose a niche at all? 

Over the next couple of minutes, I’m going to give you an exact framework for choosing a niche, and I’m gonna give you three specific guiding principles here that you’ve probably never heard before in relation to choosing a niche and making great money as a writer. 

And I’m going to share these with you. In fact, I’ll probably share these with you first, and then we’ll get into the exact framework in how you make the selection. 

But first, let’s back up for just a minute and let’s talk about: Should you choose a niche? 

Well, my name is Joshua Boswell and I’m the founder of Copywriter Marketer. 

I’ve worked with thousands of writers. I’ve been asked this question just literally thousands of times over almost two decades of working with writers just like you. 

And what I’ve noticed is that a lot of people don’t want to choose a niche because they feel like they’re going to be locked in. 

Have you ever felt that way? You’re like, “Oh if I choose this option, it’s going to restrict me from this option over here.” And let me just tell you that that’s actually not the case. 

The more specific you get, the easier it is to market yourself. So you don’t have to choose a niche. You can certainly be a generalist. You can write white papers and you can write newsletters and you can write emails and you can write for the health industry and you can write for the auto industry and you can do a lot of different kinds of things. 

But just know that simplicity, like the simplest path for you to take, is to pick a target audience. Just like when we’re writing a letter or writing an article, don’t we want to pick a target audience? Don’t we want to have somebody that we’re having this conversation with? 

We’ve heard it said that the best marketing is a one on one conversation with another human being. And this holds true inside of our marketing. 

When we choose a specific group of people to contact or a specific group of people to offer our writing services to, then we have a much higher chance of getting them to say yes because we understand their jargon. We know their pain points, we know their goals, their needs, we know what they’re trying to do. We know the kinds of writing that they’re doing. We can specialize in on that group of people and then we can offer our services to them and be highly persuasive. 

Now the thing about it is over the years you might get better at or you might learn one group and then you might learn another group. 

You might learn another group and so it’s fine, you can just like… I’ve worked in all kinds of different industries so you’re never going to stay in one specific, you’re not locked into one specific niche. 

It just helps you start making money and getting clients faster than if you were trying to work with lots and lots and lots of different industries, different niches, different writing styles, different jargon, different pain points, different selling points, all those kinds of things. Just centralize your efforts so that they can be as high leverage and effective as possible and dig right in. Okay? 

Now I want to start off with another idea about why a niche is so very, very important and why you should take time to go through this little exercise that I’m going to share with you and choose a fun and profitable niche. 

And it began when a good friend of mine, also a writer and one of my students came to me and said, “Joshua–” we’re gonna call her Julie just for sake of the conversation, it’s not her real name, but we’ll call her Julie. 

And Julie came to me and said, “Joshua, I think you lied to me.” I said, “What do you mean I lied to you?” She says, “Well, you told me that if I did this step and this step and this step, then I would start getting clients and then I can have a great business and I could make a bunch of money as a writer and I could live a fabulous lifestyle.” 

I’m like, “Well, yeah, I did say that to you because lots of other people–” Then she said, “Well, I walked through every single one of those steps and I haven’t gotten any clients yet. What’s the deal?” I was like, “Whoa, I don’t know what the deal is. Let’s take a look at it.” And so we looked and, I said, “Well, show me the stuff you’re doing.” 

And so she showed me the contents that she was posting. She showed me her LinkedIn profile, showed me her website, showed me all the things. 

And as I started looking at that, I noticed that there was something going on. The first thing I noticed, she was doing all the right steps. She was just like, her website looked great, her LinkedIn profile is great. She was producing really great content. I mean, she was doing really good stuff and I was like, “Wow, it does look good. Your writing is good, everything is great.” 

But I immediately saw the problem and the problem was that… I said, “Well, tell me about this niche that you’ve selected.” She said, “Well, I love horses, I love horses. And so I chose Equestrian Nutritionals and tack and resources and supplies.” I said, “I love that you love this industry and this niche. I think that’s really, really wonderful. Let’s just look at a couple of these websites for a little bit. Can you remind me what did you say you wanted?” And she was, “I want to write long copy sales letters and newsletters and social media content.” 

I said, “That is great. Now let’s do a little research and find out what’s going on inside the equestrian market to see what kind of stuff they’re using.” 

And so we did that. We went and we looked at a couple of pages and I said, “Julie, what do you notice on these pages?” And she said, “Well, they’ve got a lot of stuff.” And I said, “Well, are any of them using long copy sales letters or videos or social media or newsletters to sell their stuff?” She goes, “No, I guess they’re not.” And I said, “Well, I think I know why you’re having a struggle. And it’s because you’re doing all the right stuff in all the wrong places.” 

Have you ever felt like this? I felt like this before, it was like I was doing everything I knew how to do, but it was like my ladder of success was leaned up against completely and totally the wrong wall. 

I want to save you that pain, so I’m going to give you a framework and some key principles that will save you from leaning that ladder of success up against the wrong wall – from putting all of your best time and effort and energy into a market that’s never really going to give you a good return on your investment. It’s never really going to pay you or hire you to do a bunch of writing for them. 

I want to save you that agony so that you have a great foundation and you can get started right away connecting with good clients who are willing and able to pay. 

So, I’m not gonna get into the definition of a niche right now. We can cover that another time. 

Let’s just look at the model for selecting a good, profitable niche and then we can look at some of the other things a little bit later. 

So the first key principle that I want you to recognize here is as you look at a niche and fun and profitable niche, recognize this little saying right here that is: Like Attracts Like. Like attracts like. 

And what I mean by that is, I mean this, that if you are excited about writing sales letters, then you should find people who are excited about using sales letters – like will attract like. 

If you want to be respected as a writer, then find companies who already use and respect writers. If you want to be paid really well as a writer, well then find companies that are already paying writers really well. 

I see this mistake all the time where writers look at a given industry, and this is what my friend Julie said to me, she said, “Yeah, but I know they didn’t use a lot of long copy sales letters, but I figured they could use them and if I wrote a great letter for this saddle or for this supplement or this feed or for this, whatever it was, then it would sell so much better. I just was sure that it would sell much better.” 

Which maybe it would. But the fact is the industry is not already using that. And so in this case, like, you know, attracted like and so she was not in the right space. She was trying to sell something that they weren’t buying. 

So the first principle that I want you to remember is that – like attracts like. And so whatever it is that you want to have, look for that. 

Now let’s just cover… I got an email the other day from a guy, and he said to me, he said: “This industry is totally cutthroat like, and I don’t have the right experience, I don’t have the right credentials and I don’t have this and that.” He says, “This is like super cutthroat industry.” 

And I said, “Well, you know, I’ve never really looked at it like that.” I think that competition is a really good thing because if I go to a company that’s using a whole bunch of writers and paying them, then it’s likely because like attracts like, it’s likely that they’re going to in the future hire new writers and additional writers and they’re going to do more things along the lines of what they’re already doing. Because like attracts like. 

So competition never scares me or makes me nervous. All I know is that I have to just promote myself better than the next guy, which is actually pretty easy when you have the right systems. So like attracts like. 

 

Number two, money is just stored value. Money is just stored value. So when you think about choosing a fun and profitable niche, remember that what you’re really doing is you’re finding an industry who needs the services that you’re offering. 

Where can you bring value to the marketplace? How can you help them achieve their goals and their dreams? How can you be of service to them? How can you increase response rates, increase likes, increase social media content, increase people contacting their sales team and contacting their customer support? 

Like how can you increase and bring greater value? Because money is just a stored value. And so if you give them value, they’re going to give you value back in the form of money. 

And so as you’re thinking about, “Well, gosh, where could I make a whole bunch of money and be super profitable?” Well, instead of thinking about where can you get people to hire you, think where can I exchange value with them? Where can I help them to achieve their goals and their dreams? 

Money is stored value. So when you’re looking at it in a fun and profitable niche, think about where you can bring value to the table and then you’ll get value in exchange, in the form of money and then it will be profitable for you. Okay? 

Number three key principle here. The number one buying emotion… Now let me just pause before I give you the answer here. The buying emotions are like all of the – you know that we all make decisions based on emotions, right? No human being makes their initial decision on logic. Never, ever has that happened. 

We all make emotional decisions and then we back that up. We strengthen that argument. We justify that argument with logic, stats, facts, and figures. So when you’re thinking about getting hired as a writer and jumping into a fun and profitable niche, wouldn’t it be important to know what the number one buying emotion is for marketing directors, for business owners, for people that are hiring writers? I think that’d be super valuable for you. 

I gotta tell you this is the number one buying emotion for all human beings, but particularly it’s very important and relevant to recognize that this is very, very powerful inside of marketing directors and people that are hiring writers. So what is it? 

The number one buying emotion is – significance. It’s not greed. It’s not lust. It’s not power. It’s not wealth, it’s not anything. It’s significance. 

We seek after greed, lust, power, wealth, and all those other kinds of emotions… so we can feel significant. So we can feel like we’re important. We want money so that we can have status, we want love so that we can have a connection. 

But all of it, it just serves the underlying emotion of having us to feel important and connected and significant in this world of ours. And so the number one buying emotion is significance. 

So why is that important to choosing your fun and profitable niche? Well, it’s important because, because when you’re talking to marketing directors when you’re looking at where you can connect and where you can write, you’ve got to think, “Huh, the skills, the abilities, the talents, the insights, the perspectives that I bring to the table, can I use those? Can I talk to the marketing director? Can I engage with those people? Can I write emails in a way that at the end of the day helps them to feel significant, that they’re important, that I respect them and that I’m here to help them achieve their goals?” 

And as they achieve their goals, they’re going to be more important in the eyes of their industry or their peer group or their boss or whatever it is. Like, where can I bring significance to their life through my writing, through my offerings, through what I’m going to do for them? 

This is the number one reason. If you can help people to feel important and significant and loved and encouraged and like they are, “Wow, the cat’s meow,” as my mom used to say. If you can help them feel that, I’m telling you, you’ll get hired all day long. 

Now, these are the three key principles that I want to share with you in relation to a fun and profitable niche. But how do you actually go through and make that decision? What are the key factors that you’ll look at? 

And that’s where I want to talk about this niche selection framework. And so if you want to grab a piece of paper and follow along with me and do this, otherwise set aside some time and do this later. 

Just sit down and walk through these three ideas and ask yourself questions about them. Jot down some notes and see where they converge. Then you’ll know where a great and profitable industry and niche is for you.

So the very first one that I want to talk about is this one right here. This circle right here, and this says – seek clarity on your ______ . 

This is the first place to start, this is where you need to begin the conversation. Don’t think about who you’re going to write for, what industry are you going to write or what your financial– Don’t think about any of that ’til you have clarity on this so that seek clarity on your what? And that’s – lifestyle. Seek clarity on your lifestyle. 

I meet so many writers who jump in and they start writing for a client and then they realize it takes too much time. It’s out of their wheelhouse. They don’t feel comfortable with it. Maybe there are moral or ethical conflicts there. It doesn’t match up with their schedule about what they want to do with their lives and how much time. The time-to-work ratio that they want to have, like things are out of place because they didn’t begin by saying, “Hmm, this is the lifestyle that I want. This is how many hours I want to work in a week. This is the kind of house I want to live in. These are the kinds of associates I want to have. This is the kind of person that I want to be. This is the joy and the fulfillment-levels that I want to have.” 

And they have clarity or not clarity on their lifestyle. This is the foundational thing. And if you get this wrong, then the rest of it doesn’t really make sense. Then it doesn’t matter how much money you make or where you go or what you do, that’ll be kind of off-kilter. And so get this right, right away. 

So sit down and ask yourself, what do I want my lifestyle to be like? And when you’ve decided on what that is, then you can go to the next question. And that is this – recognize your strengths. 

So, sit down and make a list of all of your strengths. And I put “recognize” here because you know what – I see it as a huge challenge with a lot of writers and maybe you, I don’t know. It is for me. And that is acknowledging what I actually do well and celebrating my strengths and cheering myself on and looking and saying, “Wow, you’re really good at emails. You’re great at videos, you’re great at this.” 

I know years ago I sat down with a mastermind group and I was really excited about all this cool writing stuff that I had done and all these campaigns that I won. I said, “Hey, tell me a little bit about my strengths.” 

I was getting some clarity on this key point right here, and we went around the table. There were about six people sitting at the table and all of them were like, “Oh, you know what you’re really good at is speaking and presenting and teaching,” and I was like, “Oh, I thought you were going to say writing.” Like, “Oh, well you’re an okay writer, but you’re a really good speaker.” And I was like, “Oh, I better think about how I can maximize that and be of service to people with that strength.” That’s why I’m talking to you right now is because of that conversation. 

So you need to recognize your strengths. Always come from a position of your strengths. What do you write well, what comes naturally to you? What industries do you connect with? What other people do you really understand at a key level? What are the different strengths in terms of your writing, your people skills, your financial money management, your time management?

Like, just get a big list of all of your significant strengths and just be aware of what those are. Recognize what those strengths are. There’ll be super important in choosing and finding a profitable niche. 

The last circle that I’ve got here is this. Identify the market needs. Identify the market needs. Now here’s the thing – when you look at your strengths or your lifestyle and then you look at your strengths and then you look at the market needs, then you go out and you say, “Well, what kinds of industries have a need for my strengths and will be able to facilitate my lifestyle?” 

And when you see these three things converge right in this area right here, you’ll start to see that this right here is your best fun and profitable niche, right? 

That’s the section where your fun and profitable niche lies. So, for example, let’s just say I was going to… I wanted to have a lifestyle where I could travel a lot and where I could spend a lot of time with my family and make a lot of money. Let’s say that I wanted to make a half a million dollars a year as a writer. Well, then I could look at different options that are out there and say, “Huh, well, could I write for the nonprofit industry?” 

It would be hard because the nonprofit industry tends to pay a little bit lower. For example, I once got paid, oh, $2,000 to write a fundraising letter and the same month I got paid $10,000 to write a sales letter and they were about the same length, same research, same work. I just got 10,000 for one and 2,000 for another. 

So in that nonprofit industry, I could make six figures, like I could make 100,000 there, but half a million, that would be harder. And so immediately my lifestyle of choice starts to eliminate different niches. See that? Let’s look at strengths. Now, one of my strengths is short messaging, short emails. So if I said, well, I only want to write for industries that write long copy sales letters, I’m not catering to my strengths as much as I could. 

And technical data stuff is not a strength of mine. So would I write technical sheets or B2B data type stuff, that was very analytical and meticulous? No, I wouldn’t. 

So that would eliminate a niche right there as well as identifying market needs. And I could see, well, who needs… like if I’m really good at email, who needs email? If I’m good at social media, who needs email? And I could look at these different industries. 

Like my friend Julie, she had strength in a long copy sales letter, but she wanted to write for the equestrian industry, which doesn’t use, they don’t have that need. And so that immediately eliminated that. 

So as you look at these three categories, it starts to get really clear, a lot clearer as to what this is and where this can be at. 

So, my challenge to you today is to sit down and look at these three things and just ask yourself, “Hmm, what kind of lifestyle do I want? What are some of my strengths?” And if you have to ask some people as I did, that’s totally cool. 

And if you want to… and then what are some different needs of the industry? What kind of writing do they use? What kind of things are they promoting? Where are they at? And get really specific about this, about different industries or different markets that you’re thinking about writing for and just identify – do they have needs? And do those needs align with my strengths and my lifestyle? 

This will help you in a very short order, filter out a whole bunch of niches that won’t really work for you and putting niches in your life that really will work for you and will achieve your end lifestyle goals and objectives, which of course is why we’re doing all this, not just to make money, not just to have clients but to have a great lifestyle. Cool? All right. 

Thanks for listening. I’ll talk to you soon. Bye now.

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