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Discovering Big Niches

The next article features a business transcript from Clay Clark, US Small Business Association Entrepreneur of the Year, talking about finding a niche for your product or service on Thrive15.com, one of the best business schools in Michigan. 

Clay Clark:      Hey now. My name is Clay Clark. I'm the CEO of Thrive15.com. Today I'm going to be teaching you specifically how to find the right business niche that can help you achieve your big business goals. If you've ever felt like I want to start a business; I want to start a company; I want to get started, I just don't know what kind of company I want to start, you're not alone. In fact, a lot of people don't know where to start.

                        We're going to teach you the art of the start. We're going to teach you how to find that niche so you can scratch it. We're going to teach you specifically how to find a niche that you can solve, a problem that you can solve in the marketplace. You can charge customers to solve that problem and get paid for it. Today, if you've ever felt stuck and you don't know where to start, this episode is for you.

                        Today, we're talking about start up, but specifically, we're talking about discovering your big niche that'll help you achieve your big dreams. We're trying to help you discover your big niche. Some people call it a niche, your big "nitch" that will help you achieve your dreams. What is a niche? It's where you fit in, your specialty, your thing you're going to do, where you fit in the world and in your own little specialty that you can do to make some money there.

                        Step 1 here to discover your big niche that will help you achieve your big dreams is we have to define our goals, okay? We have to define our goals. I want to make sure that everybody who's watching this, that you do this. If you need to pause it right now and do this, that's fine, but you have to do it, okay? What you have to do is you have to 1) define your spirit goals, your mind, your body, your relationships, and your final one, your finances. You have to do it. If you do not have these goals written down, I promise you, you will not achieve them.

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                        If you don't have these goal written down, you cannot achieve them. You have to write them down. You have to write them down whatever you're doing, please write them down. Spiritual goal, and I'm going to give you a time limit. One year from now where do you want to be with your spiritual life? Mind, these are actual skills. One year from now, where do you want to be with your skills one year from now?

                        Body, in terms of your fitness, your physical fitness, where do you want to be one year from now? In terms of your relationships, maybe you have a brother you haven't talked to or you have a girlfriend you want to marry, or maybe you have a dude you want to get closer to, or you have a partner you want to meet, or a mentor you want to get to know. In relationships, where do you want to be one year from now?

                        Financially, where do you want to be one year from now? One year. You have to define those goals. That is absolutely important. Now, why is it so important that we do that? Somebody's watching right now saying, "I just don't know what my goals are right now. I don't know." This is the thing. You have to have some sort of goal because step number 2 in our system here is you have to put a price on it. As you ask yourself, what does it cost for you to achieve that goal?

                        What does it cost for you? Now, you say relationships, I can't put a price on that. I think you can. Going out to coffee, going out to eat, maybe taking your girlfriend on a date, maybe paying for the wedding, paying for a vacation, maybe taking your kids to the pool, maybe taking your kids to a country club, maybe taking your kids to a movie, maybe taking your kids to a park, maybe taking your kids to ... I have 5 kids, so I'm thinking about a lot of kid things.

                        Maybe you're single, maybe it's just taking someone out to eat, meeting people. Maybe it's having an apartment; I don't know. It costs you money. It costs you money to stay in shape. What does it cost to go to the gym? What does it cost for supplements? What does it cost for a trainer? What does it cost to be in a class? What does it cost? What does it cost? Things on the planet Earth costs what? Money. Mind, skills, is it healthy to go to a workshop? Yes.

                        Does it make sense to pay $1,000 to go to a workshop? Let's say you're a sign printer; you're in the printing industry or you're an insurance sales person. Should you pay to go to a seminar occasionally to learn some new skills? Yes. In certain professions, does it make sense to go back to college? Yes. Does it make sense to get certain certifications? Does it cost money? Yes. Spiritually, some of you guys go to a church where you tithe. You give 10% of what you earn. Some of you have a faith where you give back.

                        Some of you want to travel to a place on a spiritual journey, but what does it cost? That is the question is what does it cost? Step 1, you have to define your goals and then 2) you have to ask yourself what does it cost. As we move on, phase number 3, okay. Step 1 is to define those goals, right? Step 2 is to ask yourself what does that cost?

 

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