Welcome to another episode of Explode Your Expert Biz Show, brought to you by http://gtex.org.uk/,
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In this episode, we talk about:
- How to find your most profitable niche with the H.E.R.O. model
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Hey ladies and gentlemen, welcome to another episode of Explode Your Expert Biz Show. And today, we are talking about how to find your highest profitable niche or your most profitable niche.
I’m going to explain how the H.E.R.O. Model works. I’m going to walk you through that so then you can immediately identify if your current niche is the most profitable one or, for example, if you’re not attracting the clients that you want to attract, why is that?
Maybe you’re just focusing on the wrong niche and this happens so many times. This happens so many times in particular in any industry. And the reason why this happens is because a lot of people they just go with what they think people will buy instead of really understanding why people buy and what people are looking for. So that’s what I’m going to discuss today and that’s what we are going to talk about in this particular live.
If you are watching the recording or if you are listening to the recording on the podcast, then thank you very much for listening on the show. Really great, really great to have you here.
So, what’s the main problem about finding the right niche? Because a lot of people come to me and say when we start working together and they are like, “Oh Simone, I am confused right now. “I don’t know what niche I can go in.”
And the fact that they haven’t really spent time, as I mentioned, understanding why people buy, what people are really looking for. So, let’s flip it. Let’s reverse it, right?
So, let’s say that you are now looking to hire your coach or your mentor. What kind of things are you looking for in your coach or your mentor? Because if you think from your client perspective then you can say am I giving people what they want? Am I doing the right offering? Am I positioning myself in the right way?
So, if you think about, okay, you’re looking for a coach, you’re looking for a consultant, you’re looking for someone to mentor you. What are you looking for?
Well, number one you might be looking for someone that has a passion on what they do. Maybe you’re looking at their videos, you’re looking at their content, and now they come across as someone that really don’t give a damn about what they do, they just do it because they have to. They just do it because of money.
They just do it because a bunch of different reasons. But you don’t feel when you talk to them, you don’t feel when see their videos, or when you listen to their podcast, you don’t feel their passion. Something that they actually really love. What do you do? Would you work with that person? Very unlikely, right?
We are attracted to people that emanate this energy, this passion for what they do and that’s what creates that attraction. I’m not saying that they have to be over the top or they have to be loud, and big, and bold like sometimes I am or crazy Italians.
But at the same time, you can feel by the way they talk, you can see by the effort they put into the content that they create, if their heart is in it. So, make sure that you find, in your business, if you’re looking at the one thing, to do your most perfect niche, you most profitable niche, is something that you absolutely love.
People that you absolutely love working with. A cause that you absolutely support. Now, there are some people that come to me and say, “Oh Simone, I want to go into the corporate sector.” And they hate the corporate field, so how can you be passionate about a field that you hate?
Now, what you’re then becoming passionate about is become passionate about the money. And then, guess what? If you’re only passionate about the money, you’re going to have a very, very, very short lifespan in your business because everything is difficult, everything takes time, everything requires effort, everything requires a level of commitment, and if your heart is not in there then the moment you find you go through the first challenge, the second challenge, and third challenge, by the fourth and fifth they already knocked you down.
You’ve already quit. And so, find a category of people that you’re really passionate about working with, so that’s number one. Then, now let’s say that you are still looking for your coach, you’re looking for your mentor, and you’ve found people that have their passion, their heart in it. They love what they do.
They put their heart and soul into their products, into their services. Awesome, but now what you’re looking for after you find a heart, which is the first letter of the H.E.R.O. Model, H.
Then you’re looking for E, which is experience. Now, I want to find someone, if I’m looking for someone to mentor me, I want to find someone who has experience in what they say they can mentor me. I don’t want to find someone who started yesterday. I don’t want to find someone with a limited experience.
And the reason why I don’t want to find that person it is because if they don’t have experience in that field, whether they’ve done it themself, whether they done it for a number of years for a lot of people, if they don’t have that experience how in the heck they gonna understand what I am going through?
How the heck are they gonna understand the pitfalls that I can find? How in the heck are they gonna understand the best strategies? The great thing that you’re looking for in a coach, in a mentor, is not just someone that can ask a bunch of questions. Like the purist form of coaching, ask questions, you can coach everyone, is just one part of it.
What people are looking for are results. And if you don’t know that field of expertise and you don’t have experience in that field, then I want to buy from you, and I’m looking for a coach, I’m looking for a mentor, and I see that you don’t have any experience doing that, what are the chances that I’m going to hire you?
I might be willing to give it a go if you do some work for me for free, just so you can get your experience up. I might do that, I might be willing to be a case study for you to build your experience, but I ain’t gonna pay you. That’s your part of the development.
And that’s why the second thing you are looking for after the passion is something that you have experience on. Something that if someone asked you, what experience do you have in this field? You can open your books.
Now, the downside is maybe you are, I started my business when I was 22. So, as you can imagine a 22 year-old they don’t have much experience.
And maybe there are other people that are younger that are saying, well, but I don’t have a lot of experience in the field that I want to be in. Well that means that now your number one priority if you want to build in that field is to build that experience.
So, going in with that unrealistic expectation of charging a lot of money for something that you don’t have experience on, now you’re setting yourself up for big disappointment. And also, you’re setting up your clients for failure because you will not be as effective as someone with experience.
So now your priority is looking at the long term, I want to be in this field. Great, what experience do I need to get? What relevant experience can I get to then become valuable in this marketplace? When I started my first business, I didn’t do business mentoring first.
We went into business mentoring after five years we were in business. Why is that? Because we knew that we wanted to walk our talk. And the moment you walk your talk there is nothing in you that says, oh, well am I good enough for this? You know, we’re talking about imposter syndrome.
Am I gonna be good enough to deliver this? Having doubt is human, is normal. But a lot of times, the imposter syndrome of I’m not good enough for this comes because sometimes we are aiming too high and we are not looking at what actually is the things that we are really good at.
Because if there is something you’re really good at, you have experience in, then where does the self-doubt come in, right?
And of course, there might be self-doubt because you know that field but you have not worked with clients first. That’s fine, build that experience, and build that confidence so then you can charge the higher fees.
Give me a whoop, whoop if that makes sense. Let me know also if you have any question because we’ve covered the first two letters. H which is the heart, and then the second to find your most profitable niche is the E, which is the experience.
But now, you’re looking for a mentor, you’re looking for a coach, you’re looking for someone to help you. You find someone that has the passion. You find someone that has the experience.
Now, the other things that you are looking for, say okay, what results did you have? Now, a lot of people, some people might ask you that question directly. Other people actually not ask you that question directly but check out the results that you had.
Because results speak louder than words. You can say I had 15 years experience in this field, I have worked with hundreds of clients, but the moment you don’t show the results then everything else gets questioned. So now I want to know what tangible results did you get for people.
And that’s why the R of the H.E.R.O. Model stands for results. And where you’re going to showcase, and you’re going to think about what kind of results I know I am confident I can give people based on my track record, based on the results that I gave in the past.
Then what kind of results I’m confident I can give people. Because if you’re confident you can provide a certain type of result, if you’re confident in that, then confidence will come across in a sales conversation, then confidence will come across in a marketing message, then confidence will come across in the delivery of your product or service.
We’re not talking here about being cocky or being arrogant. We’re not talking about being, say oh, look at me how great I am. No, I’m not talking about that. What I’m talking about is giving people what they want and people want to know what you’re able to give them.
That’s what people want. And so, it’s important that you understand it first, and you tell people these are the results that I can get. And so, when you’re identifying, now putting things back together, now you are identifying your niche and you’re thinking about okay, what is something that I’m really passionate about?
What is something I have experience on? What is something that I know I can provide results and I’ve got a track record? And for example, when we started our first type of business mentoring that we did was helping people starting and creating their product or services.
Now, I didn’t start a business mentoring saying to people, I can get you to six figures or multiple six figures, or seven figures. No, we didn’t start in that way. When we started, we started with purpose because it’s something that we’re really good at, I was trained on. It’s something that became natural almost to me by following in my path.
And it became natural to find other peoples’ path in life. And we started running trainings, we started running seminars to teach people this framework. And then people started asking us once they saw the results that our business was getting, how do you start? How do you get started?
So we started, we have a certain level of success, so now we can start mentoring some people to build our repertoire of results, and confidence, and so on. We started taking a few clients in business side. And then the more results we’re having on the business side then the focus swapped on business.
But we didn’t do it from the get-go. We made sure that we were able to walk our talk first and then we were able also to give results to other. And then, when we started going out there and saying okay, this is what we’re great at, this is what we have done.
This is for ourself, this is what we have done for other people, this is the results that you can expect if you work with us. And so, it’s important to look at what results are you confident you can provide? So, now that’s the R.
We have the heart, the passion. We have the experience. We have the results. And now, we are moving into the O of the H.E.R.O. Model, which is opportunity. Now, some people find something that they are passionate about.
They find something that they are great at, that they have great experience on. They have the results, but then they go for market that doesn’t have any money.
Now, unless you want to run a charity and you’re looking for external fundings, whether it’s private investors or public fundings and so on, if you want to go after a certain category of people that doesn’t have the means to pay you, it’s going to be very difficult to start a business.
It’s going to be very difficult to get traction. Yes, you will have the one or two clients but it will be very difficult to get paid. And so, whenever now you have identified, okay, these other things I’m passionate about, I have experience on, I can provide results, the last thing to consider is in this sphere, in this topic, where are the biggest opportunities?
Where are the people that I can connect with or organisations I can connect with that can pay me the most for this type of skill and expertise? And then with the money you earn you do whatever you want.
You can keep it to yourself, you can give it back to charity, you can support other causes, you can have a percentage of the money that you get to go to other people that will not be able to afford your trainings. Whatever you do is up to you, but don’t get stuck in a niche that cannot pay you because if you do that your business is going to keep struggling.
And if you struggle, then you will not be able to serve people in the best way. And also, people don’t want to be helped by people if they are struggling themselves. It’s almost like, well, you’re struggling. I need you to help me so I’m not struggling anymore, right?
That’s a bit of a fucked up relationship there. And that’s why it’s really important that when you’re running your business, and of course cash flow can always go up and down and so on, but it’s really important when you’re running your business you come from a place inside where you know a hundred percent, you’re talking to the right people, it’s something that you love, there’s money in the market that you’re serving, and there is opportunities, you have experience, and you can provide results.
If you put those things together there is nothing that is going to stop you and you will immediately be clear about what market there is. What is the highest profitable niche for you? This is something that we do when we work with all of our clients.
At the beginning of all our courses, whether it’s our profile builder course, for example, where we get people to build their audience and get featured on media and publication.
We look at where is your most profitable niche? Because we identify the niche then we can see what kind of publications or media or speaking opportunities are the best for them. Or even for people who are looking at the basic business strategy, this becomes the foundation, this becomes the core, everything else that you do you do to serve those people.
And so, if you have the wrong niche first, to start with, then it’s more likely you’re just going to be all over the place. You’re going to follow every single shiny object, you’re going to follow every single opportunity, well, distraction which is masked as an opportunity.
Because sometimes it’s difficult to identify, like opportunities and distractions. And to identify if it’s an opportunity or distraction, one of the ways is to look at is this in alignment with my niche?
Is this in alignment with the people that I want to serve? And you follow these four steps, you are going to have always a great niche, you’re going to be focused, you know the person you’re going to serve, and you’re going to do something that you absolutely love.
You’ll put your heart and soul into it to create better products, better services, to serve your clients better, to innovate, and you will not need to find any external motivation.
You will be internally motivated because that particular niche is calling you. And it’s something that also as well people will connect with you because you have experience, you can understand where they are.
They will respect you and look up to you, because you can have the results. And also, they will pay you because they have the money to pay you. And that’s why the H.E.R.O. formula is so powerful.
If you need any help, if you want to brainstorm this together with myself and my team, then let me know. Contact me. You can contact on any social media platform or send me an email at email@example.com.
We have our Explode Your Expert Business intensive programme where we look at the entire strategy, creating and launching a product or a service, and then we have the profile builder programme which is designed to help you grow your audience, expand your network, and become an authority in your field by getting speaking gigs and media publications.
So, once you have your product, once you have your services, once you have your strategies this will help you amplify all the work that you have done. So, thank you very much for watching. Thank you if you are watching live. Thank you very much for listening if you have been listening to the podcast.
I’m looking forward to hear from you. Any question, contact me at firstname.lastname@example.org or any social media platform. You want to work together, you want to see how we can help you in your business to go from expert to authority, to become known, to put the right products and services in place, to launch your signature programme and expand your audience, grow your network, become an authority in your field.
That’s what we do, day in and day out with hundreds of clients every year and we would love to help you. Now, thank you very much.
Hey Sapphire, thank you very much for joining today. I’m looking forward to seeing you next time and always remember, that together we grow exponentially. Ciao.