I don't think my brain is switched on today (well, it IS Sunday! LOL!
) because I'm still failing to see the differentiation between Niche and Target Market.
I've always gone for anyone who needs my services. I've had/got as my clients Removals companies, pub/social club owners, an inventor, a cake decorator, a carpenter/joiner, a professional business coach, etc. I guess the one thing they all have in common is that they are all business owners.
But if I was to specify a target market, I think I'd want to go for professional coaches and life coaches, trainers, etc. This is purely because all the coaches I've met I liked. I seem to be drawn to those sorts of people. And I'd probably pick up lsome personal development tips in the process.
Property investors is another target market/niche that I'd like to work with. Property interests me (since I read Rich Dad, Poor Dad
& started playing Cashflow 101) and I'd like to get into that business myself in the not too distant future.
Another great idea I had,
was being a Virtual Assistant's Virtual Assistant and working with other VAs, being someone they could outsource work to when they have too much. I think that'd work, for sure!
That being said, if someone else, say, an accountant or a builder came to me wanting some clerical support, I'd not turn their business down. It's money, for goodness sakes!!!
Anyways, I'd certainly appreciate a little more clarification on the difference between target market and niche.
Also, if someone outside of my target market and/or niche was to come to me for some support, am I supposed to turn them away? Perhaps I could take them on, but outsource the work to someone who specialises in their field, getting just a small referral fee from the VA I outsource it to?