Where do you excel? What is your point of differentiation? By looking at your ideal client and finding commonalities among your successes, you may find a niche where your business can really thrive. Discovering your niche market may also help you fine-tune how your business is run and how you generate revenue.
- Look at your top clients’ needs as a method of determining your market (retiree, pre-retiree, wealth creation, basic insurance, strategic advice, asset management, asset protection, employee benefits/group health insurance, educational planning).
- For another method, look at the demographics of your best clients (age range, profession, interests, product needs).
- What does your market look like? Create an ideal client checklist. (For example: $300,000 to invest, someone who is accessible/responsive, willing to take advice, someone you like, someone who will share your name with others.)