Every month we run through a series of questions to help you run your freelance business like a bigger business—“self-coaching” your way to better results and a better life. 

Hey!

Instability is the constant for a lot of us these days…which means it’s a great time to rethink our niche.

One of the drawbacks of employment is being in a position where it’s incredibly hard to adapt when industries get rocky. But as freelancers, we have agility—agility that allows us to move to safety and take advantage of opportunities more quickly than we can in employment relationships. (Remember, the steps you take here can even feed employment decisions…freelancing and employment aren’t mutually exclusive.)

We have the option of rethinking our niche and responding with options like niching down, niching up or laterally, or even expanding into new territory. (Check out BF Niche Resources here)

That’s why this month, we’re going to go over four questions you should be asking about your niche to maintain stability and even growth in your freelance business. 

What’s my plan to move forward?   

You’ve got a few options in your strategy in terms of your niche…

• Stay where you are
• Move within your niche
• Expand into a new niche
• Completely leave

If you’re seeing difficult waters ahead, it’s time to consider the pros and cons of each of these. 

List these out and start writing out your positives, negatives, and risks for each option. Consider doing a simple SWOT analysis too. 

This isn’t a decision you should make in isolation. Talk with people in your niche, outside it, and in your target niche. You’ll need a wide range of insights and information to map out a viable plan. 

Want to talk to others and get some input from other freelancers? Stop by the BlackFreelance Mastermind Discord.

Megan