August Challenge: Understanding Your Niche Breakdown (And an Apology)

Published: Sun, 08/20/17

Hi

(I'm so sorry! I just logged into my email scheduler and realized I pushed last week's email out a week too far...no worries though. We'll get caught up by EOM.)

A lot of times, the key to really getting the most long term traction possible out of a niche comes down to finding the right little corner to focus on.

You probably already know I work in the healthcare space…it’s MASSIVE, but that doesn’t mean there’s just cash laying around, waiting for freelancers to come and grab it up. As a matter of fact, I sometimes get emails from other healthcare-focused freelancers asking me how I charge the rates I do…they’ve had problems and don’t understand why since we’re working in the exact same sector!

We’re not really though.

I don’t just work in healthcare. There’s no way I’d do that. It’s too big for me to really understand and plus, focusing makes my life a lot easier. That’s why I work not just in healthcare, but in healthcare tech. And not just in healthcare tech. I work in B2B healthcare tech.

B2B and tech are dimensions that have a lot of money flowing through them in almost any sector, so hitting my income goals has been pretty easy. There’s a good chance you finding your place in freelancing is all about lining up with the right corners too, so let’s talk about what that’s going to look like for you.


Understanding Niche Dimensions

If you need an intro to niche dimensions, check out this post, and this list for a good overview.

This week, we’re going to check out a few dimensions in your niche. Again, we’re not trying to go super-deep here. I just want you to sit down and think a bit about how you shape your business around the existing need for work.

If you’re feeling comfortable like me, I still want you to think this through because things change. Better opportunities pop up elsewhere. You might be bored or even burnt out. It’s a good idea to rethink this kind of thing on a regular basis so that you can maintain your energy and momentum across your freelance career.

So this week I want you to name one dimension that you think fits with each of the categories below. This might take some research (like those top # lists on Google), but if you have to guess, that’s fine. The point is to just start.

  • Most Profitable
  • Best Fit for Me
  • Most Comfortable for Me

To help you out a little I’m going to share my answers and reason behind them…

  • Most Profitable: Tech. Healthcare tech is a $100 billion industry.
  • Best Fit for Me: Healthcare revenue cycle. This is where I worked for 10+ years and have the most traction.
  • Most Comfortable for Me: Sports and nutrition…the work is easy, it’s tied to healthcare, fun for me (it connects with my hobbies), and pays well.


Marinate on those for a while, and let me know how it goes! It’s a process and I’d love to hear how you’re doing in yours. Talk to you soon!



Megan





P.S. Here are the Academy resources that you’ll want to check out this month…



Niche Resources (open resource)