Pivoting and Redefining Your Niche

“Don’t be afraid of change. You may lose something good, but you may gain something better.” Change can be quite scary. And it’s quite understandable because when we change, we are stepping into the unknown. We don’t know if the results will be good or bad. And we’re afraid that things will not go as expected. However, changes are sometimes necessary, and will help you and your business to take the steps to grow further. In this episode, Tim and I discuss how redefining your niche can lead to getting increased results for your business. We also talk about the different factors that you may need to consider, and how often you should step back and take a look at the bigger picture. If you’re feeling like your business is a little bumpy, redefining your niche might be exactly what you need. Haven’t left a review yet?  We’d love your help to get to 100 reviews.  All you have to do is go to http://samanthariley.global/itunes Thanks so much for your support of the show! Do you have a guest suggestion for the Thought Leaders Business Lab podcast, a suggestion for a topic, or maybe a question you’d like answered on the show?  Click here and let us know: https://samanthariley.global/submit-suggestion/ For full show notes and links visit:  https://samanthariley.global/podcast/126 WHAT YOU’LL DISCOVER IN THIS EPISODE: What is a niche? (2:43) What is a target market? (3:44) How often should you ask what your customers want? (4:52) Advantage of identifying the characteristics of your customers (7:34) External factors to consider when redefining your niche (9:25) Internal factors that tell us when we need to redefine or create a pivot (11:19) Identifying your ideal client (14:51) What to consider when adjusting your message (15:51) After effects of redefining your niche (16:15) Pivoting to gain clarity (18:15)