The key to finding a niche is answering the question: What are you willing to do that very few other people are willing to do?
If you want to start a company and make millions, that’s great, but who wouldn’t want that? Are you willing to pour three years of your life into a project that might not pay out a dime? That’s pretty unique, but there are lots of people already doing that, so you need to differentiate yourself on another level
Maybe you’re willing to give away high-quality quality content about personal development for free for two years. Then, you cash in on all the trust you’ve built and launch a workshop series that no one attends until your third year when you finally make a profit. From then on, business has its ups and downs, but it generally grows until you have a strong asset for many years to come. That’s something very few would be willing to do.
Also, keep in mind the thing you were willing to do could already be in the past. Maybe your parents put you through dozens of hours of tennis lessons every month and now you’re 17 and a phenomenal tennis player. Are you willing to take the risk to start teaching private lessons?
At first glance, this seems like an obvious next step. Why wouldn’t you teach private lessons if you were this person? But it’s much scarier than it sounds. Have you ever asked someone to pay for your work? It can be terrifying.
So what were you willing to do that very few others were? You were willing (and able) to spend eight years of your life receiving hundreds of tennis lessons, and most importantly, now you are willing to share that knowledge with others and ask for compensation. Very few people are willing to do that.
You have lots of skills that could differentiate you, but you also have a unique set of experiences, connections, resources and worldviews that set you apart. How are you able to use these in a way that no one else can?