In the third part of “The Hustle” series we will show you three questions that will help reveal your inner strengths as an entrepreneur.
It has taken me two years to write my first manuscript, and to find a publisher that was willing to invest in bringing my words to the public.
I was proud.
I thought I was finally headed in the right direction.
The timing also coincided with my first time experiencing Emerging Women Live, a conference that shook me to the core, and I truly walked away thinking differently.
I was confident, clear, and ready to use my voice to share my message and network my lil’ booty off. My publisher gave me an assignment to find important people that could endorse my book.
At this point I had only verbally pitched my idea to my publisher, and she came to see me speak on a panel that same evening. I was able to gain her trust before sending my manuscript, which I had sent to her and the editor just days before.
The night before the conference I was cuddling with my laptop in my narrow Airbnb when I received feedback from my editor. And, it wasn’t pretty. I will sum it up as: my first draft sounded like cliff notes!!
My throats tightened and my heart fell heavy into my stomach.
I went to bed that night repeating: cliff notes.
Despite the feeling of failure, I promised myself the next morning that I would go into the conference with the same fervor, head held high.
I was doing pretty well, walking through the check in area with a smile, making eye contact, saying hello first. I was pretty damn proud of myself.
Then I was handed a gift bag. It was heavy, and I thought, oh there is some good stuff in here!
The first thing I pulled out was a book, with nearly the same title as mine!! My heart once again found its way to my gut, and my eyes filled with tears.
I immediately took a picture and texted it to my publisher, asking if this was going to be a problem. Fortunately the answer was no.
But this instance had awoken a fear in me.
That there was too much competition.
Why would anyone listen to my approach?
Who am I, and what am I really putting out there anyway?
I retreated from my inner voice’s craziness, and did my best not to get judgmental, I began to repeat inwardly: stay curious and open, stay curious and open….
I was actually in the perfect place to be experiencing such reflective questions. This allowed me to reveal to myself my niche in the industry. The information at the conference fed so many of my answers. So much that I would often find myself soaking with sweat while listening to some of the speakers and having to go home to change for the evening sessions.
It was in this place where my entrepreneurial super power was born.
I was honest and smart.
I did my due diligence– the responsibility of any successful entrepreneurs.
Yes, authors, speakers, and coaches exist in a saturated market. I knew the facts. I did a competitor analysis. Which felt like quicksand full of doubt and fear again. But, I found a way to fight those thoughts with facts.
The facts allowed me to see how my approach actually filled a niche. More importantly, even though I want to change and empower the world, I cannot by myself. Nope, can’t do it.
So, if I can’t, neither can all the other people doing this with me.
In fact, we are all needed, because each of our voices speaks to a segment that is currently out there lost, hurting, and ready for what you have to offer.
It is your responsibility to find your Entrepreneurial Super Power for the success of your business, and to genuinely help those that need YOUR APPROACH.
You are human, you are influenced by your environment.
Please be aware of this as you study your competitors, their content, and approach. We want you to stay authentic to you.
So, look at it more analytically. Here are three questions to help guide your reflection and reveal your entrepreneurial super power (your niche).
- What one problem is your audience facing?
- What is your competition doing to help this problem?
- How are you going to solve your audience’s problem? List 3 ways your approach is going to solving this problem is different – this is your superpower! (Make sure you are including a product or service as part of the solution)
There is a beautiful opportunity when you have thoroughly studied your industry. You understand where the holes are. You understand where your voice, and your perspective is missing.
Here are some simple tips to approach your competitor analysis.
- Think of 2-3 channels of income you want for your bigger picture. For me it was speaking, writing, coaching.
- For each income making part of your business find 5-10 in your industry doing the same thing. Divide this list into two parts:
- I like how they are doing things….
- I don’t like how they are doing things…
This allows you to recognize the approach and personality of your industry, and this is where you begin to create a niche for yourself, with your unique point of view!
Please remember to stay curious and open, don’t let this part of the process confuse you. Your niche is your superpower. This is the fun part, figuring out exactly what you want to offer, and who you want to offer it to!
In my next article we will figure out how to gain your customer’s trust AND build more trust for yourself!