When you search for how to build your practice, one of the top things you are looking for is who to work with. And more than a few times I have been asked, what is the most profitable niche?
You got into business to help people, but you also want to make an income so you can keep the doors open and provide a wonderful life for yourself. Profitable is important in owning a private practice. So it makes sense people are looking for a profitable niche and having a niche informs the direction of your message, your marketing, and your services.
Let’s get to it.
Here is the most profitable niche ever!
- The most profitable niche is a well researched niche. In our bootcamp we give an exercise where we have people subniche as far as they can. Even down to zany things like Single Thirty Somethings with phobias related to transportation. Sounds silly? Sure. Then we challenge our bootcampers to research- go onto meetup, use google keyword research tool, check out facebook - all in search of these subniches. From the research you can start to discover what is really out there. You might find there is a group for phobias. There might be a group in your area for Single Thirty Somethings. The key here is to make sure the niche exists. Period. Don’t assume or guess. Get in there and look up statistics to discover what is out there. It will build your confidence as you market your practice.
- The most profitable niche is the one you are best equipped to help. Success means that your clients experience change because of the work you do together. Take time and look at your toolkit and who you have helped before. When you understand your skill (and don’t tell me you are an intern or just starting out so you have no skill…I don’t buy that), you are able to communicate this to potential clients and demonstrate the value of working with you.
- The most profitable niche is one that excites you. Owning a private practice is a long haul endeavor. You don’t build it up just to quit in a few years. You are probably going to do this work for a long time. So follow your energy. What excites you? What do you love to read about? What clients have you most looked forward to seeing? You need the passion to carry you through the rough patches of business building and to help you soar during the good time.
So before you go get your fancy certifications in a niche, start with what you already have first. And from their you can discover the most profitable niche for you. A place where a need and your skill and passion collide.
Share below if you have a niche!