CATCHING THE PERFECT WAVE – HOW TO MAKE SURE YOU’VE CHOSEN THE RIGHT NICHE AT THE RIGHT TIME

If you’ve been following along this month, you’ve spotted the wave you want to ride (aka your niche), and you’ve been paddling hard to get aligned in front of it. But let’s talk about a common problem many of us face at this stage: missing the moment. You’ve got the wrong product at the wrong time, and it’s incredibly frustrating.

Your challenge

You want to master this monster of a market. You’re ready to catch that wave, but you keep missing it. Your product isn’t quite right, or the timing is off. It’s a disheartening place to be, especially when you’re so close to success. I’ve been there myself, so I know exactly how it feels. You’ve put in all this hard work, and yet, it seems like you’re just one step away from making it big, but you can’t quite nail it.

The common fix

When this happens, you may start to get desperate. You might start moving too quickly, launching products without adequate intel on what your niche really needs, wants, or hates about the industry. It’s a scattergun approach that rarely hits the target. This can lead to wasted resources, burnout, and even more frustration. I remember launching a product years ago, thinking it was the perfect solution, only to realize it didn’t resonate with my audience at all. It was a tough lesson, but an invaluable one.

Try this instead

The solution? Slow down and unify. The plan is simple: identify five common elements of your niche marketplace and then unify them. Let’s dive into how you can do this effectively.

1. Problems: What specific problems are your potential customers facing? Dig deep to understand the pain points that keep them up at night. These are the issues that your product or service must address to be relevant.
2. Pressures: What external pressures are influencing their decisions? Economic factors, societal trends, and industry shifts can all play a role. Understanding these pressures helps you position your product in a way that feels timely and urgent.
3. Needs: What do they absolutely need to solve their problems? This goes beyond wants and desires – think about the essential solutions they’re seeking. If your product can fulfill these needs, it becomes indispensable.
4. Requirements: What are the must-haves for your product or service to be considered viable? These are the non-negotiables that your niche demands. Fulfilling these requirements ensures your product is taken seriously.
5. Desires: What do they dream about? These are the aspirations and goals that, if met, will make your product irresistible. While needs get you in the door, desires make your customers loyal advocates.

Conducting targeted interviews

To gather this intel, you need to interview your best customers with very specific questions. Think of this as hiring your customers to help you refine your product. Don’t fall into the trap of asking generic questions like, “What do you need?” Instead, dig deeper with more thoughtful and direct questions like:

• What are the elements of my company’s services/products that you find most valuable?
• What about my industry is the most frustrating to you?
• What are the biggest frustrations or challenges you are currently facing?

These questions will help you uncover the insights you need to create a product that truly resonates with your niche. (This process is outlined on page 67 of Surge for a detailed guide on how to conduct these interviews and gather the insights you need.)

Teetering on the edge

Imagine yourself teetering on the edge of a wave, ready to fall or stay afloat. This is where many entrepreneurs find themselves. By unifying the elements of problems, pressures, needs, requirements, and desires, you position yourself to catch the wave perfectly. I’ve seen this time and time again—businesses that take the time to unify these elements don’t just survive; they thrive.

Remember, the goal is not just to catch the wave but to ride it all the way to shore. It’s about creating a product or service that fits so perfectly with your niche that it feels like it was always meant to be. Take your time, do your homework, and unify your approach. The wave is there, and it’s ready to carry you.

Keep pushing forward, stay focused on your purpose, and trust that the wave will carry you. You've got this!

Wishing you health and wealth always!

-Mike

PS - Want to incorporate more methods to master the market? Grab your copy of Surge here.