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’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.

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.

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.

2. Pressures – What external pressures are influencing their decisions? Economic factors, societal trends, and industry shifts can all play a role.

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.

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.

5. Desires – What do they dream about? These are the aspirations and goals that, if met, will make your product irresistible.

Conducting Targeted Interviews

To gather this intel, you need to interview your best customers with very specific questions. 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?

Start on page 67 of Surge for a detailed guide on how to conduct these interviews and gather the insights you need.

Real-World Examples from Surge

In Surge, we talk about businesses that hit the mark perfectly by unifying these elements. One example is a software company that initially struggled to find its niche. By conducting deep-dive interviews, they discovered their customers’ biggest frustration was the lack of integration with existing tools. They unified their development around solving this problem, and the result was a product launch that hit the market at just the right time, leading to massive success.

Another example is a boutique fitness studio that found its niche by understanding the unique pressures its clients faced, such as time constraints and the need for personalized attention. By addressing these pressures directly, they were able to create a service that resonated deeply with their target market.

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.

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