Here’s a really simple framework for identifying your ideal niche.
When I first started I thought it's gonna be business owners, doctors and executives. The only reason I said that is because I figured doctors, business owners and executives have money. As I went out to the market, I learned. I talked to executives and realized I didn’t love it.
I worked with doctors and I ended up seeing a pattern. Every single doctor that I signed up, happened to either be self employed or wanted to leave their position at the hospital to become self employed.
Then I realized, maybe they don't really like doctors. Maybe I just like working with entrepreneurs, because I There seems to be a trend here.
You need to drill down and drill down, until you find out what is a category of people that you like to hang out with and you get energy from.
Don't just pick a niche because it's profitable. Working with executives on their stock option plans and decentralizing from one company stock, that would be super profitable. Some advisors get a ton of energy and make a ton of money helping people do that. I just didn't like it. It didn't give me energy.
When you're going to pick a niche, find something that energizes you. You need to be energized to work with your people and find problems you're energized to solve.