The Soulful Entrepreneur #009: How to Find Your Niche

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Matt Gray
Matt Gray
I love what I do.
A lot.
I love building the community around Herb and Soulful Entrepreneur.
I love writing and travelling.
And I LOVE helping people.
Like you.
But it hasn’t always been this way.
I’ve spent late nights hating what I do. I’ve had night terrors.
I dreaded waking up for work the next day.
I’ve been depressed.
I learned 5 strategies to find my calling and select a niche I love.
Here we go.

Hiking last week in Sedona, Arizona
Hiking last week in Sedona, Arizona
Strategy #1: Find Your Ikigai
Ikigai is a Japanese concept referring to something that gives a person a sense of purpose. A reason for living.
It takes a moment and turns into something that can change your life.
Find the intersection of:
  • What you love
  • What you are good at
  • What the world needs
  • What you can get paid for
Here is mine:
My Ikigai
My Ikigai
Now I:
  • Scale cannabis brands to $10M+ revenue through Herb
  • Teach entrepreneurs how to create a marketing engine to scale from $1M to $5M in revenue (DM me on Twitter if interested)
  • Coach entrepreneurs
  • Hike in nature daily
  • Travel the world
  • Write every day
What is your Ikigai?
Strategy #2: Build the Anti-Something
This is a powerful framework.
You can be the anti [insert something]:
Anti-university = 1:1 course for a specific target market
Anti-book = 250-word summaries of popular books
Anti-Uber Eats = Private chefs at your house for gourmet meals
Anti-doctor = Professional wellness professional in the comfort of your home
Strategy #3: Strengths + Interests + Monetization Strategy
Do exactly this:
  1. Journal your 3 biggest strengths (ie. spreadsheets, painting, sales)
  2. Journal your 3 biggest interests (ie. football, community, coaching)
  3. Combine these with a monetization strategy
Example:
Football (interest) + spreadsheets (strength) + coaching (monetization strategy) = 1:1 coaching for high school football teams to moneyball their roster and win 5x more games
Potential Monetization Strategies:
  • Slack Community
  • Group Sessions
  • Digital Product
  • Subscriptions
  • Mastermind
  • Membership
  • Software
  • 1:1 Calls
  • Courses
  • Videos
  • Book
Strategy #4: Find Your People
What sort of people do you love helping?
I love helping entrepreneurs.
Who is your ideal customer?
My ideal customers are hungry entrepreneurs that want to make a dent in the universe.
Brainstorm all the ways you can help them.
Talk to them.
Build a business to serve their needs.
Strategy #5: Turn a Job Description into a Business
This one is simple.
  1. Get inspired by looking at the responsibilities listed in a job description (JD) from a role at a company you think is cool
  2. Create a niche to solve one responsibility
Here is a quick example:
I think Genies is a cool company and I love design.
I looked at a Designer role at Genies and found these responsibilities:
Genies Designer role responsibilities
Genies Designer role responsibilities
Look at bullet point #3 above.
I could create a course on “How to Get a Job in Human-Centered Design for the Metaverse” and sell this for $5,000 to graduates from USC, UCLA, and CalTech and aim to get them jobs at cool companies like Genies, Facebook, and Snapchat.
30 students per cohort x $5,000 per student x 8 cohorts a year = $1,200,000 per year
That’s a wrap!
If you enjoyed this newsletter please forward it to one person you think would benefit from it
My mission is to help 1 million entrepreneurs live their dreams.
See you again next week.
Much love ❤️
P.S. I’m launching a cohort-based course in June to help entrepreneurs build a scalable marketing engine and grow from $1M to $5M annual revenue.
Only 3 spots left.
If you’re interested in joining DM me on Twitter and I’ll send the application.
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Matt Gray
Matt Gray @matt_gray_

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Matt Gray 1267 N Laurel Ave, West Hollywood, CA 90046