Focusing on a niche and reaching the top in it? Reaching the top 10% is easy. But getting to the top 0.1%? That is a different level.
You might fail even after years of effort. But there is a smart way to mitigate the risk.
Let’s say you have 10 areas of interest, A1 to A10.
Niching typically means choosing one of these and getting to say top 0.1%. But what if you chose 3 instead – A7, A9 and A10. You aim to get to top 10% in each of these.
Mathematically, this puts you in
10% * 10% * 10% = 0.1% of those who have expertise in these 3 fields!
Your niche is the intersection of these.
If you choose fields which are interrelated, you will reap even more benefits.
- The effort will reduce due to overlaps
- Market values people who understand adjacent fields. e.g. In Fintech, you benefit from knowledge of Finance, Technology and Startups
- You will be able to cross pollinate ideas.
Think carefully about the concept of a niche. Niche is not just one thing. It is a combination of your unique choices.
