After trying and testing different models over the last 5 years, I brought it down to a simple 5P framework to check if your topic or niche will be profitable or not.
🚀 Join The Industry's First 3-Year Digital Coach Certification - https://sidz.co/diamond
00:00:00
Speaker 1: After five years of trying and testing different models in
00:00:03
Speaker 1: the coaching business in this podcast, I want to share
00:00:05
Speaker 1: with you how to validate if a niche would be
00:00:08
Speaker 1: profitable or not because I've seen so many different niches.
00:00:10
Speaker 1: But what does it take to make it profitable? We'll
00:00:13
Speaker 1: get into that.
00:00:15
Speaker 1: Hey, there, since you are welcome to another episode of
00:00:17
Speaker 1: the Freedom Business podcast. And if you've not subscribed to
00:00:19
Speaker 1: me on Apple or Spotify, please make sure that you
00:00:21
Speaker 1: do that so that you get future episodes like this. Now,
00:00:24
Speaker 1: let's talk about profitability. How do you know whether a
00:00:27
Speaker 1: niche is profitable or not? How do you validate and
00:00:30
Speaker 1: see whether it's going to be creating a lot of
00:00:33
Speaker 1: income or not? And for this, I have developed a
00:00:35
Speaker 1: system where we need to validate five piece of five
00:00:38
Speaker 1: different areas and I'm gonna go deep into each area
00:00:41
Speaker 1: so that you can map it back to what we
00:00:43
Speaker 1: are doing. And to see whether what topic that you
00:00:46
Speaker 1: have chosen has a potential to be profitable or not.
00:00:50
Speaker 1: The first area is you need to really have the
00:00:54
Speaker 1: passion
00:00:55
Speaker 1: in the subject, what you're teaching and that passion usually
00:00:59
Speaker 1: comes from a past experience. It is not something that is,
00:01:04
Speaker 1: you know, manufactured newly, meaning there are many people who
00:01:07
Speaker 1: pick a topic or a niche just because it's the
00:01:09
Speaker 1: hottest thing in the market right now. It's the hottest trend.
00:01:11
Speaker 1: But the problem with that is that, that is very
00:01:14
Speaker 1: short lived because if somebody is a trend writer, they
00:01:17
Speaker 1: will only write a trend for,
00:01:18
Speaker 1: for a short span of time and then they will
00:01:20
Speaker 1: look for the next trend after that. So unless the
00:01:24
Speaker 1: passion is there for a topic which is connected to
00:01:27
Speaker 1: your past and your childhood or some pattern from your
00:01:29
Speaker 1: childhood where you've been really interested in, in that topic
00:01:33
Speaker 1: or anything around that topic,
00:01:35
Speaker 1: unless you, you have that your niche will not be profitable.
00:01:39
Speaker 1: Because after some time in case your topic is not
00:01:43
Speaker 1: in your passion area, you will get bored after some time.
00:01:46
Speaker 1: And if you get bored, you're not be able to
00:01:47
Speaker 1: put your energy into the whole thing. You will not
00:01:49
Speaker 1: be able to do so much of research on your topic.
00:01:52
Speaker 1: If you don't have a passion, if you don't have passion,
00:01:54
Speaker 1: you also will not be able to, you know, go
00:01:57
Speaker 1: through the obstacles that you'll be facing.
00:01:59
Speaker 1: I was watching an interview by Steve Jobs. Uh, you know,
00:02:02
Speaker 1: with that, he recorded many times back many years back
00:02:05
Speaker 1: and he says that, uh, if you're not obsessed with
00:02:08
Speaker 1: what you really like to do. There's a very high
00:02:12
Speaker 1: chance that you will switch to something else. And that
00:02:15
Speaker 1: obsession and passion only comes when at a hard core level,
00:02:20
Speaker 1: at a really deep core level, you're able to connect
00:02:22
Speaker 1: with that particular subject. So the first
00:02:25
Speaker 1: validation checkpoint is, do you have the passion and obsession
00:02:28
Speaker 1: for the topic? Otherwise you'll get bored.
00:02:31
Speaker 1: The second checkpoint is that this passion should solve a problem.
00:02:36
Speaker 1: If your passion does not solve a problem, it is
00:02:38
Speaker 1: only a hobby. For example, if uh you have a
00:02:42
Speaker 1: passion in cooking and if you just want to cook,
00:02:45
Speaker 1: that's just a hobby. But if you have a passion
00:02:47
Speaker 1: in obsession in cooking, but you want to really put
00:02:50
Speaker 1: out different recipes and cuisines for other people to discover
00:02:53
Speaker 1: and you wanna, you know, charge people for that and
00:02:55
Speaker 1: give them the value. Then there is a business opportunity
00:02:58
Speaker 1: over there. So your passion is solving a problem. Like
00:03:01
Speaker 1: in my case, I have a passion in teaching and
00:03:03
Speaker 1: coaching
00:03:04
Speaker 1: and helping people uh take their knowledge out to the world.
00:03:07
Speaker 1: And I'm also solving the money problem on how you
00:03:09
Speaker 1: can monetize your knowledge. It's not because the passion and
00:03:12
Speaker 1: the problem are there.
00:03:14
Speaker 1: This is uh actually growing, that whole digital coaching business
00:03:16
Speaker 1: is growing. And in my case, because it's connected to
00:03:18
Speaker 1: my back story and my past story of being a
00:03:21
Speaker 1: college dropout. And I don't have a degree next to
00:03:22
Speaker 1: my name. And in spite of that, I've been able to,
00:03:25
Speaker 1: you know, build one of the largest communities in this space.
00:03:28
Speaker 1: It really proves to the world that you don't have
00:03:30
Speaker 1: to be formally educated to be successful in a topic
00:03:33
Speaker 1: like this or, or even in, in life. So that
00:03:37
Speaker 1: was my thread that uh
00:03:39
Speaker 1: the thread from my past that is inspiring me to
00:03:42
Speaker 1: do what I'm doing right now. So the first P
00:03:44
Speaker 1: is the passion. Second P is a problem.
00:03:47
Speaker 1: The third PP is that you got to really target
00:03:50
Speaker 1: a particular persona.
00:03:52
Speaker 1: If you're targeting a wide market, there is no way
00:03:55
Speaker 1: that that market is going to be responsive because if
00:03:58
Speaker 1: you're selling to everybody or selling to nobody,
00:04:00
Speaker 1: so your passion should solve a problem for a very
00:04:03
Speaker 1: specific target market.
00:04:05
Speaker 1: For example, one of my students, she's into a European
00:04:09
Speaker 1: home baking and she's only catering to women who are
00:04:12
Speaker 1: interested in European home baking and she's making 3 to
00:04:14
Speaker 1: 5 to 6 lac per month only in that one
00:04:16
Speaker 1: particular subject like this. I have another student who only
00:04:19
Speaker 1: teaches flute. He works in a top multinational company as
00:04:22
Speaker 1: a senior uh you know, in the senior roles. But
00:04:24
Speaker 1: on the week
00:04:25
Speaker 1: he teaches flute and he's making anywhere between 15 to
00:04:27
Speaker 1: 2025 LACS per month teaching flute because it's a very
00:04:29
Speaker 1: specific topic that he's teaching. It's a hobby type of
00:04:33
Speaker 1: a topic, but he's solving a problem. He's helping people
00:04:36
Speaker 1: learn songs on a flute and a very specific target
00:04:39
Speaker 1: market who are inclined towards learning flute and learning the
00:04:43
Speaker 1: Indian traditional art form.
00:04:45
Speaker 1: He's not targeting uh any other style of music or
00:04:48
Speaker 1: anyone who's inclined towards other sides of music. So it
00:04:50
Speaker 1: is not just about targeting uh entrepreneurs or working professionals
00:04:55
Speaker 1: or women or mothers. It could also be a particular
00:04:58
Speaker 1: segment in society also like in this case, who have
00:05:00
Speaker 1: a passion in what you have a passion in. OK.
00:05:03
Speaker 1: The best target market is somebody who's just like you,
00:05:07
Speaker 1: but just maybe two or three years behind
00:05:09
Speaker 1: somebody who has your values, somebody who has your kind
00:05:12
Speaker 1: of belief systems. And that's when I started my campaigns
00:05:15
Speaker 1: in the beginning, I targeted only my own city. When
00:05:17
Speaker 1: I was in Chennai, I was only targeting Bangalore and
00:05:19
Speaker 1: Chennai because I come from these two cities and I
00:05:20
Speaker 1: used to give those examples and people just buy because
00:05:23
Speaker 1: they could relate with me as a person that was
00:05:24
Speaker 1: a rapper that I could build. So that's the third
00:05:26
Speaker 1: piece is you got to really connect with an audience
00:05:29
Speaker 1: and uh a specific audience. And that's the persona.
00:05:33
Speaker 1: The fourth piece is you need to pick a topic
00:05:37
Speaker 1: which has a potential in the market,
00:05:40
Speaker 1: meaning it should have a growth trajectory. That is already there.
00:05:44
Speaker 1: For example, right now A I and T GP T
00:05:47
Speaker 1: and anything to do with technology tools and digital and
00:05:50
Speaker 1: even the digital coaching space is going to become a
00:05:51
Speaker 1: $350 billion industry in the next few years. That's literally
00:05:55
Speaker 1: like a billion dollars a day uh industry. So I'm
00:05:58
Speaker 1: kind of right
00:05:58
Speaker 1: the trend right now, but I'm also riding the trend
00:06:01
Speaker 1: equipped with the right uh knowledge and the strategies and skills.
00:06:05
Speaker 1: And that is why my business is growing because it
00:06:07
Speaker 1: there's a potential in the market. But the potential is
00:06:09
Speaker 1: also back to the passion and the problem solving and
00:06:13
Speaker 1: the persona that I'm targeting, who are experts, coaches and
00:06:15
Speaker 1: teachers and trainers from, you know, from all over India.
00:06:18
Speaker 1: So the potential is very important because if your potential
00:06:20
Speaker 1: is not high, then the fifth P would not be
00:06:24
Speaker 1: able to be fulfilled, which is payment, people will not
00:06:28
Speaker 1: be able to pay you unless they see value in
00:06:31
Speaker 1: what you're offering and unless they want to be a
00:06:33
Speaker 1: part of that trend as well.
00:06:35
Speaker 1: So this is not just about a trend, but it's
00:06:36
Speaker 1: about an upward trajectory in any industry as you can see. Yeah.
00:06:41
Speaker 1: So if you see some of the booming industries in
00:06:43
Speaker 1: the world right now are, you know, in the training
00:06:45
Speaker 1: coaching industry, we have a lot of people who are
00:06:48
Speaker 1: in the, you know, crypto space, people who are in
00:06:51
Speaker 1: the Blockchain
00:06:51
Speaker 1: space, people on the A I space, like all of
00:06:54
Speaker 1: these are topics people want to learn marketing today. And
00:06:56
Speaker 1: if you go off beat, there are other topics on
00:06:58
Speaker 1: content creation, on video creation, on media creation, on editing,
00:07:02
Speaker 1: on becoming an influencer, becoming a creator. And there are
00:07:04
Speaker 1: so many of these topics that are not typically taught
00:07:07
Speaker 1: in schools and colleges
00:07:09
Speaker 1: that people are willing to pay for when it comes
00:07:11
Speaker 1: to them, building these skills.
00:07:14
Speaker 1: So ultimately, the profitability in the nit you've chosen depends
00:07:18
Speaker 1: on all these five p. Your passion should solve a
00:07:21
Speaker 1: problem targeting a particular persona, but there has to be
00:07:23
Speaker 1: a potential in the market and they should be willing
00:07:25
Speaker 1: to pay you for it and not just uh small payments,
00:07:28
Speaker 1: they should also be able to pay higher amounts. And
00:07:30
Speaker 1: how would you know that is when you do your research,
00:07:32
Speaker 1: when you go and look around the market and you,
00:07:34
Speaker 1: when you see that there are other people who are,
00:07:37
Speaker 1: you know, investing larger amounts of money in different courses
00:07:40
Speaker 1: and masterminds and products to solve the problem, then you'd
00:07:44
Speaker 1: be having the confidence to charge the same or even
00:07:47
Speaker 1: start small and work your way up.
00:07:49
Speaker 1: I hope you found this podcast useful. If you're not
00:07:52
Speaker 1: a part of my community yet, I would highly recommend
00:07:54
Speaker 1: that you go to S ID Z SI s dot
00:07:56
Speaker 1: co slash live and attend my next webinar. And if
00:07:59
Speaker 1: you don't want to attend the webinar, but directly join
00:08:01
Speaker 1: my community, you can go to S ID Zs IDS
00:08:03
Speaker 1: dot co slash join and directly join our community as
00:08:07
Speaker 1: a several member. But I'll help you put together these
00:08:09
Speaker 1: five piece into action and you can launch in our
00:08:11
Speaker 1: upcoming hackathon and our hackathons are super fast and you
00:08:14
Speaker 1: get all the tools and the resources to make it happen.
00:08:17
Speaker 1: And if you're already a part of our community, especially
00:08:19
Speaker 1: if you're silver or gold member, I would highly, highly
00:08:21
Speaker 1: recommend that you accelerate your success by upgrading yourself to diamond.
00:08:25
Speaker 1: You can go to S ID Z si dot co
00:08:27
Speaker 1: slash upgrade and you can upgrade yourself to the diamond
00:08:31
Speaker 1: membership and get certified. It is more of a certification
00:08:33
Speaker 1: program. Just imagine you're getting into like a Harvard, you know,
00:08:36
Speaker 1: business school. But of course, this is more like a
00:08:39
Speaker 1: Harvard Business School, but only for digital coaching as a
00:08:41
Speaker 1: subject because, you know, we have more than five years
00:08:43
Speaker 1: of case studies and models that have all been proven.
00:08:45
Speaker 1: And some of India's top trainers and coaches are going
00:08:48
Speaker 1: through this diamond certification process. So
00:08:51
Speaker 1: jump into my diamond showcase, uh learn how you can
00:08:54
Speaker 1: uh explore the 10 Crow game plan. I'll be unveiling
00:08:57
Speaker 1: that game plan and of course, towards the end, I'm
00:08:59
Speaker 1: gonna give you an opportunity to get yourself on board
00:09:01
Speaker 1: to a diamond certification process. With that being said, thank
00:09:04
Speaker 1: you so much. Catch you in the next episode and
00:09:07
Speaker 1: share your comments below. If you're listening to this on
00:09:09
Speaker 1: my blog.