Simple Wealth Step #9 – Choose a Niche and Master it

Step 9 is to choose a niche you love and become an expert in that niche.

It’s most likely you already have expertise in a certain area that you are really interested in and although it is not a ‘given’ that your wealth will flow to you from that area it certainly is the place to go looking first. It will be a lot easier spending your days around something that gets you excited rather than something you are just doing because it works for you financially.

If you are currently working in a job that you don’t love you will know what I am referring to here! Having said that though, you may find you fall in love with doing something that changes your life so keep an open mind.

There are 3 areas we explore in the Simple Wealth Steps course:-

  • Real Estate
  • Business
  • Shares

These are very broad topics but they cover all possible directions and looking at all three helps you to make an informed and intelligent choice. There are thousands of possibilities within each one that could become your niche.

I reckon it stands to reason that you should develop skills in all three areas to ensure you have the ability to take advantage of opportunities that may present themselves, however it is important that you don’t spend your life exploring and never choosing! I’m sure you have heard the saying ‘jack of all trades but master of none!’ You do need to choose!

Too many people fail to reach their financial goals because they keep changing channels, going from one good idea to the next every time they hit a bump in the road and the going gets tough! Remember; Tenacity is a major characteristic of successful wealthy people!

Choose a niche you love (or could love) and focus on it relentlessly and you will become an expert. If you are the ‘go to’ person in a certain niche you will have opportunities coming to you rather than you having to go out looking for them!

Nobody is attracted to a person who hides in the corner and says and does nothing. People are attracted to energy so the more excited you are about what you choose as your niche the more the opportunities will come to you.

One last thing about choosing your niche; being an expert is not actually enough. You need to generate income from your expertise. For example, if you love collecting stamps, even if you become the best in the world you are going to have to do some creative thinking to come up with a way to turn that into an income generating niche.

You may find that collecting stamps does not generate income in itself however you may find you can sell information about how to collect stamps.

If you can solve people’s problems or give them more of what they love and you are well on your way.

And that is why in these last few e-mails I have been talking about how the internet has totally moved the goal posts. There are tools available online now that allow you to find out what people are looking for before you waste one ounce of energy trying to create something they are not looking for.

I go into this in more detail in the month we look at business in the Simple Wealth Steps course and I know Andrew and Daryl Grant will be talking about it at their Internet Secrets week-end in the middle of June. In fact, the way you can find out what people are looking for using these web-based tools is what made the massive change in Andrew and Daryl’s income and allowed them to generate $250,000 in just one year after learning about this. They explain in detail exactly what they did, how they did it and where to go to find the right tools (all for fre`e) at their Our Internet Secrets week-end.

Go to http://www.ourinternetsecrets.com/aff/?w=OIS4day&p=dwright if you would like to attend that week-end workshop on the 14th to the 17th of June. There are still some seats allocated to Simply Budgets so if this interests you the opportunity is there right now. I am actually thinking I will go for the first day. Unfortunately I have a family wedding on that week-end so will miss the subsequent days but one day will be better than none!

If you are going, let me know and hopefully I will get to say hello!

Oops I better stay on track! There are only two more Simple Wealth Steps to go. If you look back over the 9 we have covered so far you might look at them and ask the question “Is that it?” “Surely it’s more complicated than that!”.

No! They are Simple Wealth Steps that anyone could do. If you have dug yourself into a hole you will probably find it takes a bit longer to get out again and you may have more baggage to deal with but the steps are the same no matter what.

  1. IDENTIFY YOUR CURRENT POSITION
  2. DEVELOP A SPENDING PLAN (A Budget)
  3. DECIDE WHAT YOU WANT TO ACHIEVE
  4. IDENTIFY AND DUMP YOUR LIMITING BELIEFS ABOUT MONEY
  5. PAY OFF YOUR DEBTS
  6. REDUCE YOUR EXPENSES (Without having to feel like a Scrooge)
  7. INCREASE YOUR INCOME
  8. PAY YOURSELF FIRST – (Build a Launch-pad)
  9. CHOOSE A NICHE YOU LOVE AND BECOME AN EXPERT
  10. ?
  11. ?

If you are not already on the program I really want you to give it a go. Right now the first month is just a mere $14.95. This week-end most people will blow more than that on something they have nothing to show for afterwards!

I can’t make it much more attractive than that!

Click here to join me on an exciting journey of discovering things about yourself and money that you possibly knew about, but did not really know at all. Things that will help you develop new habits that have the power to change your direction. Things that change your views of yourself and what you are worthy of…. gee, I’m starting to get all fired up!

Let’s just say, the benefits will be amazing and I guarantee that!

If you do the Simple Wealth Steps course and take it seriously you will look back on 2013 – 2014 as the years that you changed direction.

Imagine not having stress over managing your day to day finances!

Everyone wants that!For more information on the Simple Wealth Steps program click here. There is no better time to put your toe in the water to see what the course is like than right now!

A huge amount of effort went into writing the course and I am really pleased with how it has turned out.

There is no contract so you only stay on board with me for as long as you feel you are getting good value!

Click Here to find out more.

If you signed up in the past and life got in the way and now you would like to get serious please reply to this e-mail with your name and phone number and I will give you a call to find out how I can get you back on track!

That’s all for today! Have a goody and a great week-end. I’m off to Adelaide for a CashFlow Clinic on Saturday. If you want to join me I have room for one more couple. Go to http://simplybudgets.com.au/financial-education/cashflow-clinics/.

Have a great day!

David