This morning, I came across a post on Instagram by Apurv titled, “Everyone says find your ‘niche’, but no one tells ‘how’?” Naturally, I thought, “Great, a post with good advice.” But as I swiped through, I felt it missed something important.
Apurv’s perspective isn’t wrong — it’s actually a great starting point. But as I thought about it more, I realized that while it highlights feasibility (what you can offer) and desirability (what your market wants), it misses a crucial third ingredient: viability — the ability to make money, sustain yourself, and grow profits over time. Without viability, the advice doesn’t fully apply to someone trying to build a long-term, financially successful business.
Here’s how I see it.
If you’re running a lifestyle business and profitability isn’t your top priority, Apurv’s framework is sufficient. But if your goal is to build a sustainable business — one that can support you, your team, and your stakeholders — then viability is key. Without it, you can’t scale or stay afloat.
Let’s take the example of shareholders. Shareholders make money when you generate profits. They get nothing if you don’t break even. And I’m not talking about market caps or short-term valuations here. I mean long-term financial success — the kind that benefits everyone involved, not just those chasing immediate returns.
That’s why I believe a niche needs to address all three elements:
• Your Market — People who need what you offer.
• Your Passion — What you genuinely enjoy doing.
So, How Do You Find a Niche?
For a specific problem, there’s a market, and within that market, there are players already serving it. Each of these players focuses on their own segment, which they serve profitably. For example:
Now, imagine this market as a pie, with each slice representing a segment. Each player has already carved out a slice for themselves. If you’re entering this market, you’ll need to find a sliver they aren’t focusing on or serving well. That’s where you can wedge yourself in.
An Example from My Own Niche
Let me illustrate this with my own experience.
When I was starting Funding Pitchcraft, I looked at the fundraising landscape for startups and saw the following players:
• Consultants and advisors helping mature startups raise their next round of funding.
• Public speaking trainers and coaches, some of whom might work with founders.
• Generic courses on fundraising that often felt too broad or expensive.
• Advisors teaching the process of fundraising or offering connections to investors.
What I noticed was this: very few were focused on helping founders improve their investor pitching skills. Pitch deck reviews existed, but they didn’t cover other investor interactions like emails or interviews. Public speaking courses didn’t address pitching either. And fundraising courses often lacked actionable insights tailored to early-stage founders.
That was the sliver I decided to focus on. I combined elements of public speaking, design, investor relations, and coaching to carve out a space for myself.
It’s not a huge market. Many founders reach out for things outside my niche — like connecting with investors or writing business plans. I turn them down and direct them to others who specialize in those areas. I stick to the small segment of founders who understand the importance of pitching skills and are willing to invest in improving them.
If I had to draw a Venn diagram to answer Apurv’s question, “How do you find a niche?” it would have three circles:
• Your Market — The people who need what you offer.
• Your Passion — What you genuinely enjoy doing.
• Differentiation — What makes you stand out from others in the space.
The intersection of these three is what I call your niche.
Here’s how you can use this framework:
• Start with the market. What problem are you solving? Who else is solving it?
• Look for gaps. Which segment is underserved or ignored? Where can you add unique value?
• Validate viability. Can you make this profitable? Is there enough demand for your offering?
By the way, both the Instagram post by Apurv and my explanation align with formal definitions of niche.
Here’s one from the Merriam-Webster Dictionary that support’s Apurv’s interpretation: “A place, employment, status, or activity for which a person or thing is best fitted.”
And here’s another from Cambridge : “Interesting to, aimed at, or affecting only a small number of people.”
If you’re building a lifestyle business, the first definition may be enough. But if you’re aiming for long-term growth and profitability, the second definition — focused on specialization and market gaps — is what you need.…Read more by Ravi Warrier