Finding Your Niche Within The Niche
Getting the CDFA® credential and becoming a Divorce Financial Analyst, DFA, is typically a decision that is made when a professional has decided to create a niche business in divorce. However, in order to be truly successful, it’s just not that simple. Most new practitioners don’t realize there are about 10 different sub-niches within our business and the sooner you figure out which one you want to focus on, the better are your odds of success.
This is such an important decision that we focus the entire first session of my Business Blastoff program on it. Until you work this out, you can’t build an effective website, create marketing materials, or even create a basic marketing strategy because you really haven’t defined your target market at all.
You must define your target market in order to even create a basic marketing strategy
So, to help you get clear about where you belong, consider the following questions:
- What drew me to this business?
- What am I passionate about?
- What do I already know? Where am I the expert?
- Which area am I drawn to – Mediation or Litigation?
- Am I trying to gather assets for wealth management also?
- What will my employer allow?
- Who do I want to work with?
- Who would be naturally drawn to working with you?
- If you weren’t afraid, what would you do?
Once you’ve worked through that, think about the following sub-niches and what makes sense.
- Financial Affidavits Only
- Pension Valuations
- Executive Compensation
- Income Available for Maintenance
- Lifestyle Analysis
- Forensic Accounting
- Children with Disabilities
- Financial Planning
- Creative Settlements
- Retirement Plans
- Friend and support to women
- Men only
- High Net Worth
- Public Safety Workers
- Gov Employees
- Specific Companies in your area
As you can see, there’s a lot more to this than just focusing on Divorce. If you’re feeling overwhelmed, consider joining us in the next group of Business Blastoff members for everything you need to know to build a strong practice from day 1.
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