You’ve carved out your corner of the freelancer market. You’re the ‘go-to’ person for a specific thing thanks to your commitment to your craft. Being known for something specific is incredibly powerful. But, with AI transforming everything, and as you yourself change, it’s worth taking a moment to reconsider your trajectory. Sometimes, what got you here might not be what takes you where you want to go.
Now is as good a time as any, to be honest with yourself. Are you still keen on your freelance patch? Your niche? Or does it feel a bit…stale?
Perhaps the market’s shifted, or perhaps you’ve shifted.
Maybe you’ve picked up new skills, or your passions have evolved. Either way, it’s worth asking: is your current niche still the best fit for you? For example, if you changed your niche would you have a greater chance of working with your dream client bucket list?
No one wants to feel stuck
You don’t want to wake up one day and realise you’ve spent years on something that doesn’t light you up anymore, or worse, something that’s becoming obsolete.
Rethinking your niche isn’t about throwing everything out the window though. It’s about being smart and adaptable. It’s about looking at where you are, where you want to be, and figuring out if the path you are on now is still the best way to get there.
Maybe it’s a small tweak. Maybe you stretch your expertise into a related area. Or maybe, just maybe, it’s time for a bigger shift into a new sector, skillset, target audience and/or client type.
Think about these questions:
- Is my niche still in demand? (Are people still paying for what you do?)
- Am I still passionate about it? (Do you still enjoy the work?)
- Are there new opportunities in related fields? (Could you use your skills elsewhere?)
- What are my long-term career goals? (Does your niche align with them?)
There’s no right or wrong answer. Although, some responses may even inspire you. Or hit a nerve, making you realise you could feel more fulfilled by making a change.
It’s about having an honest chat with yourself. If you’re feeling a bit lost, that’s perfectly alright. Reach out to a careers coach or jump on a freelancer community chat so you can talk through with a mentor or fellow freelancer to explore your options and make a plan.
Are some niches better paying than others?
Now, you might be wondering, Where’s the money going to come from? Certain niches in the freelance economy consistently command higher rates, and there are good reasons why.
As Freelance Magic puts it, rethinking your niche doesn’t mean starting over from scratch. It’s about being proactive and adaptable, reassessing your path to ensure it aligns with your goals and the evolving market.
Freelance Magic suggests several strategies for selecting a profitable niche. To begin, consider combining two of your passions to create a unique offering. Alternatively, explore various niches to discover where your true enjoyment lies.
Analysing competitors can reveal untapped opportunities within the market while tracking emerging trends allows you to capitalise on growing demand. Finally, a 30-day experiment provides a practical way to evaluate the viability of a new niche.
For instance, those with abilities in highly technical fields are often in demand. Consider:
Cybersecurity:
With increasing online threats, businesses are willing to pay top dollar for those who can protect their data. As seen from resources such as Millo.co, cybersecurity professionals are highly valued.
Software as a Service (SaaS):
Companies rely on SaaS platforms, creating a need for freelancers who can develop, implement, and manage these systems. Freelance writers who can create content for SaaS companies, especially white papers and case studies, are also in high demand. Smartblogger.com highlights that these types of content creation are high-paying.
Finance and Cryptocurrency:
These are complex fields needing specialised knowledge. Freelancers who can break down intricate financial concepts or navigate the ever-changing world of cryptocurrency are highly sought after. Resources like FreelanceMagic.co detail the high earning potential of these niches.
Digital Marketing Specialisations:
Especially those who specialise in niche social media management, or YouTube specialist roles, as discussed on sources like Factofly.com. These digital marketing roles are becoming more and more valuable to businesses.
Why do these niches command higher rates?
- Scarcity of skills: These areas require specialised knowledge that not everyone has.
- High demand: Businesses are willing to invest in an ability that directly impacts their bottom line.
- Complexity: The work is often intricate and requires a high level of problem-solving.
Of course, passion has something to do with it, too. However, understanding where the market is heading can help you make informed decisions about your career. Don’t be afraid to ask yourself the tough questions. Don’t be set in your ways or stick with what feels familiar. Sometimes, the best part of everyone’s career journey is taking a detour.
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