The Riches Are NOT in The Niches

+ Time with family: A Personal Observation

My thoughts are wandering here in the heart of the DC area as I reflect on the wonderful time I spent with my parents during their first-ever visit to the United States.

We bid them farewell at the airport yesterday as they returned to India.

It's been an incredible 11 weeks filled with laughter, love, and unforgettable memories.

Earlier this year, my wife and I traveled to India with our two adorable daughters, ages one and three, and spent three wonderful weeks with them.

These moments have left our hearts brimming with gratitude.

This extended time with my parents has been a rarity for me. In fact, I haven't spent this much time with them in a single year since 2006 - a staggering 17 years.

Clearly, it's not a fact I'm particularly proud of, but it's also a testament to the incredible support and influence my wife has provided. She's been the guiding light, a constant reminder of the importance of family bonds.

The transformative power of fatherhood has fundamentally altered the way I perceive time.

Sahil Bloom's thought-provoking piece, "The Paradox of Time", struck a chord with me. He eloquently highlights that while our time is undeniably finite, we often fail to fully appreciate it until it's too late.

It's a sobering realization that hits close to home.

Sahil's message revolves around a simple yet profound truth: "The days are long, but the years are short."

The impact of this statement is profound when we consider a few essential questions that require some basic arithmetic:

🌟 How many more opportunities will we have to be in the comforting presence of our aging parents, especially when they live far away, as mine do?

🌟 How often can we gather with our closest circle of friends for those cherished trips, as responsibilities and distances tend to grow?

🌟 How many more times will we wake up to the sheer wonder in the eyes of a child who believes we are their entire world, oblivious to the passing years?

We may have fewer answers than we'd like to believe to these questions.

As we navigate the complicated journey of life, we must acknowledge the trade-offs, question our assumptions, and ask the tough questions.

By facing these challenges head-on and embracing the simple math of life, we can truly appreciate the value of time.

A life filled with purpose and fulfillment begins with recognizing its finite nature.

To truly appreciate the value of our time, we often need a wake-up call. Make the most of the moments we have while we can.

I wish you a life filled with gratitude and a future illuminated by the beauty of your own experiences.

The Riches Are in The Niches?

"The riches are in the niches," is still a popular saying online.

A piece of advice that is both revered and feared, especially by those who are just starting out.

Finding the perfect niche can often lead to confusion, overwhelm, and anxiety.

Many newcomers to online business believe that their chosen niche must be profitable from the start, or they'll fail. Their misconception can lead to a whirlwind of activity:

πŸŒͺ️ Jumping from one niche to another in search of elusive riches.

πŸ“š Learning valuable skills related to each niche (which isn't necessarily a bad thing).

🚫 Ending up with empty pockets and no substantial progress to show for their efforts (which is definitely a bad thing).

Throughout my life, I have consistently challenged such beliefs, especially in business. Often, these beliefs are ingrained as unquestionable truths.

Sure, they produce results, but not always the best. Some flock to these beliefs, shield themselves behind them and attack those who suggest that there might be another way.

The world of business education can in many ways resemble that of politics or religion - filled with ideologies that can obstruct opportunities.

The landscape of business has undergone a seismic shift with the rise of social media, creating a marked divergence between traditional marketing models and audience-building approaches that nurture relationships over time.

Sadly, much of what you find on the internet is outdated, and not aligned with today's most effective practices for thriving. Many people feel limited to discussing only one specific topic related to their offerings. They fail to realize two things:

1️⃣ Your products or services naturally interest you.

2️⃣ You're probably following 100-1000 individuals with diverse and seemingly unrelated interests on social media as well.

Why should you limit yourself to one interest if you follow people who discuss a multitude of interests? You might not know how to make your other interests captivating to others, not that they won't be intrigued by them.

There is also the myth that going broad instead of niche will dilute your brand to the point of financial ruin. Consider YouTubers, podcasters, and modern-day influencers to debunk this myth. The code has been cracked by:

🎯 Offering beginner-level guidance on top-of-funnel.

πŸš€ Offering intermediate to advanced content through low-priced and high-priced products and services.

🌟 Discussing not only business but also topics that are connected to the performance of the business, e.g. mental health, routines and life-hacks, and self-improvement etc.

Modern business requires forward-thinking professionals who understand human nature and how to navigate it.

We must break free from old-school thinking and explore the wide range of possibilities that lie ahead in the new business frontier.

Focus on audience-building, and it’s not limited to a niche. But think more holistically and craft topics that are connected.

Interesting Thing That I Read This Week

A great post by Kieran. Here our my thoughts on it -

For brands, it will be all about B2B Creator partnerships. Rope in a group of creators that will be relevant.

For creators it will be all about the shift from not just focusing on audience building but also engagement and retention, considering building audiences will only get more difficult and competitive.

Tweet That I Noticed This Week

This is 100% true.

What Do You Think?

This concludes this edition of Fresh Salmon.

I would like to hear what you thought of today's newsletter.

Also, let’s connect on Twitter, LinkedIn, or TikTok.

Cheers,

Vivek

PS. I love you ❀️