Understanding Business Language

By IICT Member Ginny West, Spirit in Business 

Trying to understand business terms from a spiritual perspective can be a little overwhelming, so here’s a little breakdown on some common business terms for clarity, and how they might relate to your wellbeing practice.
 
 

Niche

Your niche is your specialty. From a spiritual perspective your niche is your heartland or deepest purpose. It is what makes you different from other practitioners in your field. It is what you were born to do. I often see clients becoming really confused when trying to define their niche because they are essentially trying to solve two problems at once; finding their niche and finding their target market. Niche is born from inside the heart and soul, and target market is where you will be directing your energy externally. When you look at them together you’ll end up going around in circles in your head, so the trick is to totally forget all about your target market until you are super clear on your niche or purpose. Remember what you teach or practice needs to come out from the depths of your being, not be something you plaster on to win favour with a certain group. That way your audience will get your deepest work, and you’ll feel utterly fulfilled.
 

Target Market

Once you’re really, really clear on your work, trust me you’ll know just who to deliver it to. Your target market is the unique tribe you have come here to help. You are perfectly matched energetically, so the sooner you start speaking your truth, the more people will magnetically appear. Apart from that the most powerful forces are making great partnerships with like-minded people and brands, creating a streamlined social media campaign where your tribe hang out, and getting out there to real life to events where people can connect with you. Building your tribe takes time, so stick with it and don’t give up. Don’t ever change who you are to gather more people for the hell of it. Stay loyal, and so will they.
 

Brand

Your brand is the personality, energy or aura that surrounds your business. This is present in the look, feel, service and language of your business. It’s both tangible when people come into direct contact with your products and services, and intangible where people make assumptions via your image, language, posts or reviews on social media for example. Think about what energy you feel you would like to send out into the world via your business, and make it genuine and aligned with who you are. There’s no point trying to send out quirky, wild and free when you are calm, centered and peaceful. You can think of values and personality traits that you love, highly regard and emulate. What would you like people to say about you, how would you like them to feel when they leave you? Your brand should shine out from the depths of your business and be present in all aspects of your customer service.
 

Marketing

So we often think of marketing as advertising, but it is a much richer practice. Put simplistically advertising might be the Facebook event or ad you have created with venue, pricing and description attached so people can buy. Marketing might be your general news feed about who you are, and what you do. Marketing includes advertising as well as PR, market research, deciding how you’ll package your product or service, what you’ll charge, who you’ll deliver it to, design, customer service, image and so on. It’s about raising awareness and culture around your business. Marketing is about making yourself visible and attractive to your target market.
 

Putting it all Together – an example

Let’s say Jane is a Yoga Teacher and she decides above all else she loves long, slow deep yoga; that’s her niche. Jane can offer Yin Yoga workshops for people with injuries, for busy folks who are desperate to slow down and ground, for people with low flexibility, for busy mums desperate for time out, for seniors, for athletes and so on. They are just some of her target market options. So who would she choose? Usually the answer comes from personal history and experience, and Jane was a professional athlete herself and still loves the outdoors, and competing in events so she decides to focus her attention on Yin Yoga for Athletes. Her brand personality balances vitality and rest, radiance and self-care, energising and grounding. Jane markets her classes, workshops and seminars at health and fitness expos. She offers warm ups and cool downs at triathlons and athletic events, has an injury prevention column in fitness magazines, talks at industry conferences, approaches the Australian Institute of Sport, Footy clubs and so on. Jane leads an overseas mountain climbing retreat once a year, ending the day with Yin Yoga and meditation. She raises her profile through marketing herself online, through partnerships and out at events, expos and fairs that relate directly to her audience where she can showcase her niche and let them know how important it is to care for your body and go deep into yourself.
 

Try it Out

So why not try it yourself? If you’re having trouble narrowing in on your niche try a few options on for size following the example above. How would each chosen niche look and feel? Who would you deliver it to? What brand partnerships could you form with each option, what events would you attend and so on?
 
 
About the Author:
 
Ginny West provides business consultations, workshops and retreats around Australia on creating heartfelt success for Wellbeing practitioners. To find out more about Spirit in Business or to contact Ginny West call 0413 596 784 or follow these links:
 
 
 
 
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