TLDR:
- The right avenues are the ones that most interest you, for it’s the easiest dopamine release you could ask for. Why wouldn’t you be excited to engage in an avenue generating endless sparks in your mind?
- But there’s also another step in the ladder: threading the fine line between the intersection of your interests and the market. You can’t do anything about a demand-side issue in contrast to supply side.
- As Alex Hormozi says, the riches are in the niches. Niche down to a segment that best maximizes your talent and earning potential.
- Think about a sports analysis newsletter vs fantasy sports newsletter. Which one is more likely to generate more consistency in building a reader base and attracting people who would be interested in spending money for insights?
Releasing your energy where you’re supposed to
Just now, I read a subreddit post on r/entrepreneur on a user talking about how after talking to a successful entrepreneur about Attention-deficit/hyperctivity disorder (ADHD), he booked a doctor’s appointment, got prescribed a slow-release dopamine booster, and one of the positives he experienced was being able to channel his chaotic energy with ease.
It’s got me thinking, “how can you find the right avenues to channel your energy?”
Two groups of people are coming to mind in answering this question:
- Those who expend their energy in all sorts of avenues without any sense of direction
- Those who have pent-up energy but don’t know where to channel it
Initially, what came to mind was that this was essentially a Type A and Type B scenario, but quickly finding some research on the correlation between ADHD and Type A would disprove this presumption.
Regardless, the answer is right under our noses irrespective of your group: avenues that most interest you.
As blatantly obvious as it may be, that’ll be the easiest dopamine release you could ever ask for, as you’re engaging in an avenue generating endless sparks in your mind for you to connect.
But of course, one must also thread the fine line between interests and the market to find the ideal intersection of both worlds, for if there isn’t a major issue in the supply side of things but rather a lack of demand, then you can’t do much about it.
However, it shouldn’t necessarily discourage you entirely.
Alex Hormozi would say to niche down as much as possible, for the riches are in the niches, and indeed it is.
Think about it this way: suppose you have a particular interest in a sport, are well-versed in it, and happen to have a knack for writing.
Naturally, the thing that may come to mind is to start a newsletter where you write on certain topics and narratives on players and teams, but you find that despite putting the reps inconsistently, it isn’t translating to the level of success and growth you were hoping for.
So what’s the next best alternative?
It’s simple if you think about it: serving the fantasy segment of that sport’s audience.
In any major sport, the market for its fantasy will be vast, with its users much more willing to spend money on insights they can’t find elsewhere if it increases their probability of earning high profit on the next game.
Even if the success and growth metrics aren’t really at the bar you anticipated them to be by the current junction you find yourself in but find that you’ve amassed a healthy enough reputation, it indicates that a sense of trust has already been garnered within the overall augmented niche audience itself.
People trust you in knowing what you’re talking about, so it’d easily be the case for fantasy users.
So even if you expend your energy daily towards countless avenues or have pent-up energy but can’t even think of one avenue to channel it all towards, finding the right one is as simple of a process as it gets: what most interests you, and then threading the fine line between the intersection of that and the market to niche down to a segment that best maximizes your talent and earning potential.