The document discusses three common misconceptions about niche. It states that niche is not something static that is chosen from options, but rather how one defines their place in their community. Additionally, niche is not just research data, but rather fluid and adaptable. The document also notes niche is not static or something that is set and forgotten, but rather constantly evolving. It provides three "niche reframes" challenging typical views of niche and provides a link to further questions about rethinking marketing strategy.