One of the most asked questions I get from complimentary strategy sessions with new clients is “Why do I need to narrow the market I serve?”.
Most new entrepreneurs want to serve everyone. This is the first hurdle to overcome.
This questions usually comes about when we discuss “next step” after exploring strategies in the session. At first glance, going for a smaller group of people if you want to make the most profit seems counter intuitive. Yet, this is one of the most fundamental issues in business building, whether you are building an online or offline enterprise.
Getting this right will save you lots of headache (and heartache). Going with the flow will not allow you to stand out. Choosing to be special will allow you to experience the magic of being focused.
With focus you will get more work done more efficiently and with that more income. Why is that so? Because being focused allows you to you be the specialist (not the generalist) with expert knowledge and skills to serve a group of people with a very unique issues.
Would you rather be a general physician among the many others in your local area or would you rather be the specialist? Apart from being able to charge premiun fees, there are many other advantages to being an expert.
Get this right and you will be saving your business building a lot of time and effort and your business will grow a lot faster (and healthier).
Here’s a 2-minute video that discusses why you need to have a niche and be different from others. The video has a case study which explains how one famous company is doing well with this strategy.
Watch this short video, then rethink the issue.
This home study course has modules with business fundamentals that has been cherry picked from a full blown 3-month Rapid Buisness Growth Coaching Program. It gives you what you need to start up or tune up your online business in a digital self-paced online learning format. It will demonstrate the strategies discussed in the book on business building that I recently published.
Don’t skip this video. It deals with your first hurdle to business building. Get this right and you will be on your way to growing your business. Let me know your thoughts after watching the video and share it if you know of someone who may find this helpful!