Andy Neary explains how narrowing your niche expands your reach. A commercial insurance broker who focuses only on final-mile delivery companies like Amazon and FedEx serves customers nationwide, while generic advisors stay local.
Chapters
The farther you niche down, the better it is. Remember, a niche can be an industry, a skill set, or strategy. The farther you niche down, the better it is. We do business with, uh, one of our clients sells commercial insurance to the final mile industry. Anybody know what the final mile industry is? Amazon, FedEx, companies that are at the, they literally deliver the product. That's it. That's that niche. Guys, they have clients all over the country. Why? Because they're so niche. The more niche you go, the wider your market gets today. The people who are hanging a shingle now, or hanging a sign on a shingle and say, we're an advisor, come one, come all, are very localized today.