A CFO niche needs four things: clients who see their problem as urgent, revenue over $1 million annually to afford your fees, a market growing faster than inflation, and a U.S. addressable market above $100K for paid ads to work.
What makes a good CFO niche? And when I think about the different niches that we have, I want to think about how bad of a problem do they have as perceived by them. If they do not perceive that they have a problem, they don't have a problem. Therefore, they're not going to be willing to pay you. Next thing is money. Do they have money to pay you? Do they make over a million dollars a year? Because you want them to be able to pay you several thousand dollars a month. Typically, you want greater than 1 million per year. Next thing is growth. Is the market growing? Is it decreasing? I want to look and I want to go Google what is the compound annual growth rate of the market. When we're looking at that, is it growing faster than population growth and inflation? Next thing I want to talk about is targeting. Can you get in front of them? I want to look for a total addressable market greater than $100K in the United States. Why do I want that? Because I want to go after them with paid advertising. It's a lot easier to go after them with paid advertising to put multiple calls in your calendar a week or even a day so you can get new clients.
