A short spoken excerpt (YouTube comment/workshop) by Eric Deeran arguing for niching down in video production/business services: specializing in a specific type of video or client both reduces competition and allows you to charge higher, moving from commodity pricing to "category-of-one" pricing based on specific expertise.
Alright, so why niche down? Well, the number one reason is like if you have a bunch of people saying we create videos for businesses, right? But then you have one person that says we create a specific type of video for companies, who do you think is going to be able to charge more? Right. It's the same thing as the general practitioner versus the person who is specific in one category. The other side of this too is that it fundamentally eliminates more of your competition, so it makes it easier for you to charge more. Get out of commodity based pricing and more so get into category of one based pricing where you can price higher for the same thing because you have a specific expertise.
