Speaker (Eric Deeran) relates an anecdote advising a client to niche—specifically to focus a video business on working with coaches rather than general businesses. He argues niching simplifies marketing and sales, enables accumulation of targeted case studies (e.g., "60 case studies") that make selling easier, creates leverage, and leads to outsized returns despite being narrower and more work up front.
So I was talking to one of our clients today and he was deciding between should he niche down or should he continue the way he is. And basically what he had brought up to me is he is working with. He wants to work with general businesses in his video business, but he also really enjoys working with coaches. And so I said to him, I said, why not just go after the coaches? Why go after the general businesses as well? And he just said, well, because I've worked with them before. And I said, well, why don't you just go all in on just working with coaches? Do you know how much easier that's going to make your job when it comes to marketing, sales and then getting clients? If you had 60 case studies with those types of people, how much easier would your life be when it comes to selling that service? It's a lesson that I had to learn. Hopefully you can learn this lesson early on because I wanted to be everything for everybody, when in reality you need to be one specific person. And yes, it's boring, yes, it takes a lot of work, but that's where you get the outsized returns and that's where you actually make the real money, is because you have leverage working with one specific type of person.
