A speaker explains why trying to help everyone is counterproductive for businesses and service providers. They argue that niching down—focusing on a specific client type—allows you to tailor your approach, communicate specific value, and become the obvious choice rather than one of many interchangeable options.
Chapters
Anyone saying you don't have to niche down is lying to you. Now, I understand the thought process behind this, right? Because it feels like you're cutting yourself off from potentially otherwise good clients by niching down. But the reality is, if you're trying to speak to everyone, you're trying to attract small business owners or real estate investors or something vague, you can't get very specific with what you can do for them. Because your approach with a lawyer is going to be different from your approach with a real estate investor versus your approach with an E comm business. And so, by niching down on who you help, you can get really specific on the value that you provide provide to that type of person. And it makes you the obvious choice. It makes your firm appear as one of one rather than one of many options where they can shop around and get the best price.