A business strategist with over 20 years of experience weighs when to switch niches versus staying put. The core tension: exploring new areas versus doubling down on what already makes money.
Is hopping from one niche to another niche bad for your business? Let's settle this once and for all. Which niche should I choose is a big question when it comes to entrepreneurs and online businesses. And there are so many different opinions, so much varied advice about it online. You see, I've been in this industry myself for over 20 years and generated tens of millions of dollars in super small niches. And I can tell you this, here's the truth. It's both good and bad. You see, if you're trying to learn, it's good because in each niche you'll be exposed to different types of customers, different styles of marketing and different ways to make the sale and so on. But. And there's a big but. If you're trying to make maximum money, the maximum that you can make, it's bad because you can't leverage your customer base from one product to the other. You don't develop mastery of selling to a particular customer, and you don't learn the true leverage points of that particular business in that particular niche. So if you're young and you're trying to figure out stuff and figure out what you want to do, sure, hop from niche to niche until you find that one that you believe is best for you. But if you're at the point where you must make money, as much money as possible, then it's time to pick one and go all in.
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