Sally Curtis explains the 96/4 principle: focus on a narrow market segment to eliminate competition, position yourself as a specialist, and charge higher fees. Specialists get more referrals because clients want experts for specific problems, not generalists.
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What do you achieve with that element of niching? Because obviously that's a big word like marketing is. We all hear that we need to niche, but let's hear your thoughts and your ideas around what that means and what the opportunities are.
Well, foundationally, once again, it's this 96/4 principle where you're really just zooming into something so small. And what that really helps you achieve is, first of all, less competitors or no competitors. Uh, it allows you to position yourself as a specialist, which is where you can charge a lot more for being that specialist. And if you think about it, if someone specializes in something and solves a problem for you, you're very likely to refer them in the future for a particular thing as well. Because, you know, while a lot of people love the whole jack of all trades, uh, setup, um, they don't really get as many referrals based on the fact that they do things, you know, average. You really want to make sure that if you refer someone, they are the expert, they're really good at something specific. And that's typically how half of the referrals are done.
