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No Niche Is Too Small

Name: No Niche Is Too Small
Uploaded: 2024-08-20T14:00:40+00:00
Duration: 34 s
Channel: Shanli Liu, CPA, CTP
Description: In this concise business‑strategy clip, Shanli Liu, CPA, CTP argues that no market niche is inherently too small to generate massive revenue. She…

20 Aug 2024 · 1 min

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0:34

In this concise business‑strategy clip, Shanli Liu, CPA, CTP argues that no market niche is inherently too small to generate massive revenue. She illustrates the point with a registered dietitian who serves insurance‑covered obesity patients, noting that even such a specialized service could scale to $40 million annually if expanded tenfold. Liu advises founders to begin by mastering a niche they can dominate, then only consider broader or adjacent moves when the potential upside is at least ten times current revenue—not merely a modest increase. The core message is to prioritize deep demand and mastery before pursuing expansion, aiming for high‑impact, 10x growth opportunities.

Chapters

I've yet to find a niche that's so small that you can't do $100 million a year in it. I've yet to find it. Like even my registered dietitian lady who helps people bill insurance, like that's a big market. Like the big problem of obesity and insurance, who pays for it? Like there's a huge need there. And if she becomes 10 times bigger, she could do $40 million a year. So just start with what you know you can master and crush and then move on. And you don't really want to go broader until you have so much demand that the opportunity of making the expansion more than nets you your current revenue. So it's not like you don't want to make an adjacent move for a double, you want to make an adjacent move for a 10x.