Riches In Niches

Posted on: May 9, 2007

While we are all inclined to say that “our business can help anyone” is that really the smartest path for your business? Lets look at a simple commonplace example.

If you are having knee problems, do you go to a family practice doctor, or do you go to an orthopedic specialist? Well, I go to the orthopedic specialist and I would guess most of the rest of America does too. And you (or your insurance company) usually pays more for a visit to the specialist. This is just one example of many that I could discuss, but you get the point.

You see, we’ve been taught in today’s society to go see experts. And we’ve also been preconditioned to pay these experts more for their services. This is a perfect example of Niche-ing. While you may be tempted to be a generalist so you don’t turn clients away, I challenge you to look at your business to see if there are any segments of your business that are causing you problems, and get rid of them. Narrow down your expertise and serve a niche. You will be surprised to find, like many of our clients have, that when you focus on a specific niche, business is actually easier to find.