Most business owners feel like they need to offer a wide selection of products or services to a non specific group of people. After all it makes sense right, to go after a bigger market with a wide choice of options for your customers to choose from yeah?
Well that might work for a supermarket or a large department store, but rarely do I see this working for small business owners.
Rather than trying to be all things to all people, look to find the niche product or service that you are an expert in and go deep into that niche. The fact that you exclude people in the process is a good thing as it auto-selects your ideal client or customer.
Think about it, if you owned a cafe would you prefer to do business with a consultant that “helps you grow your business” or would you prefer to deal with a consultant that specializes in cafe’s and “helps you to grow your cafe business”? The latter right – I want a specialist not a generalist. Sure the cafe consultant excludes all other business owners, but they get the chance to specialize in a niche that has a significant number of business owners in the cafe business.
It also works in the medical profession. If you want surgery you are usually referred to a specialist – be it oncology, ear nose and throat, cardiac etc etc. They specialize in a specific niche and get paid handsomely for doing so – in most cases much more than a GP
Look at what you do much better than anyone else in your field and become an expert in that. The pay off for going an inch wide and a mile deep will be significantly more than going a mile wide an an inch deep
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