Should you go balls deep into a niche?

Half the time you’ll question why you were so stupid. The other half you’ll be fcking glad you did.

When you niche, it’s not so much that you’re turning away business, it’s that you’re very clear on who you actually want to work with. Your ideal client. But the scariest aspect is when you realise how much money you're turning away. It could be thousands and it's horrendous the first time you do it.

I’ve covered in detail how to choose your ideal client, but more and more I’m speaking to people who want to niche into a sector.

So, should you?

Tbf, niching into a sector is 3rd on my list of shit to do.

1st, you niche until you have 1 exceptional offer. Then you niche personality. Finally, if you need to, you niche industry.

Now this can be a bitch if you’re in an industry where everyone does the same thing (think insurance brokers, ifas and accountants) because your differentiator is so hard to find. Therefore, going industry specific isn’t a bad way to start, before then doing the personality profiling. It’s also hard to do just one thing in these industries as so many services get chucked together.

The problem more people have is that there are so many options, how do you choose the right one?

It all comes down to what you give a shit about.

What do you care about? If you’re niching down to an industry, you need to be able to learn everything there is to know about it. You need to immerse yourself into their world. If you’re not interested in it, the learning aspect becomes a chore.

I’ve been working with an insurance broker recently and the start of our conversation was around what do you care about? Who do you want to work with?

For him, it was a question he couldn’t answer right away. Dedicating your entire business to working with one sector is a huge decision to make.

But if you’re not in that sort of industry, say you’re a graphic designer, do you need to niche into sector?

No. You don’t. You can, but it’s way more important to have 1 solid offer alongside a nailed down personality profile.

It’s much easier to market yourself as an expert in a service than someone who can do everything.

If you become the go to person for one thing, you’ll stand out above all of the other companies that do everything for everyone.

Going back to the graphic designer, if you just do branding and nothing else, what would you be turning away? Brochures? Banners? Maybe even websites. But if you’re the best at branding what could you charge? What would people pay for the best?

Never forget, a premium product commands a premium price.

So niche if you must. But make sure you commit fully and go balls deep in it.