Let’s explore whether your firm should niche, drawing from my own personal experiences.
I’ll also dive into the challenges many firms face when niching.
Listen below.
0:42 For years, countless experts, vendors, and groups have urged us to niche, promising it will enhance our service impact and simplify our marketing efforts.
0:58 When it comes to marketing, nothing is more powerful than stating you serve a specific group of clients and help them achieve the exact results they’re after.
1:27 I launched a cloud accounting firm back when clients were still unfamiliar with the idea of working remotely with their accountant.
2:03 I initially focused on tech startups but chickened out and broadened our niche to include service-based businesses. Fully niching felt too risky at the time.
2:37 Looking back, if I were starting a firm today, I’d likely focus on a single industry and aim to be the very best in that specific field.
3:23 I always say the same thing: You don’t have to feel forced. If it doesn’t feel natural, then don’t do it.
3:44 If you feel stuck, try narrowing your focus iteratively until you’re completely comfortable with your decision.