How Narrowing Your Niche Can Help Your Business | erincantwell.co

How Narrowing Your Niche Can Help Your Business

You’ve probably heard it before…”The riches are in the niches!”

And if you’re anything like I was…your first thought might have been “well that’s all fine and good, but I’m not turning down a paying client!”

I used to be all about casting a wider net…I wanted to help anyone and everyone I could! I accepted any-and-all clients I could find that I thought I could help.

But then, as I spent more time serving more clients, providing more services, and growing my business while juggling all the things…I started to realize there’s a reason this catchy little quote has stuck. 

It’s because it’s true.

So I tried it. I narrowed my niche and began focusing only on serving that niche and serving it well…and when I did, I began to see that not only did it help me and my business become more profitable, it also served my clients better and lowered my stress levels!

By niching down, I was spending my time in my zone of genius. My work was not only more effective, but my clients were also more engaged, and I began genuinely enjoying every project. I chose a niche I LOVE, with an audience I am passionate about serving, and work no longer felt like a grind! I wasn’t spending hours on projects and in spaces that drained me, I was spending my time working with people that inspired me, projects that lit me up, and seeing results across the board that excited me and made me want to serve my people even more!

Believe it or not, niching down has allowed me to build my business, pursue my passions, and make more money while working less!

So how exactly does it work? Let me break it down for you!

When you chose a niche you spend less time chasing sales!

If you’re spending a ton of time chasing sales, doing outreach, trying to convince people of your worth, and still hearing crickets…it’s probably time to niche down and get specific in your business.

By establishing your niche, you’ll gain a clearer sense of WHO you serve, HOW you serve them, and what problems you SOLVE for them. Getting crystal clear and specific in all of these areas makes your marketing and messaging a heck of a lot easier! 

With this clarity, you can speak right to your ideal clients. You can address their pain points head-on and reach them where they’re at, so that they will actually hear your message!

Once you niche down, you can also craft your offer more specifically with your ideal client in mind. This makes it far more likely that they’ll identify with it, see the value in it, appreciate the benefit, and will be willing to invest in your services!

You’ll no longer be casting a wide net with your marketing and sales efforts, but you’ll be more specifically targeting your ideal projects and clients. These clients and projects are better fits for your passions and skill sets anyway, which makes converting them to clients that much easier!

And then some more magic will happen…those happy clients of yours will go out into the world and word about you and your services will start getting out!

The more you serve your people, the more you will build a proven track record, show tangible results, and have all the social proof you need for prospective clients to see that investing in you and your services will pay them back ten-fold. 

Your network and reputation will grow, you’ll be seen as the go-to in your niche…and people will actually start coming to you and pursuing you for work, rather than the other way around! 

Before you know it, you’ll be filling up the pipeline with the highly qualified clients you love working with!⁣

You’ll become more profitable because you’ll become more efficient!

Think about it…are you more productive when you are juggling multiple things and constantly switching tasks and your focus? Or are you more productive when you really focus on one specific thing?

I’d be willing to bet, not only are you more productive when you focus only on the task at hand, but I’d also bet that the task you focus on gets done WAY better than any of the other tasks did when you were juggling all of them at once!

When you niche down, you can really focus on executing on one thing (or in one specific area) and doing it well! You are not spinning your wheels trying to get up to speed or learn new skills, platforms, industries, etc. all the time! 

On top of that, you’ll ALSO gain efficiency through repetition!

The more you do something the more efficient you get! This is true of virtually any repetitive task – the first time you do something it’s probably going to take you a heck of a lot longer to do it than it will after you’ve done it 100 times before! Because when you do something again-and-again, you hone your skills, figure out a few tricks, and some develop a little muscle memory.

Additionally, repetitive processes can be systematized! This means you can up-level your efficiency by optimizing your business to support your specific processes.

Now, don’t panic… I’m not saying every client gets the same thing or that you churn out the exact same product each and every time! I actually really hope that’s NOT the case because you aren’t a production line! 

But, if you think about your projects, you probably follow a similar process each time. You can make your life easier and move things along a lot faster, by putting systems in place to support those processes! These systems will help your business run like a well-oiled machine!

By narrowing down your niche, not only do you build skills, you build efficiency. And efficiency boosts profits like you would not believe!

People will pay more for specialized knowledge and skills.

Simply put – jacks-of-all-trades are great…but specialists make the big money!

If you want the ability to charge more, leave that jack-of-all-trades juggling act in the past and become a specialist!

Specialists can charge a premium because their results are worth it! They’ve honed their skills and their services are in demand!

One of the easiest and most concrete ways to think about it is to think about situations where the stakes are high. Take your health for example – if you get sick and need surgery, would you rather your general practitioner do the surgery or a surgeon who specializes specifically in the surgery you need? Would you be willing to travel further and pay more for that surgeon because you value their specialized knowledge and skills? Of course, you would…it’s a no brainer!

When you can serve your clients in a specialized, highly-skilled way, you’ll achieve results for them that they can’t get from just anyone or even from generalists in the field.

There are clients out there looking for your specialty skill set. They want the amazing results only a specialist can provide and they are willing to pay a premium for it!

So, if you’re really ready to take your business up a notch, it’s probably time to pick a niche.

The niche you choose to specialize in should be what you LOVE and are passionate about! It can be a product/service type that you’re especially good at (like logo design), an industry you’re interested in (maybe something like wellness), or even a specific ideal client (dentists for example)!

If you’re still not sure what that would look like, or how to make the leap, email me or schedule a free strategy call with me! I’d be happy to give you my objective opinion and share some insights to help you shortcut your success as you take your business to the next level!

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