Are you ready to make more money, be passionate about what you do, genuinely enjoy your work, and connect to your clients? Then the answer has always been in front of you. You just had to narrow your focus.
Welcome to Snapreads! Today, we’re going to list the nine reasons why you should niche down and narrow your focus. Let’s get started!
It Helps You Find Your Ideal Customer
The first and one of the most compelling reasons it is vital for you to narrow and niche down your focus is to attract your ideal customer. Now, please close your eyes and picture that perfect customer. Do you sell merchandise, so your target is a particular fandom? Is your business related to health? So you’re targeting those who want a healthy lifestyle?
Most people, especially when their business is still in relative infancy, don’t know who that ideal customer is or who to attract. At this point, you’re just trying to get traffic, no matter where or whom it comes from, so being picky is the last thing that should be on your mind.
But what if we told you that you’re wrong. You never turn down a client, but if you go chasing everyone without knowing who you truly want to work with, you’re going to end up with your business going in another direction than you originally intended. You’re going to end up catering to those better off with someone more experienced in what they want.
Every business has a niche. Let’s take therapists, for example. A couples counseling therapist won’t be the best pick for a therapist whose focus involves treating traumas.
Niching down helps you identify your ideal clientele. And only then can you deliberately market to appeal to that customer. That’s how you can grow a business that you’re genuinely passionate about and that you truly love because you’re helping people while doing what you love.
by Robert Greene
⏱ 16 minutes reading time
🎧 Audio version available
It Hones Your Skills
Coming in at number eight– when you have a niche, you’re able to narrow your focus and not only hone and sharpen your skills, but you’re also able to become an expert in that niche.
You’ll find that customers, especially those willing to pay exorbitant amounts of money, prefer experts to deal with. And as you can probably guess, it’s impossible to become an expert and have knowledge about every single part of the industry that you’re in.
However, it’s nearly a breeze to become an expert in a narrow niche. You’re already passionate about it; then the rest will come along. And when this happens, your work becomes even more exciting and thrilling as you can feel comfortable devoting more time to learning more about the niche you already enjoy.
You Won’t Be Spreading Your Energy Thin
Of course, you can hunker down and dip your hand in every part of your industry, and you can try to cater to every client– and sometimes, you may even succeed in this over-ambitious venture, but then you stumble upon the worst obstacle.
You’re burnout. You’re overwhelmed. It’s inevitable.
But here’s your solution, wrapped up in a pretty package that you already enjoy. You can avoid feeling overwhelmed and burnout by narrowing your focus and what you specifically want to do.
If your business has a specific product you love the most and believe in the most– and it’s a bestseller, then focus on it more. If your business is more of a service, focus on who you want to help the most? And then think about how you’re going to do that.
We don’t have to think big and wild when it comes to business. It’s dramatically more comfortable to feel smaller– and it results in more success. When you have the time and energy to allow it, you can grow your niche slightly more, but this way, you’re growing in the right direction, the right way, and at the right time.
You’ll Make Better Decisions for your Growth
The next reason you should identify a niche to work in is that if you know what to focus on, you’ll make better, smarter decisions for the growth of your business.
Knowing your niche means that you know your goals and the milestones you hope to take off the rest of the way. Every time a decision comes along, you can pause and ask whether this decision benefits your goal. When you don’t know your niche, then you don’t see that goal, and then it’s surprisingly easy to make the wrong decision or take your business down the wrong path.
Wrong decisions result in you wasting both your time and money, and it can take you entirely off track. And no business can afford this.
It’s Easier to Market
In this day and age, online marketing is one of the most powerful tools we can use to promote our business and communicate and reach our clients. And we all know how big and overcrowded place the Internet is.
When someone looks up something on Google, they’re not likely to look beyond the first page of the search result when trying to find what they want. When you don’t have a niche, you’re competing with people who have been in the game longer than you have. By specifying a niche and promoting it, you’ll be the first result that pops up when people search for a topic related to your business.
Because you know your ideal audience, you’re able to define your target demographic. Then you will know better about how to speak to that perfect audience– and where to find the audience without spending thousands on marketing strategies. For every marketing dollar that you spend, you’re positive that the audience who sees it will be more interested– and more curious than they will be if your ad was more general.
Niches Result in Less Competition
Speaking competition, niches result in there being less competition when it comes to your business. Away from the fierce and cutthroat world of competition, niches can result in similar businesses collaborating with you and both parties lifting each other up.
So the more general your business is, the more competition you have.
And working in a small field encourages collaborations with other like-minded people. And let’s not talk about the personal growth you’ll experience that goes beyond your business’s growth.
Small fields allow you to collaborate, network, and befriend people with similar passions and ideas. The next time a person meets someone who fits your ideal customer who is searching for your exact type of service, will then be the first person they refer you to.
You Get a Loyal Customer Base
When you choose a niche, you guarantee that you will have a loyal customer base of people who genuinely enjoy your product and you as a person.
Whatever your business is about, whether you’re selling art, consulting services, products, shampoo– niching down helps you find these hidden gems of customers who need your particular brand and will also connect with it.
You’re making a place and name for yourself and your business in the world, and only then do you find customers who love the service you’re providing.
Think of it this way. Think of the difference between a department store and a boutique. You’re the boutique. Boutiques usually have a loyal client base– and they tend to charge higher prices. When you walk into a boutique, you expect that not only it’s going to be more expensive, but you also know that the owner and that person behind the counter are very knowledgeable about their product.
On the other hand, when you walk into a department store, you’re lucky if the employee knows something beyond the bare minimum.
It’s Easier to Keep Up to Date
Next up, we have that it’s easier to keep up with all the elements in your industry if you’re “niched” down. There’s always a new product, new information, a new idea. So it’s easier to become better at what you do and keep up with everything happening around you.
Niches Make More Money
If this doesn’t convince you, then nothing else will. The top reason why you should niche down and narrow your focus is this simple fact; niche businesses make more money and can obtain a larger clientele. When you have a niche, you can up the price, and more importantly, more customers will come to you, and they’ll be the right customers.
Also, not only are you making more money because you’re able to charge more– there’s not a lot of competition out there, so there’s no real comparison to your prices– but by niching down, you’re cutting down on unnecessary expenses and being cost-effective. Think about it this way; who makes more? A heart surgeon or a general practitioner?
This happens because you spend less money on marketing in trying to compete with more businesses.
Alright, now, are you ready to niche down?
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