A few weeks ago I rode “The Storm Runner”, a new high-speed roller coaster at Hershey Park.  The invitation is to experience “Vertical Power!”  Using electro-magnetic technology, the coaster launches you from a standstill to 72 mph in 2 seconds!  From there you shoot straight up 18 stories…and then go straight down.  Great ride! 

Wouldn’t you love to grow your business with "vertical power"? 

One of the most powerful things entrepreneurs can do to massively accelerate their business growth is to specialize or focus on a niche.  The thought of doing this typically strikes fear at the core of the entrepreneur’s heart – “if I specialize, then I may miss out on all of these others I can help.”   

In reality, the opposite seems to be true.  Trying to appeal to a broad audience usually results in a marketing message that falls on deaf ears.  On the other hand, when you focus on a viable niche (we’ll cover this concept more in the next issue), not only do you magnetically attract lots of prospects in that niche (i.e., “target prospects”), but you often attract others as well. 

Here are Six Great Reasons To Niche: 

1. You’ll become intimately familiar with the specific problems of your prospects and how to help them.

As you focus and work with a specific type of client, you’ll quickly see similar categories of problems.  Soon you’ll know so intimately the challenges they’re experiencing, you’ll be able to understand and convey how they’re feeling and what they’re thinking about.  You will also have plenty of experience about how to help your clients overcome their specific challenges.   

2. Your marketing message becomes more powerful and focused.

 Because you’re so familiar with your prospects you’ll be able to put into words their major concerns and desires.  You’ll communicate these feelings and thoughts whenever you speak and write to this audience.  You’ll also know the best questions to ask to assess their needs.

3. Your marketing efforts will become more efficient.

 Instead of speaking to any group of people who will have you, you’ll focus on speaking to association groups and organizations where your target prospects congregate.  Rather than writing general articles in every business journal you can recruit, you’ll write focused, valuable pieces only for the trade journals your target prospects read.

4. It will be much easier to identify and qualify prospects.

Since your not “selling everything to everybody”, your marketing message will be crystal clear about what you offer and whom it’s for.  This makes it easier for you to decide who are quality prospects and who will end up wasting your time (because in the end, they won’t have a strong enough need for your services).  Your focused marketing message also will help qualified prospects to identify themselves and will invite the unqualified ones to opt out.  This will result in higher closing ratios and more satisfied clients.

5. You’ll gain a greater competitive advantage.

The fact that you work exclusively with this target market will give you an advantage over your competition who is trying to be all things to all people.  Prospects will want to work with you because you really know them and their challenges.  You have a proven track record of helping others just like them. 

This leads into the final reason…. 

6. You’ll automatically attract prospects as you become recognized as an expert in your field.

Because you’re focused on this target population, word will spread as they speak to one another.  They will go to your workshops, read your articles and resonate with your words.  You’ll soon be perceived as the recognized expert, proven by all the target clients you’ve helped.  More will knock on your door for the opportunity to work with you.  Leads and referrals will be abundant. 

All of this will result  in you building a larger client base faster while effortlessly generating leads into the future.

In the next issue we’ll explore the criteria for choosing the best niche for you.

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© 2004  David C. Miller.  All Rights Reserved.

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