Is it better to pick a niche or should your services be fairly broad?

Hey gingerninjas, here's the response I gave to a similar question:

http://www.warriorforum.com/main-int...##post10708638

Of course, whether or not you can do well with a broader audience depends on how well you can deal with each segment of people who are interested in a specific thing.

If you're able to effectively manage broadening your services without compromising the quality of what's already working, then it won't hurt to try.

Daniel

If you've got a gazillion dollars to spend on advertising then go broad; if you are on a budget, go niche.

Personally, I believe it's best for a solo entrepreneur to niche down as tightly as possible. Here are the reasons:

• When you are in a tight niche, everyone on your list is a very targeted prospect. Why is that important? When you send out an offer, you are not wasting your effort on people that are not interested.
• The broader your audience, the more varied their wants, likes, desires. So as you go broader (wider) and broader, the less similar your prospects become and the more you have to dilute what you're doing in order to provide specific offers and help to people.
• The broader your audience, the more heavy hitters you will have to compete against. If you stay tightly focused it's easier to be the go-to expert in the niche.

In my opinion, if you want to offer services in several related areas, it's still wise to be tightly niched in each area so you can maintain your expertise in each one. It doesn't mean that you can't cross-sell or tell your subscribers about your "other businesses."


Focus on one very niched business and get its selling system in place and running smoothly. Once you get the income flowing, then you can focus on another niche. There's always a tendency to branch out and widen your circle . . . but soon you will realize you're not giving your customers in the niche your full effort and expertise.


Steve

How about a few real life examples. OK?

Golf. A huge MARKET. I started selling all things to golfers many years ago.

Drivers. A niche within the market. I made one of a kind custom designed drivers for a premium price.

Eventually, I settled on TRAINING as the focus of my golf business and outsourced the club making and other golf stuff.

So, I started with a broad market and by trial and error found out what was most profitable for ME, although I had other friends who did well selling to the big market. It eventually becomes what suits YOU best.

Resumes. I targeted middle management executives on the rise. They had to be earning X amount, before I would work with them. Most resume businesses are generalists, but by being a specialist, my biz started making 1000 bux a day right off the bat.

You might find a meeting place in the middle, whatever is going to give you what you want in terms of income, time spent, headaches, etc.

The important point, I think, is to have a solid plan and a definite goal before you leap in. Either way could be right for you, give it some thought.

GordonJ

you could do sub niche even micro niche & test each one over time if its profitable.
In case a certain sub/micro niche isnt converting that well focus on others
untill you have some "winner" and expand on those
But indeed like Havplenty states it also depends on your resources...
just my 2 cents

Thanks everyone, I think by default I have fine tuning and developing a bit of a niche and it works quite well. I think with the business growing I will continue to be as niche as possible as this is working and I let's be honest, it's difficult to be perfect at everything right.

Appreciate your comments and look forward to sharing how it all goes.

Brand new the tighter you are based around your supply and demand the better and easier it will be for you to convert prospects into customers when you can focus on a single aspect.

Focus on the few, not the many.

There are many successful marketers and entrepreneurs that have a dozen businesses, websites and are in a variety of niches. But you don't start out this way.

Almost all successful marketers achieve their success via focusing on 1 or 2 things FIRST.

Later on, they expanded their business and began offering other/many more products and services.

You want the formula to failing at internet marketing?

Here it is: do a bit of everything.

Most online business owners fail. Because:

1. They don't follow a profitable business model/system. Don't re-invent the wheels. You don't need to be the next Elon Musk to make millions.
2. They lack focus. They try a bit of everything. Dabble in kindle publishing? Sure! Doing Youtube videos seem cool right? Sure! Email marketing is really profitable? Yeah why not! People are making tons of money with social marketing advertising? Yeah let's try that too!
3. They lack the proper mindset. They think lack instead of abundance. They compete instead of create. They don't realize 90% of becoming successful is having the right mindset.

I hope the above answers your question.

No one can tell you what to focus on with your business. You know your business the best.



So pick 1 to 2 things to focus on. At the most 3 (if you are Elon Musk). Heck, even Microsoft are not good at any more than 2-3 things.

It's fine to be a one trick pony. One trick pony makes you money. Ten trick pony makes you fail.

In my opinion, choosing a niche is the way to go. Going broad would take up a lot of time, energy and financial resources. It also helps focus on the target audiences and decide on which products to market.
You can refer to https://www.quicksprout.com/universi...ate-marketing/ to know the process of narrowing down a niche.

I hope this helps.

Anshuman
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