Sometimes more doesn’t always equal more.
In the corporate world, we’ve been conditioned to think that more is more. More customers and clients mean more money And while that sounds right, it’s not sustainable for entrepreneurs. As entrepreneurs, we need to retrain our brains into thinking “less is more”.
Because for us, it is.
There are a lot of mistakes or challenges you can run into when starting a business- both in money and mindset. The number one area I see people getting tripped up on is figuring out a clear idea of their business. We think if we’re able to help more people, if we’re able to appeal to more people, if we throw a wider cast or a wider net, we’ll make more money. And that’s wrong. We need to shake this feeling that we have to appeal to EVERYONE. Think Walmart: They have such high volume and because of that they can lower their prices because they know they appeal to more than just one specific group. But you’re not Walmart. You and your business are unique- you just have to get the right eyes in front of it.
Narrowing down and filling a niche is going to be key to longevity for you and your business.
Bottom line: The more narrow and niche you get with your problem and solution, the more money you can make. Focus on your ideal client and the type of group they would be in, find a solution to their problem, and target THEM. By narrowing down and targeting that ideal client, others will follow and fall in. You should aspire to be known for one thing, so that people will think of you for that ONE thing.
Another common issue I see is when clients come to me and say they have two ideas or two business ideas. In the beginning, when we’re getting clear on our business, we should pick the one that best fits in alignment with our dream lifestyle that we’re creating. The idea here is we are focusing on one problem and one business to build, and then we can actually expand and extend to a different one.
If you’re feeling stuck or confused on how to get narrower in your niche ask yourself these questions:
- What do you want to get across? Think about the message you are trying to convey to people. What takeaways should people have after they work with you? Think about how you want people’s lives to be better as a result of working with you.
- Why do you want to share this specific message? If the message you’re sharing isn’t important to you, then it’ll show. Be passionate and believe in yourself and your ideas.
- Is this problem of critical importance to you? If it’s not really important, if it’s not on your heart to solve this for you and the people around you and the people in your life and strangers that are going to come up to you, it’s not going to work. It’s not going to last. It’s not going to be sustainable.
You need to be SINGULAR problem-oriented if you want your business to last.
Even if you’re existing in a known niche, your business can still get lost amongst all the other offers. You want to stand out to potential clients, and the best way to do that is to narrow it down. Find out what that is for your niche and do it.
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