When it comes to business, many people struggle with the idea that they have to niche themselves because they take this to mean that they will be limiting themselves in terms of competition, but actually this is the opposite of what happens when you niche yourself in business, so if you’re currently struggling with the whole specialist versus generalist concept, then in this post we’re going to share with you some of our top reasons for believing in the importance of niching in business.
The other thing to remember about picking a niche is that it doesn’t matter if you’ve already been in business for a while or are just starting out – it’s never too late to pick your niche, and it’s also not something you have to be stuck with forever, so you can absolutely change your mind and switch your niche later down the line if you want to without too much hassle, so don’t let these questions hang over you and make you wonder if choosing a niche is the right or wrong thing for you.
More credibility:
When you’re a specialist instead of a generalist in business, you’re going to definitely have more credibility when it comes to your clients and potential clients. For example, if you have a problem with your eyes, would you feel more comfortable in the ability of a general practioner or an eye doctor to diagnose and treat you? The same principle is applied to business – if you’re a specialist then you’re going to be able to have more credibility in their eyes and they’re going to feel more comfortable working with you if they feel you know their industry and their pain points better than a generalist would.
More money:
Specialists will definitely make more money because they have taken the time to really develop and perfect their craft through years of time, money and experience, which makes a big difference in the level of work they’re able to do for clients.
So, say for example you’re a copywriter and are thinking that if you don’t position yourself as a generalist copywriter that you’re going to limit yourself from the huge pool of clients who are looking to hire someone to write the copy for their business, then you’re actually going to be wrong in this thought process because you’ll be competing against pretty much every other generalist copywriter out there and it will soon become a race to the bottom in terms of pricing, so not only is it more energy to be generalist when looking for clients, but you’re also going to find that you make far less than you’re worth. Whereas if you’re a specialist copywriter with some kind of skill set that clients will find invaluable, then you’re going to have a much higher chance of working with those who value your work, such as SeoExplode and other types of agencies like digital marketing and search engine optimization agencies who know the value of what you bring to the table.
Better clients:
As mentioned above, clients who take their business seriously are going to be caring about quality over price and quantity, so if you’re a specialist in your field, then these are the types of clients that you want to be focusing on getting because, not only will you make more money by working with them, but you’ll find they’re overall less demanding and cause you far less stress than those who are only shopping on price to get the job done.
Better contracts:
It doesn’t matter what your business is – whether you run a consulting firm or are a freelancer, one of the biggest issues that all business owners face is that of making sure they are able to generate enough ongoing income to keep them in business, and since this can be a big cause of stress for them, then the best way to avoid this is by having income streams in place that you can fall back on. If you’re a service-based business owner, then this is going to be in the form of retainers, and again, as mentioned above regarding the types of clients you want to work for, you’re going to find that the quality of contracts overall are better when you’re working as a specialist because they know your worth and will offer the stability of a long term contract so that they can have a good service provided to them without having to constantly look for new people all the time.