Specialization or not – this is the question (answer this question, specialization)
3 min read
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As I see it, one of the most common mistakes in business is to refuse to specialize. Although it would take years of struggle for itself, I thought that specialization would limit the number of potential clients I could work with, so I turned my marketing agency into a multiprofile that I wouldn't offer to various companies knocking on the door. If we move to the present day, we will clearly see the opportunities that specialize in both myself and my dozens of clients.
Why my company should be niche-specific?
Practice makes any case perfect, and this is true in the business world as in other areas of life. If you have a niche in the field that your business does, it means you are constantly doing the same thing, and you are going through the practice. This allows you to become an expert in one of your particular verticals, and often you will be an expert in that particular niche.
A specific niche does not necessarily mean giving up on business
How to say yes and no – no. The first and foremost is that you can specialize in a certain niche, and at the same time work with other niche clients. Specialization does not mean that Only You have to work within that one niche. You can transfer this business to a partner who specializes in other niches. However, when you start specializing, your marketing and sales operations will get to your niche, which will reduce your leads outside of your specialty area and dramatically increase them in your new vertical.
How to find my niche?
You can find your niche in research and marketing in a certain vertical, for example, if you have a marketing agency, you have to select the vertical you are interested in and which is not a big competition, but I have to say that in my experience, you will often find the niche yourself.
For example, most of my family members work in the legal field, my father is a lawyer, my lawyer is a lawyer, my mother is a court journalist, and many of my friends are in the legal field. This has naturally led me to become better at this vertical, and over time I have become more and more clients in this field. This vertical fell directly into my hands, and as soon as I focused on it as a goal, our agency quickly grew to serve dozens of legal clients.
How to help a specific niche earn money?
One of the biggest problems for antiprotenders is increasing the size of their business. One of the simplest ways to scale up is to still have a specific niche and consistently repeat the same tasks and processes. Once these processes and procedures have been perfected, staff training and moving to other scales will be much easier compared to businesses that do not specialize vertically.
Undoubtedly, business can be successful even without niche specialization, but in my opinion, a specific niche will increase your chances of success, make your business much larger, you will be an expert in this field, and perhaps most importantly, increase your income.