In episode #749, Eric and Neil discuss whether riches are in the niches. Tune in to hear whether you need to focus on a niche market.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: Are The Riches Really In The Niches?
- [00:55] If they are, then why do we do different things?
- [01:15] In the beginning, you can go after a niche, because it is too expensive to go after a huge category.
- [01:20] Once you are established, you should expand and get beyond a niche market.
- [01:22] For example, ConvertKit tried to compete in the email marketing space and it didn’t work out. When they changed course to be a service for bloggers, they started succeeding. Now, they are Seva and have a larger business.
- [02:00] It is hard to make millions working within a niche.
- [02:35] If you are going to swing, swing for the fences.
- [02:54] If you don’t have a lot of cash, go for a niche. If you have the money, go for a huge market from day one.
- [03:25] Eric interviewed someone who works for Kahuna.
- [03:44] They focused on one area and then expanded their knowledge in that area.
- [04:10] In this case, the company wasn’t working before they focused on a niche.
- [04:41] Sam Evans found that when he “niched down”, he was able to have more success.
- [05:10] Now, Sam and Consulting.com target anyone who hates their job and has some sort of expertise. Then he teaches these people how to become consultants.
- [06:05] He has since had members create testimonials for his service.
- [06:100] That’s it for today!
- [06:17] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Discover Latest Episodes
In episode #2298, we speak about Eric's content plan for next year. From more conference appearances to finding a configuration that suits your exact business, there are a number of useful ideas that ...
In episode #2297, we have a look at Neil's content plan for next year. If you want to hear about Neil scaling back on certain aspects of his content creation, and what you should be aiming for in the ...
In episode #2296, Neil and Eric talk about how they have been leveraging AI writers. There have been a lot of developments in the AI space recently, but we are only just starting to uncover how to opt...