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Is my niche too small

#
96
Chris Do
Published
May 24, 2019
Pro Call
Sales

Chris Do talks with a Pro Member who is concerned that their niche is too small.

Read Transcript
I guess so, my I like the back of my mind, I'm doing all the legwork to try and get more clients right. And I still in the back of my mind, I'm hesitating on if I'm making my niece too small or if I should just, like, stick to my guns and have it out because I want to try and do. All horses, if I can, but in the back of my mind, I'm like, is that too small? Is the work not like? Is the money not going to be there because there's definitely money in horses, there's gods and gobs of it. But I'm just worried about like. Oh oh, you're back, ok? Go on. Sorry you're worried, you're worried about what if that's too small, if I just need to keep it broader and still because I want to focus on strategy, I want to focus on logo design and I want to focus on web like that's going to be at least have that pared down. I'm not doing stuff and everything in the kitchen anymore, right? But I just don't know how big my client base could be anymore. Yes, I know nothing about horses. And I have no idea, but I imagine that I believe what you say is true, that people that are in it have money, of course, and the question really is how they're willing to spend it. Yes and I like that you want to focus on the smallest viable audience for what it is that you do, it's a line with who you are and what you like and you're passionate about. So I encourage that. Why not do it? And until you have evidence otherwise, I would say you go for it. I'll tell you something here. So real estate, you would assume, has a lot of money to. And that we should be falling all over piles of cash if we go and helping real estate agents and brokers, right? Well, it turns out that is not true. They make a lot of money. They want to spend none of it. OK they don't think they need it at all. Right? so I have, as part of my success failure story, tried to onboard a local real estate broker, and he is one of the most successful real estate brokers on the West Side. The average price of a home he sells is $5 million. Yeah so with his commission being what it is, you would think. What's $10,000 for strategy for him? Nothing he wears fancy suits, drives, fancy cars. You would think he's all about his image, too. It's got perfect teeth. $10,000 We had three meetings to talk about it. He's like, I'm ready, I'm ready, and then he's not going to do it. But then it turned out that when we met real estate developers. Different story. Because now it was a corporation, not a person trying to run his brokerage. OK different mindset, similar markets, totally different. And that client, we've done over a million of business with. OK, so I don't know, I think is it equestrian? Is that the horse thing? I don't even know the terminology here. Yes yes, that's right. It's like this whole clothing line inspired by playing polo. Get it. So it seems like there would be money, but we just don't know. OK you won't know until you really dig into it. OK, I'm going to stick with it then. So what I would do is make sure that your site has amazing photography mockups. It really speaks to people who are in a space that whenever whatever words I search on Google, your name and your company comes up first, or at least in the top 10. Then, you know, you have a shot and you've done everything you need to do. So what are people typing in to look for people like you to help them do branding for what it is that they do? Show them something amazing. Now here's the cool part. When you show amazing client after client logos and identity systems and websites and merchandising for people in that space, other people kind of adjacent to the horse thing will think, wow, she's great. I wonder if she'll do this other thing for us. And then you get to decide. no, I'm really focused on horses. Or, yeah, I'll take on your super high end posh restaurant. I like. I like the right. But you need to. You need to mirror your client base on your site. OK OK, well, that's good because I actually I just changed the photo away from it. And I'm going to bring it back. OK you have to kind of stick to your guns for a little while. Yeah all right. I've been waffling. So thank you. Now I'm going to say one last thing. You can take on different kinds of clients. You don't need to show them on your site. That's the thing that people don't understand. They think, oh, this amazing motion design company, they only do pool work and they'll be the first to tell you. We do a lot of crappy, stupid work. We just don't show it. And that's OK, too, because it pays the bills, right? OK awesome, thank you.

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Is my niche too small

Chris Do talks with a Pro Member who is concerned that their niche is too small.

Important: We’re sorry about this, but this transcript is hard to read. We’ve added the wall of text below to help our search function better. If you’d like to help us format this, please reach out to andres@thefutur.com. In the meantime, simply turn closed captions on (CC) the video above to read along.
I guess so, my I like the back of my mind, I'm doing all the legwork to try and get more clients right. And I still in the back of my mind, I'm hesitating on if I'm making my niece too small or if I should just, like, stick to my guns and have it out because I want to try and do. All horses, if I can, but in the back of my mind, I'm like, is that too small? Is the work not like? Is the money not going to be there because there's definitely money in horses, there's gods and gobs of it. But I'm just worried about like. Oh oh, you're back, ok? Go on. Sorry you're worried, you're worried about what if that's too small, if I just need to keep it broader and still because I want to focus on strategy, I want to focus on logo design and I want to focus on web like that's going to be at least have that pared down. I'm not doing stuff and everything in the kitchen anymore, right? But I just don't know how big my client base could be anymore. Yes, I know nothing about horses. And I have no idea, but I imagine that I believe what you say is true, that people that are in it have money, of course, and the question really is how they're willing to spend it. Yes and I like that you want to focus on the smallest viable audience for what it is that you do, it's a line with who you are and what you like and you're passionate about. So I encourage that. Why not do it? And until you have evidence otherwise, I would say you go for it. I'll tell you something here. So real estate, you would assume, has a lot of money to. And that we should be falling all over piles of cash if we go and helping real estate agents and brokers, right? Well, it turns out that is not true. They make a lot of money. They want to spend none of it. OK they don't think they need it at all. Right? so I have, as part of my success failure story, tried to onboard a local real estate broker, and he is one of the most successful real estate brokers on the West Side. The average price of a home he sells is $5 million. Yeah so with his commission being what it is, you would think. What's $10,000 for strategy for him? Nothing he wears fancy suits, drives, fancy cars. You would think he's all about his image, too. It's got perfect teeth. $10,000 We had three meetings to talk about it. He's like, I'm ready, I'm ready, and then he's not going to do it. But then it turned out that when we met real estate developers. Different story. Because now it was a corporation, not a person trying to run his brokerage. OK different mindset, similar markets, totally different. And that client, we've done over a million of business with. OK, so I don't know, I think is it equestrian? Is that the horse thing? I don't even know the terminology here. Yes yes, that's right. It's like this whole clothing line inspired by playing polo. Get it. So it seems like there would be money, but we just don't know. OK you won't know until you really dig into it. OK, I'm going to stick with it then. So what I would do is make sure that your site has amazing photography mockups. It really speaks to people who are in a space that whenever whatever words I search on Google, your name and your company comes up first, or at least in the top 10. Then, you know, you have a shot and you've done everything you need to do. So what are people typing in to look for people like you to help them do branding for what it is that they do? Show them something amazing. Now here's the cool part. When you show amazing client after client logos and identity systems and websites and merchandising for people in that space, other people kind of adjacent to the horse thing will think, wow, she's great. I wonder if she'll do this other thing for us. And then you get to decide. no, I'm really focused on horses. Or, yeah, I'll take on your super high end posh restaurant. I like. I like the right. But you need to. You need to mirror your client base on your site. OK OK, well, that's good because I actually I just changed the photo away from it. And I'm going to bring it back. OK you have to kind of stick to your guns for a little while. Yeah all right. I've been waffling. So thank you. Now I'm going to say one last thing. You can take on different kinds of clients. You don't need to show them on your site. That's the thing that people don't understand. They think, oh, this amazing motion design company, they only do pool work and they'll be the first to tell you. We do a lot of crappy, stupid work. We just don't show it. And that's OK, too, because it pays the bills, right? OK awesome, thank you.
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