To be recognized as an expert in your industry, should you choose a niche? Or position as a generalist?
I am often asked about choosing a niche or maintaining a broad service offering.
In my experience, when you are starting (or looking to gain more clients), defining a niche is a far better strategy than being a generalist. That said, once you are established, you can expand your service offerings. But at the start, you must be known for something (a niche), otherwise, you’ll be known for nothing.
By choosing a niche, you can position yourself as a true expert and give your clients the assurance that you understand their needs, speak their language, and know how to solve their problems.
As a generalist, you are likely to be seen as a “Me too!” A widget who can be replaced at any time. Further, a widget often relies on competing on price, as there is no differentiator between you and the next widget. You are interchangeable. Therefore, you must be cheaper than the next widget and a race to the bottom ensues.
And be careful, because a race to the bottom is not one you want to win.
All the best,