I was talking to an agency owner recently about how he started his niche agency.
You see, back then, he had a government job that paid really well.
But when he encountered the “four-hour workweek” concept, he was hooked.
He wanted that for himself so he decided to start his own business.
So, he rode his bike…
Got a business license at the City Hall…
And then started a generalist agency.
At first, everything was great.
After all, if anyone raised their hand…
Whether it was a divorce attorney or a mattress company…
His agency was there to help.
Did he find success?
The Problem with a Generalist Agency
When you don’t specialize, you have to learn every single industry you’re trying to serve.
Because only then can you provide the best service to your clients.
Well, if you’re trying to learn several industries at one time…
You’ll soon burn out.
What’s more, your agency will soon falter and deliver substandard results.
Instead of impressing your clients…
You’ll end up losing them.
The reality is, being a specialist works better in different ways than being a generalist.
Find a Specific Niche to Serve
There are two ways to do this:
First, you can look at what you’re passionate about or what you’re good at.
If your line of work was in construction…
Maybe you can provide agency services to tradespeople.
You know the industry, after all.
Since you have an idea of what they need…
You can create your agency’s offer based on that.
Now, if a niche you’re eyeing is already too saturated…
You can look for a blue ocean.
This refers to a niche that’s so specific that there’s hardly any agency serving them.
For example, window treatment companies are a very specific niche.
Even if you’re not passionate about it or you don’t really know a lot…
Learn about the industry.
…At least this time, you only have one industry to focus on.
Develop your expertise so you can deliver the best outcomes for your clients.