There 2 kinds of businesses – Generalized and Specialized.
Some folks might think I’m over-simplifying . . . I think not.
Both of these kinds of business can grow and become profitable albeit in very different ways.
There’s something deceiving about this . . . some of the businesses you might think are “generalists” might not really be.
Amazon.com seems to have virtually ANYTHING you want to buy . . . If you can’t find it on Amazon.com, you probably don’t need it. So . . . You might think that they don’t specialize in any particular product (they don’t), but they DO have a niche – Low pricing and fast, reliable delivery.
I believe that many businesses fail to gain traction in the market they are attempting to serve because of Lack of FOCUS/Lack of Specialization in the beginning . . . or because of a shift from specialization in an effort to grow faster to increase profit.
“Diversifying” a Business can be a killer distraction.
Don’t fix it if it ain’t broke!
So . . .
If you want to be the Mayor of your own Niche, you must first define this Niche with pinpoint accuracy and FOCUS.
FOCUS on a SINGLE Niche . . . Don’t let bright, shiny objects (or squirrels) distract you and know that the entire universe is conspiring to cause you to fail by tantalizing you with new and exciting products and ideas.
EVERYTHING you do and say relates to this niche. You hone your knowledge of this niche every minute of every day . . . thinking about better ways to serve this niche when you go to bed, wake up, exercise, sleep, eat . . . You live and breathe it.
Everyone you know INSTANTLY associates YOU with your niche.
You’re the “GoTO Person” for all things relative to your niche.
You’ve proliferated the internet with great tools and information to serve people with passion for your niche . . . Website(s), Facebook, Blog, Listserves etc.
You publish yourself as the expert you are until other people acknowledge your expertise by seeking you out when they need information about current news and trends relating to your niche.
I “talk” a LOT about the importance of Niche Specialization WRT REALTORS and Business Leaders of all shapes and sizes . . . and today, I realized that many folks might wonder if I practice what I preach as I build Pareto Realty.
What makes Pareto Realty different from the other firms?
Pareto Realty is ALL about Niche . . . The sole purpose of our firm is to help our member Real Estate Sales Professionals define and serve very specific Niches for Home Buyers and Sellers, Landlords and Tenants, Investors, Builders, Developers . . . ALL THINGS Real Estate.
We are all about the 20% – The Vital Few – and have a resolute commitment to coach and consult with our team members (Real Estate Niche Specialists) to establish them squarely and unequivocally in the top 20% of the Middle Tennessee Real Estate market . . .
We’ve got a good plan with individual coaching and are actively seeking new Niche Oriented Real Estate Sales Professionals to join our team and grow with us.
Let’s do this!
Connect with me when you’re ready to LAUNCH.
(You don’t have to be in Middle TN to develop your own niche . . . Do this in your own market, and watch your biz build)