Tricky Question

 

I have a question for you…

Should you increase your sales by going after a small, tight niche? 

Or is it better to go broad where there is a bigger market?

This is a tricky question, as there’s no perfect formula that works. 

The truth is that both of these options can be amazing and I know many people who’ve succeeded with either.

An example…

I was recently chatting to a friend whose company has hit the Inc. 5000 list 4 years in a row. 

When I asked him how he did it, he said that he narrowed the focus down to one market. 

And it’s a market that is shrinking in size. 

He mastered it and became somewhat famous in his niche.

On the other hand…

Last week I reconnected with another friend whose building his business the exact opposite. 

He started with a niche and now has a full-fledged marketing agency that’s winning awards. 

So going broad is working for him… but it’s tough!

But which one is better? Well, if you put a gun to my head and forced me to answer, I’d say pick a niche. 

Pick a tight, deep niche that you can own.  

As I showed you above, even if the market is shrinking, you can achieve massive success.