Dec 04

Dive narrow and deep: serve the specialists

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Transcript:

Hi I’m Kavit Haria, welcome to InsiderInternetSuccess.com

I want to share with you one really powerful truth, if you like. One home foundational point that every business person. Whether you’re a service provider or an information product provider then you need to understand and apply in your business, and it’s this:

The market of everyone doesn’t work anymore.

You know there was a time when local stores if you remember would basically stock a small amount of every type of product. They would stock you know, home improvement items, food items, fresh groceries, they would stock clothes, they would stock stationary, they would stock everything so you could go to that one store and pick up everything that you wanted to pick up.

Now, if you think about what’s happened in the last 10 years, 20 years, 30 years, stores are becoming more narrow and deep. They’re going to basically find specific products that they can specialize in and create specialty stores around that. Which means that they can charge more money for their products and they can attract people that are only interested in that idea.

Now you and I as online business owners, as people who are doing a lot of their work online need to basically adopt this idea. There’s really no more opportunity for us to have a product that is a market of everybody. Even if you think about dating sites.

Dating sites work really well when they are targeted to specific people. It could be cultures, it could be different professions, it could be different age groups, it could be all sorts of different things. But when you go narrow and deep within a specific market you’re going to find that it’s going to be much more easier for you to win your clients, reach out to more people, increase your websites visibility and basically get a lot more inquiries.

So whatever business you’re in I want you to remember this concept:

Narrow and deep and think about how you can do that. Now your business may be the kind of business that would work for everybody.

Right, I have a lot of people when I share this they say “Yea, but I can do this for everybody”. “You know I can do video filming for everybody”, “I can do accountancy for everybody”. I can do you know my dental practice can serve everybody”. But if you can find a few different options for narrow and deep and then start doing your marketing across those channels, you’re going to get better results, more clients and more income. It’s just a foundational truth for how the world is working right now. I think that it’s something that you and I need to adopt a bit more.

Now, of course it doesn’t mean that you can’t serve other people, if you get those inquires come feel free to go ahead and serve them if you feel like you have the time and capacity and want to do that. But always remember narrow and deep means you’re going to get more results for your business and try to think about how you can apply that for now this is all we’re going to cover.

So speak to you soon, all the best, bye

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  • Lucille

    It all comes back to basic business integrity really and that also means honouring promises of refunds to unsatisfied customers! I am still waiting many weeks later Kavit.