Each month, I’m sent questions by subscribers to my newsletter. Thinking you might find the answers helpful, I’m answering this question on my blog. Question I know I need a niche. I also need more best clients. Where do I start? Answer As I learned the hard and very expensive way, if I do what I’m doing and it’s not working, doing it more and working harder will get me the same results and will affect my health and well-being. Over time, I’ve seen personal and business reasons a client isn’t where they want to be – client acquisition wise. You may already know about some things you read in this post, and other concepts may

Design your entire practice around your niche, specifically around how you define your ideal clients -- before you spend time and money on marketing materials, websites, or attending a networking event. Once you've chosen a niche and then zeroed in on the specifics of an ideal client, everything else about your practice will support "who" your ideal clients are. That could include which business model to choose, which services to offer, what people to hire, what are the best ways to market your firm off and online, which technology to purchase -- and even what your office will look like. Let's look at one advisor and how "who" they worked with really matters... down to the

Below are five articles on niching that you’d appreciate if you’re looking to create a niched business.   When an Adviser Finds His Niche As a new advisor, Mr. Milittello learned a valuable lesson about niching from his clients. Now he runs two firms. An Advisor Finds His Niche   Widows, Divorcees a Potential Service Niche for Advisors Many women don't have the documentation they need to manage their households, and some fear they'll end up homeless or broke... Widows and Divorcees Ready To Take Over Finances   How Financial Advisors Can Adjust to Robo-advisors /Financial Advisor Becomes a Robo-Advisor Robos have created systems for everything. And all their systems are geared towards their niche and

13 Business & Finance Experts Reveal Why Finding Your Niche Leads to More Success   What are you doing to separate yourself from the competition? Several experts in the finance and business world believe that niching is one of the best strategies you can use to stand out and increase your profitability.   Now here’s a quote, one of my favorite business quotes, which I bet you’ve often heard or seen online. It’s MORE OFTEN miswritten or misquoted, so to set the quote right by my colleague, Bob Burg, here it is:   “All things being equal, people will do business with, and refer business to, those people they know, like and trust.” Bob Burg, entrepreneur

When some of the most famous and highly-respected experts in the world give advice about niches, I sit up and pay attention. The diversity of industries represented by the quotes below only cement my belief that selecting and serving a niche is a key element to success--no matter what business or industry you’re in.   “Rock music is niche.” Bono, Irish singer-songwriter, musician, venture capitalist, businessman, and philanthropist   “We expand what we focus on.” Wayne Dyer, American self-help author and motivational speaker   “Identify your niche and dominate it. And when I say dominate, I just mean work harder than anyone else could possibly work at it.” Nate Parker, actor and musician   “Between parts