When you see advertisements for professionals or firms, do you ever wonder how anyone can be an expert in all of the niche areas the firm lists in their ad or on their website? I saw a website recently that listed 20 or more industries in which four people work. Can each of the partners really be experts in five different industries?
The error in this kind of advertising is that the days of the generalist are gone. We live in the age of specialists. When people make choices about professional services firms, they choose the firm with the expert in the specific service they need. There are certainly services that do not require specialization in every profession, but when it comes to running their business, people increasingly want the attorney or the accountant who has knowledge and experience with their business type and with the industries in which they work.
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What is the Micro-Niche Method?
The Micro-Niche Method is a process that brings Business development success to professional services firms – We have a focus on CPA’s and other consulting practices. If you feel like a commodity – have fee pressure or have trouble growing The Micro Niche Method is your solution.
Successful micro-niches are built around the specific expertise and experience of a single professional or team. The focus is chosen because a particular professional is uniquely qualified to claim expertise in a narrowly define area of one of the firm’s existing niches. When a micro-niche is chosen correctly, there will be no competition in the market.
Because there is no competition and because they require expertise, the professional is able to charge premium prices for work in this area – hence the term “rich niche”. This presentation will explore:
- Benefits of a micro-niche vs. a general practice or a niche
- How to choose a micro-niche
- How to begin to “own” your expertise and the micro-niche
- How to maximize revenue opportunities
- Common mistakes to avoid
How can the Micro-Niche Method Revolutionize your Practice?
Professional service providers understand numbers. Do you know what’s happening to your numbers? How are your quarterly revenues? Are your billable hours up or down? What about your revenue per billable hour? Are you spending half you time scrambling for new clients, or are they coming to you?
Are you a commodity or an expert? How do people treat you (professionally speaking)?
- Do your clients pressure you about your fees?
- Are you spending huge amounts of time writing proposals in response to RFPs?
- Do you feel there is a dark cloud above you every day because you are afraid your clients will leave?
- Do you think your marketing efforts are ineffective?
- Do you have quid pro quo referral agreements?
- Do you feel your networking efforts have become a waste of time?
If you answered “yes” to any of these questions, you are a commodity!
So stop being a commodity!
Learn to stand apart as an expert. Build a micro-niche that places you outside direct competition, justifies premium pricing, sets the stage for centers of influence to send new clients to you – not for a referral in exchange –because you are the expert and you can help the client. Spend your time with the right people and build your visibility within the profession, in a target industry and with the right clients.
Every industry has a niche, or two or three. The problem is that all of your large competitors often serve what are essentially the same niches. The way you can stand apart from the crowd is to establish yourself for your expertise in a micro-niche market.
Sure, it’s counter-intuitive to think about a smaller specialty area. Nevertheless, a true micro-niche makes you unique because of your expertise in that more narrowly defined area.
The Micro-Niche Method is your roadmap from commodity status to recognition as a valued expert who offers highly desirable services at premium prices. If you are ready to make this change in your professional life, buy the book and start reading.