Wednesday, 26 August 2020

Business as usual.... before it wasn't.

Charlie Boudreau is looking for recommendations
 
I'm looking to niche down. I am currently serving too many areas.
I'm struggling to settle in on a niche. Aside from picking a niche "I love", does anyone have any suggestions for niches that attract more clients than other niches or are easier to work with?
I'm currently debating on restaurants or cleaning services.

Sam Phelps
I could be spelling out the obvious but make a list of:
1. Businesses that work really hard to get consumers (easy to get leads and get pitches heard).
2. Businesses that have autonomy on local levels/authorised to spend.
3. Have a model which is scalable (or at least they have intent to).
4. High margins or monetise attention in other ways.
Restaurants for example tick three, hard to figure out the fourth without research.
Write down as many industries as you can and tick off which boxes they tick... The best place to start is categories actual ads you see going about your life - for example I see way too many insurance ads, way too many mobile gaming, gambling, alcohol, supplements, fitness and online courses lol so they all must have huge margins (advertising is worth the cost)
The only one I can think of which ticks all 4 at the moment is education - it's a bit of a gold rush at the moment, I think most of us will wake up in half a decade. But education traditionally, education to educators, education tech and of course... online course education.
Once you have the ones you least hate or most like, narrow down the subgenre. Insurance could be pet insurance, education could be STEM, restaurants could be local source only, cleaners could be natural cleaning products only etc.
Then go test the assumptions and get to know the people who you think matter.
Or you know, just go your original thoughts of restaurants or cleaning, because: why not.

Saturday, 1 August 2020