November 2015 Coaches Corner
Be Known For One Thing
By Sheryl Wolowyk
When a child is sick, who do you take them to see? A general practitioner or a pediatrician? If you're planning a wedding and want a cake, do you go to the general store or a bakery? If you're struggling with a significant other do you visit a life coach or a relationship coach?
In a day and age where every market is saturated with businesses trying to get a piece of the pie, it's becoming more and more necessary to be a specialist in your field.
While in those previous examples, the “general” options weren't bad businesses… nine times out of ten people would prefer to go with the specialist. Why? Because they put their trust in an expert.
On the business side, you know exactly the type of customers you will get each and every time. The pediatrician will always work with children. A relationship coach will always deal with relationships.
Would you rather have clients from all over the spectrum coming to you for answers? Or targeted clients, who have similar issues you know a lot about?
Beyond that, those who are specialists, or are “known for one thing”, command higher prices. And it's universally accepted because the market believes they know more about their field than others.
Which is why honing your niche and becoming known for one thing is crucial to developing an “Easy, Simple, and Lucrative” business. You will set yourself apart from the rest and avoid falling into the “me too” category of forgotten, general businesses.
That's why today I'll show you exactly how much you stand to benefit from taking this leap, and how to make it happen.
You'll discover how you can develop your razor-sharp USP and Elevator Pitch faster than ever…
I'll pull back the curtain on my own business to show you the power of “specializing”…
And you'll see just how many “famous experts” have done the same (and why none of them worry about being “trapped”)…
You Don't Have to Be Special
Believe it or not, you don't have to have superpowers to become “famous” in your industry for a certain topic. You just have to narrow your focus, provide valuable education-based content, and be persistent.
Look at Rachel Ray, for example. Is she the best chef in the world? Of course not. In fact, she's not even trained. However, her personality and approach to cooking made her relatable and likeable. She clearly loves doing it and talking about it – and, in turn, people fall in love with her.
I bet there's an element to your industry, your work, etc… that fires you up more than the rest. Perhaps, as a life coach, you really like helping working mothers. Or women who are dealing with empty nest syndrome.
Maybe as a relationship coach you love working with newlyweds. Helping them work through their new lives together. Or maybe you prefer swinging singles.
Perhaps your hobby or your background gives you a fresh approach on your topic. Maybe you're a fitness coach who served in the military, and thus have very specific training methods clients would appreciate.
The point is, you are unique. And I'm not saying this to play into the “everyone is special” sentiment.
However, no one else has your specific life experiences. So, it's up to you to channel them and figure out, “how can I use these to leverage myself as the go-to expert in my industry.”
Write down everything you love to do. Or, at least, love to read about. Tie them to your goals as an ExpertPreneur®. See which fit well, and think hard about how they can influence your business. You never know what will pop out at you!
This combination of ideas and passions and your unique way that you do what you do, will become your USP (unique selling proposition). A few carefully selected sentences that represent what you do, and the way you do it.
You could be the coach who works exclusively with widows, because you've volunteered in senior citizen centers for years. Or shows diabetics simple ways to lose weight and become healthier, because you are diabetic.
Even if there are other people in those niches, you can set yourself apart. James Wedmore is a YouTube Video Marketing coach, otherwise known as the “YouTube guy”. However, his focus is solely on maximizing your business' traffic through YouTube. There are other people who are YouTube Experts in other ways.
There's room out there for you. You just have to be ready to dig deep and find out what makes you stand out. It may take time to figure out, but I promise it's worth it.
Serving One Audience
If you've spent time on my website or reading my ExpertPreneur® digital magazine, you probably noticed that I cater to a very specific audience – ExpertPreneur®. An ExpertPreneur® is an Expert Entrepreneur. In other words, business owners who share their expertise to educate and help transform their audience's lives.
All of my marketing, communications, products, etc… are geared toward that demographic. I'm not worried about people who sell goods, or consumables, or any other type of Entrepreneur. If you aren't a coach, speaker, consultant or author, or some other expert Entrepreneur, then my services are not for you.
And that's exactly how I want it to be. I can devote all of my energy to helping ExpertPreneur®, and not spread myself too thin. My ExpertPreneur® Magazine is dedicated to sharing tips and strategies from the top Entrepreneurs out there to help improve Expertpreneurs'® businesses.
I also have a radio show, my ExpertPreneur® TV (two-minute shorts,) as well as my blog and newsletter. All are education-based communications developed specifically to help the ExpertPreneur® market segment create Easy, Simple, and Lucrative businesses.
In addition to my regular communications, all of my info products and paid events focus on that demographic, as well. And there's a key point to be made here – because of my focus, I am able to cater to every level of Expertpreneur®.
For example, I have an “Income Acceleration Blueprint” free resource, as well as a product series, geared towards the “Intermediate ExpertPreneur®.” Essentially, the ExpertPreneur® who has started a business, created an online presence, but wants to take it to the next level and become more “hands-off.”
I also provide products and services to those who are just starting to take their businesses online , as well as Advanced business owners who desire more complex business-building strategies and freedom from their business . By keeping a laser focus on one target market, I can deepen the knowledge I share to cater to everyone who falls within it.
If I generalized and helped every kind of Entrepreneur, I'd end up getting spread way too thin. My message would get distilled and I wouldn't be very effective. I’d also have a tough time differentiating myself from my competitors.
With this strategy and focus, I became the “ExpertPreneur®” Expert my prospects and clients can rely on. Allowing me to help more people, earn more money, and create the business of my dreams.
Be “That” ExpertPreneur®
The beauty of becoming known for one thing, is you become the person everyone turns to in your field. You're so specialized, people view you as more than an expert. You become synonymous with your topic.
Think about other successful ExpertPreneur®. Gary Ryan Blair is the “goals guy.” He helps professionals figure out their goals in life and how to achieve them. Separating him from the rest of the pack.
A general “life coach” could work with a client on pretty much any problem. Gary only focuses on one part of the puzzle. Thus positioning himself as a specialist, and becoming the “go-to” for that need.
Jeff Walker is the “product launch” guy. He developed a formula specific to helping internet marketers get their products off of the ground. If you want to launch a product or a service online, he's the person you contact.
They both developed ways to stand out in their over-saturated markets, and become Experts in their target niches.
Another “go-to” ExpertPreneur® worth noting is Perry Marshall. Perry was the king of Google AdWords for a long time. He literally wrote the book on it. And put all of his energy and focus into helping people find success using that program. In fact, he's still remembered for it.
However, Perry Marshall also represents a caveat you should understand.
A huge fear for ExpertPreneur® starting out is being pigeon-holed into one thing, never to break free for the rest of your life. And I can understand you believing that to be the case.
The thing is, any number of circumstances can arise that might affect your industry. In Perry Marshall's case, Google clamped down hard on internet marketers who relied heavily on AdWords. Google started deleting accounts and removing access to their program, thus alienating a majority of Perry's audience.
What's a business owner to do?
Knowing that Google AdWords was no longer a good focus, Perry refocused his efforts and reinvented himself as the “80/20 guy.” He now focuses on helping business owners understand that 20% of their efforts lead to 80% of their results. And thus, creates products and communications helping them leverage that.
Is that directly related to Google AdWords? No. However, he had already built up an audience, and used his respect as an authority on AdWords to establish his authority on a new subject.
All that is to say, you're never stuck. So do not fear taking a stance and niching yourself. Your business will do much better for it. And you can always make a shift later on.
The Narrower the Better
As counter-intuitive as it may seem, the tighter your focus, the better off you will be.
Of course, you want to make sure your niche is actually lucrative. Simple market research – checking out competition, other products in the market, and what consumers spend – will give you that answer.
However, the key point is when you create that razor-sharp niche for your business, you can easily become the best at what you offer. And in fact, you'll eliminate competition, because there will be no other business quite like yours.
So, take the time to really break down your business and your passions to see how you can stand out from the rest. Become known for one thing and watch your profits soar.