#56 The importance of niching in small business, with Jess Osborn

What do you do when you hit a growth plateau?

How do you keep levelling up?

In this episode, I’m chatting with Jess Osborn, an amazing business coach specialising in marketing. We’re discussing the importance of niching in small businesses to keep growing and build a stand-out reputation in your field.

Many small businesses fear niching down because they envision their potential client base becoming very limited. But the abundance of opportunities in the market is enormous. Take a moment and critically reflect on exactly how many clients you actually want to take on board and how many people are potentially within your niche - there’s always a huge surplus.

Jess is here today to address all your concerns and help you to feel confident in getting very specific about your ideal client and services.

Niching down creates space for you to focus on the offers that light you up and generate the most revenue. If you haven’t niched down or think you haven’t niched enough - this is the episode for you!

TOPICS DISCUSSED AND WHERE TO FIND THEM:

[3:43]: Jess discusses why niching is so important for small businesses.

[4:42]: Consider how many clients you need to make your dream goals? It won’t even be a fraction of the market you think you need.

[6:17]: Most service businesses let the market dictate what they do next. Whenever a client comes to them, they take them on and work out the price.

[7:27]: But reflect on what a 5-star client looks like for you. Get specific and say no to clients that don’t fit.

[8:40]: If 80% of your clients are 5-star clients, you can be working less and earning more.

[10:37]: By not offering heaps of add-on services, your business is not less profitable. In fact, it helps you to be more profitable because it creates space for you to do the thing that you’re best at.

[12:27]: Change your mindset so that you don’t feel like you’re an employee of the market.

[14:38]: Another benefit of niching is systemising, automating and reducing the administrative component of your business.

[17:07]: Think about the abundance of opportunity in the market.

[18:20]: Jess created a free guide ‘The 12 brilliant ways to reach your ideal client!’. Always be thinking about how you can reach out to new people.

[20:51]: You can choose who you want to work with.

[22:41]: If you’re not sure if you’re niched enough - you’re usually not.

[24:12]: It’s not a one size fits all and you can go back and make changes. It’s not set in stone!

LINKS:

Where to find Jess:

Website: https://www.jessicaosborn.com/

Instagram: @jessica.osborn

Facebook: @jessicaosborn.BXcoach