When we create goals and visions for our business, we often get stuck in a one track frame of mind with little wiggle room and flexibility. If your product and/or service is on the money and is working, then happy days. Alternatively when things begin to slow down or the growth is not what you were expecting then there can be a real point of friction. It can feel like you have exhausted all of your efforts with nowhere else to go.
Take a step back. Have a look at what you do and who your existing ideal customer is. Is it possible that something you have created or currently provide could be repurposed and presented in a slightly different way to cater for a completely different segment of people? Is there someone else out there who you haven’t been trying to sell to that could find value in what you offer?
I can hear some of you now – “Andy, you don’t want to dilute your business! Being niched is the best way of selling these days.” – This is not about diluting but rather testing the market and being resourceful with what you have already created. Your niched product or service doesn’t have to be generalised but instead a different segment of people may find value in the niche that you have carved out.
Remember Livewire Studios from episode 7 of the podcast? Livewire doesn’t just cater for those interested in performance, but also professionals, schools, nursing homes, and community groups amongst others who can see the value in active and physical engagement, public speaking, role playing and just general human interaction.
Some might see this as the opposite of finding your niche, however I see this as maximising your niche and educating the wider community of how your niche can bring them value.
Is there a product or service that you’re currently selling that isn’t quite hitting a sweet spot? Is it time to refresh with a new name, a new marketing angle, a new prospective customer type? Think about how you would sell what you currently have to a completely unexpected person and the types of benefits they could find in what you are providing.