Positioning: The Numbers

Have you captured your ideal positioning? If not, you might have a numbers problem.

Jonathan and I discuss niche positioning in light of the research conducted by David C. Baker for his book “The Business of Expertise”:

The ideal number of competitors and target clients in your niche to ensure it’s big enough to keep you profitably in business and small enough that you’re memorable.

Why fishing in the right barrel vs. trying to cover the ocean is an ideal strategy for a soloist.

The importance of finding your “unfair advantage”.

How to find and analyze a potential market niche, including government statistics, trade associations, and social media.

Quotables

“There’s this sort of tacit assumption that more prospects is better. So why would you narrow your focus on a subset of the whole universe?”—JS

“Maybe you don’t need to have a hundred thousand people on an email list to have a viable business.”—RM

“Would you rather be in the ocean with that hook, or would you rather be standing next to a barrel of trout?”—JS

“I don’t have to write about 20 different things. I don’t have to have 10 different products and services—I can just focus on whatever this particular group is most interested in.”—RM

“Where do you have an unfair advantage? Like where are you already connected with a bunch of people? That could be your target market.”—JS

“You have to be excited by the depths you’re going to go to when you decide to niche.”—RM

“I’ve just heard this story so many times when people finally niche down to an appropriate level…they start feeling traction right away.”—JS

“’I like all my clients the same.’ Nobody has ever said that to me. They’ll say ‘Oh let me tell you about Joe or Sarah. If I could fill my pipeline with people just like that, I would be thrilled.’”—RM

SUBSCRIBE
SUBSCRIBE TO THE BUSINESS OF AUTHORITY

Recent Episodes:

April 22, 2024

It’s A Wrap!

We have a BIG announcement wrapped in a short episode of The Business of Authority. If you’re a fan, you’ll definitely want to tune in. We talk about where we’re taking the show and how your feedback will impact our next steps.

April 15, 2024

April Dunford – Obviously Awesome REPLAY

When I started reading April Dunford’s book, I couldn’t wait till we had her on the show. In Obviously Awesome, she simply yet powerfully explains the importance of positioning and how to do it. She’s no less fabulous on the show—she not only clarified what positioning is and why it’s important, but she also shared her own journey to her current positioning and niche (hint: it’s wildly successful).

April 08, 2024

The Passion Economy with Adam Davidson REPLAY

You may have heard our guest Adam Davidson on NPR (he co-founded their Planet Money podcast), but his—well, passion—is what he calls “The Passion Economy”. He makes the case—including some mesmerizing stories—that we can create deeply impactful, financially successful businesses from our deepest talents and passions.

April 01, 2024

In Defense of Repetition

How do you get better at anything? You practice. LeBron shoots free throws—Gaga sings scales. Consulting and advisory is no different. Upping your game requires embracing repetition— continually practicing all the elements of your craft and the business skills you need to flourish

March 25, 2024

Genius Zone vs. Productivity

When Louis Grenier of Everyone Hates Marketers called out working in your genius zone as a recipe for burn-out, well, Jonathan and I had to push back. We argue that working in your genius zone is not about being “hyper-ultra-mega productive”, but about working in flow state

March 18, 2024

The Pros And Cons Of An Application Process

Have you considered adding an application process for your service(s), but weren’t sure whether it would help or hurt? Jonathan and I have both used applications for different programs and purposes and we dive into how to make them work for you