the startups.com platform about startups.comCheck out the new Startups.com - A Comprehensive Startup University
Education
Planning
Mentors
Funding
Customers
Assistants
Clarity
Categories
Business
Sales & Marketing
Funding
Product & Design
Technology
Skills & Management
Industries
Other
Business
Career Advice
Branding
Financial Consulting
Customer Engagement
Strategy
Sectors
Getting Started
Human Resources
Business Development
Legal
Other
Sales & Marketing
Social Media Marketing
Search Engine Optimization
Public Relations
Branding
Publishing
Inbound Marketing
Email Marketing
Copywriting
Growth Strategy
Search Engine Marketing
Sales & Lead Generation
Advertising
Other
Funding
Crowdfunding
Kickstarter
Venture Capital
Finance
Bootstrapping
Nonprofit
Other
Product & Design
Identity
User Experience
Lean Startup
Product Management
Metrics & Analytics
Other
Technology
WordPress
Software Development
Mobile
Ruby
CRM
Innovation
Cloud
Other
Skills & Management
Productivity
Entrepreneurship
Public Speaking
Leadership
Coaching
Other
Industries
SaaS
E-commerce
Education
Real Estate
Restaurant & Retail
Marketplaces
Nonprofit
Other
Dashboard
Browse Search
Answers
Calls
Inbox
Sign Up Log In

Loading...

Share Answer

Menu
Business planning: When determining your target market, would it be better to be niche or have a broader client base?
Erol Fox, Master Coach at Inherent Excellence answered:

Let me ask about your personal experience?

When you have an illness, do you want a specialist who knows the problem and immediate solution OR a general doctor than helps with colds? Yes, part of the answer is that the specialist earns much more because typically they have put years of effort into solving that problem & they solve it fast.

As a coach, I suggest our mind points us to a non-logical answer to this question. Our fear-based mind sees scarcity, "not enough", so it thinks a general client base is "safer", will feed us, but fear drives away clients. Shift your inner world, your mind, to an abundance mindset. Focus on the great number of people with the specific problem you want to solve. Also, many starting entrepreneurs are addicted to variety so they resist a specific niche they can invest years into.

A coach can help you grow your inner mindset as well as the outer-world practicals like niche.

Talk to Erol Upvote • Share
•••
Share Report

Answer URL

Share Question

  • Share on Twitter
  • Share on LinkedIn
  • Share on Facebook
  • Share on Google+
  • Share by email