Chapter 1. Specialist domination Flashcards
Why is understanding your niche important?
The better you understand your niche, the better you are going to do.
What is necessary for scaling a business when starting?
You need a niche.
What matters more than effort or time worked in business?
It matters what boat you are in. Your Vehicle
What does a niche bring to a business?
Order and operational drag multipliers.
What happens if you spread yourself too thin in multiple markets?
You won’t be able to do ‘good work.’
What is the goal for operational drag multipliers?
Get as close as possible to ‘operational drag multiplier of 1.’
What is the impact of having more variables and systems in a business?
The harder it is to scale.
What is important to do with feedback from clients?
Use it to test and change.
What is the ideal timeframe to get clients results?
Within 48 hours or else within the first week. (as fast as possible)
What is the reality about competition in niches?
A small % of people can compete with you.
What is better, fewer clients with fantastic results or many clients who don’t stay?
Fewer clients with fantastic results.
What does saturation apply to?
A niche never saturates, offers & client acquisition methods do.
What should you consider when selecting a niche?
Select a niche whether you are interested in it.
Why might unpopular niches work well?
People have not been contacted yet.
What should you know about difficult niches?
The harder a niche is in the beginning, the less people will stick to it.
