How tightening your niche can transform your business

By Tommi Wolfe, The Startup Expert and CWCC Member

I love birds. I am a closet ornithologist and can identify over 120 bird calls by ear. (Yes, I know, I am a serious geek!) Not surprising then that I chose a hummingbird on my Wolfe Potential logo. For me it represented freedom and escaping my old, crazy corporate job. And it represented a love of mine – birds!

If you are observant, you may have noticed that my new logo is different. No hummingbird! So why did I kill my hummingbird? It’s a great story! I have tightened up my niche and brand. I tweaked a few things. My hummingbird is now as eagle. And…. Wow! What amazing results! While I am still doing the same work as I was before, my niche and brand efforts have doubled my signings in a few weeks, compared to my signings during the rest of 2010!

Tightening your niche can transform your business

As a business coach, I already know the importance of a  tight niche. The marketing power of a laser-focused niche is extraordinary! I consider it a foundational step in building a successful business that attracts clients easily. So I do continually work at ensuring my niche is specific.

Nonetheless, I made some bold moves recently.  I had to!  I have been coaching around jobs — both careerists and entrepreneurs, and I had to admit the entrepreneur side of my business was so thrilling to me. Plus, I was getting amazing results for my clients. I knew this was my true gift and passion – helping entrepreneurs build amazing businesses. However, my logo, website and marketing materials were still catering to the broader audience.  I had known this for quite a while but (I am sorry to say) procrastinated taking any action on narrowing my niche appropriately. Let’s face it – who wants to go through the grind of a name change, a new website, new business cards etc…..   What a nuisance!

Still, I wanted to practice what I preach and this was becoming an issue. It is a little embarrassing to teach a class of budding entrepreneurs about defining a powerful niche when mine was a lousy example. So, inspired by one of my clients asking me an embarrassing question, I took the plunge…

Here is what I did:

• I changed my name from Wolfe Potential to The Startup Expert. This was easy.
• I narrowed my niche formally to just entrepreneurs, and then again to newer, self-employed entrepreneurs. This took courage.
• I changed my logo somewhat. My humming bird transformed to a more powerful bird at the brave suggestion of my talented and beautiful Russian designer Eugenia Kreider. This was sad – I loved my humming bird.
• I added a more specific slogan. This was very easy, I just named the top benefits my clients experience.
• I re-wrote my entire website to cater precisely to my narrower niche. Honestly – what a pain!

Voila! Results after one month of the new look? Here is my powerful and immediate response.

In one month I have had:

• 500% more signups for my Ezine than I have had so far in 2010
• 300% more inquiries than I have had year to date
• 200% increase in signings (right into my top dollar coaching programs too!)

And I have only just done it! Interested? You should be – these are results any business owner or solopreneur would love. So yes, niche definition is pretty important. I teach my clients how to do this in Class Two of my 10 part tele-series “$uper $mart $tart – Bootcamp”.  And it is one of the first things I do one-on-one with my coaching clients in my $uper $mart $tart – Lightning Launch or Go for Gold” programs.

How can you grow your own business using this technique? Try my Action Step below:

Action Step for you:

How could you make your niche even more specific?

What steps do you need to take in order to enjoy the huge financial advantages of a laser-focused niche?

If this article has piqued your interest and you want more specifics on how to answer the above questions and move forward successfully in your business, join Tommi and the CWCC for the March 16th,  power-packed, all day seminar Client Attraction Secrets Live.

Tommi Wolfe specializes in helping new, service-based companies start and grow quickly, simply, and profitably.  She can help you in two special ways. She can make sure you have the entrepreneurial skills and techniques you need to run an awesome business. And, because she’s been down this road before, she can provide the excellent support system you need.  For more information visit www.thestartupexpert.com.