Not Everyone Needs a Niche [Episode 313]
What You'll Learn In Today's Episode:
- Niching is not a shortcut but a necessary component of a practice.
- Not everyone needs to niche; it depends on individual goals.
- Advertising is often an ego play without measurable ROI.
- Finding a niche requires deep understanding and access to the target audience.
- Building trust with clients is crucial for successful niching.
- It’s important to communicate in the language of your niche.
- Invest time in learning and developing expertise in your niche.
- Commonalities among current clients can guide niche selection.
- Integrity is key when discussing your expertise with clients.
- Action is required to develop and grow your niche.
In this episode, Micah and Jarvis discuss the concept of niching in the financial advisory space, exploring its importance, the distinction between advertising and marketing, and the journey of finding and developing a niche. They emphasize the need for advisors to understand their clients deeply, build trust, and take actionable steps towards establishing their niche. The conversation highlights the long-term commitment required for successful niching and the importance of integrity in client relationships.
