Do you think that by claiming that your service business can do everything you will be able to achieve higher revenues? If you feel this way, you are not alone.
Many entrepreneurs feel that by offering more services they will have more income streams, leading to higher overall revenues. However, in practice, this is just not true for a small business. Consumers want an expert. As a business owner, you need to go niche or go broke
You would never go to a doctor that said: “after we finish your physical I can fix your crown”.
You would figure that if he was a knowledgeable Doctor of Medicine that he could not also be a knowledgeable Dentist. You would simply choose one medical doctor and a different dentist.
To be considered an expert and therefore be worthy of someone buying from you, you have to demonstrate focus by being an inch wide and a mile deep. You must be able to show that you have the skills that make you better in your specific area of expertise than your competitors. Therefore you need to go niche or risk going broke.
Are you spreading yourself out too thin by claiming to be an expert in too many areas?
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