Crippled CEO Blog #149:
I was enjoying some amazing French fry crusted triple tail snapper from the Food Shack food truck before an undisclosed concert at an undisclosed date and time when my good friend, Jennifer Gomez, said something profound. (Also, real quick, when does a friend become a good friend? How do I know that she thinks she’s a good friend? Or is she going to read this and think, “I mean, we’re friends, but I don’t know about GOOD friends. Who does this guy think he is?!” But then, what if I don’t call her a good friend, and she gets upset in the other direction? It’s very tricky. Anyways…)
I was talking about Jen saying something profound.
Oh! Real quick again! Jen is an awesome estate attorney. And I’m not just saying this because we are friends (good friends?). She really is. If you think you might die someday, you should really hit her up to make sure that you don’t totally blow it. I think www.JenniferGomez.com is the best way to reach her.
Alright, back to Jen’s profundity…
I was struggling to stab my (incredibly delicious) fish with the spork that the food truck supplied when she said, “Sporks are evidence that everyone needs a niche.”
At that point, I rose from my seat and gave her a standing ovation.
Just kidding. I can’t stand. Or clap. But I would have. Because she was absolutely correct.
We have a tendency to think generalizing is the smart thing to do. If we can appeal to more people, then we can have more customers. For example, why would we want to sell a product that’s only for SOME parents, when you can offer something for ALL parents? Isn’t that better?
The issue is that if you try to appeal to everybody, you’re not doing a great job for anybody.
If you’re looking to hire a lawyer to set up your estate plan, are you going to pick a lawyer who kind of does everything, or a specialist like Jennifer Gomez who only does the thing you’re looking for?
If you were a real estate agent looking to hire a web designer, do you choose the company who serves everybody, or the web designer who only specializes in making websites for real estate agents?
Back to my parent example above, if you think appealing to all parents is better than some parents, then you would conclude that my business is a terrible idea.
Our product is only meant for parents and grandparents who have children under six years old. And not even ALL parents of kids under six — only parents who have a child under six, own their home, AND have a swimming pool.
That is a very specific demographic.
But it actually gets even more specific than that. In addition to all of the above, you have to be the type of parent who understands the necessity of protecting their pool. AND, on top of that, we cater to the kind of customer who wants to pay more for higher quality and better service. In this already very specific target market, we have deliberately excluded even more people from buying from us.
At first glance, this seems really dumb. The percentage of people on Earth who can buy from us is so small.
But the reality is that if you fit that very specific description — if you have a 3 year old, own a home with a pool, want to protect it, and want to invest more to get the best, safest product, then Life Saver Pool Fence is the only choice that makes sense for you. And apparently, there are enough people who fit that description around the world to support over 100 people financially year after year, for 35 years and running.
You are far better off being the best and only choice for the kind of people you want to serve than being one of 1 million choices for everybody.
Listen to my (good?) friend Jen. She’s smart. Don’t be a spork. Sporks suck. Choose your niche and make it as specific as you possibly can.
(Do you know who dominated her niche with me last night? Your mom. Your mom also gets a text from me every Sunday with a link to the latest blog post. Send a text to 561-726-1567 with the word CRIP as the message to get a link to the blog as soon as it’s up.
Did you know that I have a YouTube channel now? I do! I am putting up two videos every single week. Go search for Crippled CEO and you’ll find me. I would appreciate it if you subscribed.)