As entrepreneurs, we’re like special unicorns that usually have a lot of experience and can do multiple things. But having a unicorn business can be exhausting for us and confusing for potential clients. Maybe you feel overwhelmed by the multiple offers and products or services that you offer. Or you might struggle to market all of them at the same time. You could be facing challenges keeping track of the latest developments in your broad market. It may be time to narrow your specialization and niche down.
I’m excited to dive deeper into this conversation with our guest Natalie Eckdahl. Natalie launched the Biz Chix podcast back in 2014, and she has been serving women entrepreneurs ever since. Her company, Biz Chix, Inc, helps service entrepreneurs build enduring, profitable, and sustainable businesses. She’s the creator of the $ix Figures Lab, a year-long group coaching program for women service-based business owners. Natalie helps these women grow and scale a profitable business by providing strategy, coaching, accountability, and community.
But what exactly is specializing and niching? Well, in Natalie’s words, “We can specialize by the work we do, the type of work we do, we niche by who we do it for.”
“But if you’re trying to build a business that will scale, the first place you need to start is with positioning, and that involves some experimenting to figure out where you’re going to put yourself in the marketplace.” – Natalie Eckdahl
Why should we specialize and niche? What are the benefits? Here are three things Natalie talks about more in this episode:
But what are the challenges of specializing and niching? There must be a mindset shift. It takes time (even up to a year) to have only your new niche or specialty clients. Letting go of former investments and sunk costs. Repelling potential clients and projects that are no longer your specialty. Natalie tells us how to deal with these challenges and make the best of this transition period.
“I want to help people build a business that will be enduring. So it needs to be enjoyable, profitable, and sustainable. If it’s not all three, they’re not going to stick with it.”
– Natalie Eckdahl
This is an easier process when you’re being guided through it, and when you have a community of people around you who are also doing the exact same thing, which is exactly what her coaching program, $ix Figures Lab, offers. We learn what sets it apart from others in the market, from a solid community of entrepreneurs, business resources, and trainings you can access at any time, guided goal setting and check-ins, and easy access to Natalie herself.
Listen in to hear all Natalie has to say about specializing and niching down and learn how you can apply it to your own business.
Links from Today’s Episode: