41: Small Markets, Big Profits
Description
I ran a management consulting business for 12 years, and during that time and beyond, I spoke to hundreds of consulting business owners.
Most of them mention having a client acquisition problem—they don’t know where to look for clients, how to approach them, how to craft an appealing proposal, or how to convert leads faster.
However, upon deeper investigation, I realized that most of them hadn't considered who they served and what value they provided. ⚖
Moreover, many targeted a broad spectrum of clients and got lost in the noise. To them, a wide reach seemed crucial because it allowed them to serve a larger client base.
To me, this is a fundamental problem that almost every consultant, advisor, and fractional executive I meet faces. They often fail to grasp the power of small markets and frequently misunderstand the concept of niching down. 👎 Some remain in the same place for decades without realizing how the principle of niching down can kickstart growth.
In this session, I’ll break down my own experience, transitioning from a generalist to a specialist consultant, and establishing my firm in a small, unknown niche, executing over 100 highly profitable engagements in that specific market alone. When you choose and serve the right niche, you can:
🎯 Increase sales faster
🎯 Drive higher gross profit
🎯 Eliminate losing deals over pricing
🎯 Consistently deliver results for clients
🎯 Have dream clients WANT to work with you
To follow along with visuals, join the Consulting Growth Hub community and access all the video replays: https://www.skool.com/b2b-consulting-growth-6639/about
Interested in adding $100K to 500K in new consulting revenue in 12mos?Check out our website to learn how we can help: https://www.consultingleap.com/Follow or connect with Faheem Moosa (let me know you listened to the podcast): https://www.linkedin.com/in/faheemmoosa/