Niche Down

Lesson Learned from a business owner

Another lesson I wanted to share (which is not a written rule, just an observation btw), is on the business side. Many of us in this community are running our own practices and businesses in varying capacities. And attempting to run a business is one of the most demanding endeavors we can engage in - because running a business has little to do with your knowledge of sport psychology.

As a business owner who has been on his fourth attempt over the last ten years to tackle a business, there has been one glaring observation I have made - by trying to show how my skillset fits different groups (leaders, football players, etc.) I got lost. It was difficult to show value and I was spread to thin. By running around trying to capture any contract I wasn’t focused. I became the cliché, “hard working” but no results.

This is not unique to me or even the field of sport psychology and it lends itself to this statement:

You need to niche down, not up.

This phrase simply means, you need to be very specific with your business vision and specialize if possible. I’ve heard many successful business owners discuss this and I’ve even heard social media guru’s like Gary V discuss the importance of getting good at one platform before tackling another (and btw - he is also someone who is on almost every platform).

So, what does niching down mean in our field?

• Have a featured service, program, or course

• Have a niche audience (college football, pro soccer, e-gaming, etc.)

Last year, I started focusing my attention solely on college football and it allowed me to create football specific training programs and resources. This year, I’ve focused on recent graduates. Creating content and resources (still in progress) dedicated to specific needs. Point I’m making here, is when you specialize I’ve also noticed the level of creativity skyrockets. Are their con’s - of course because most of us enjoy multiple roles in the field - but from a business perspective the benefits have been immeasurable.

THE PATH AHEAD

Niche down, not up.

• If you want to provide one on one services. Do it better than everyone else. Client resources, on-boarding and assessment usage, follow-up and support options. Own it, crush it.

• If you want a program, build it. Build a mindset program that represents your philosophy. Market it and support it better than everyone else.

• If you want to specialize with an audience. Do it! Build your mental skills in a way that integrates with that group. Crush it!

Now - I say this slightly cheeky. It is not about stepping on colleagues or anything like that. But specializing helps focus your effort and attention, which in turn helps you sharpen your process.

For others who are running a business, have you experienced similar things or what has your lessons been?