Is the key to growing your business narrowing your niche?
I know that sounds contradictory. And I know many advisors worry about the “Million-Dollar Prospect” who swipes past your firm because she's a pediatrician and you specialize in orthodontists.
But if you're one of 10 advisors in town that offer the same services, you have a 10% chance of winning a prospect. If your specialization, your marketing, and your values set you apart, then prospects who are drawn to your firm have a binary choice: you versus everyone else. Your 10% chance just skyrocketed to 50%!
My guest today, Samuel Deane, started with a pretty narrow niche: comprehensive planning for millennials working in tech. Then, Samuel zeroed in on a niche within his niche where Deane Financial Partners could establish a real competitive advantage and make a positive impact on communities across the country.