Are Mantyhose a niche?Jan 10th, 2009 | By Kirk Ward | Category: Marketing Professional Services, Marketing Through Practice Specialization
In the news recently I was reminded of how varied niches can be for your practice and for your practice building arsenal when I stumbled across the story about Mantyhose and their introduction into the United states.
I guess most men didn’t know they needed a male version of pantyhose. They probably have trouble picturing themselves wearing a lovely dove-gray pair of Mantyhose under their jeans.
But, it’s here, whether we like it or not, and it highlights how unique and specific the particular niche you select can be. Your biggest hurdle is going to be deciding if there are enough potential fees to be generated in the market you want to serve.
Want real life examples, this time from the accounting field? Take a look at Michelle Golden’s list of accounting and accounting related blogs. In this list, Michelle lists niches serving industries such as churches and religious institutions, construction and accounting, energy, healthcare, finance and lending, non-profit and transportation.
There are gazillions of niches, and you can probably become “the” expert in at least one. You just have to identify it, and develop your recognition as the expert to go to for answers. And, of course you’ll do that using the high powered Rainmaker tips you get here and in places like Ford Harding’s blog, and in his book Rain Making: Attract New Clients No Matter What Your Field.
While I can’t think of a niche that is quite as unique as Mantyhose, although I’ll try, I can think of several that I have seen developed by local practitioners, that range from those with large number of small independent units, such as restaurant, convenience store, home construction (although I’m not sure that is one that is growing right now!), and farming. Some small practitioners have been able to break into industry niches and earn significant fees with clients in fields such as non-profit organizations, oil and gas distribution, transportation and specialty manufacturing.
One growing niche servicing the real estate field is Cost Segregation and can lead to increased fees on several fronts, from the actual Cost Segregation Audit itself, to regular compliance reporting, and loan packaging. As a shameless plug for my membership site http://instantpracticebuilder.com, we are developing a complete Cost Segregation manual and marketing system for our members, so if you haven’t joined yet, run on over and sign up before everyone else discovers us and beats you to the niche.
So, the upshot of this post is that niches are all around us, and it doesn’t seem to be too difficult to find one. Mostly it winds up being found at the intersection of two factors; (1) What you are interested in, and (2) Whether there are enough fees to be generated in that niche for you to maintain the standard of living you would like to become accustomed to.
Byword for today … Find it, niche it, sell it! (Boy, that was dumb.)