Much has been written about the uber-successful entrepreneurs who have not only made a name for themselves, but they have improved the lives of millions of people. Think Gates, Jobs, Branson, Bezos. These men have built incredible companies that transcend their own lives and deliver world-class solutions to people all over the world. How did they do it and what can you do to emulate them as an advisor, albeit maybe on a smaller scale?
Do more of less.
Some of the greatest personal development thinkers and coaches (great entrepreneurs themselves) have written and spoken extensively on the topic of discovering, analyzing, and developing your unique strengths and abilities, those very few things that you do at a level that is masterful, yet often overlooked by you because you do them so naturally. Whether it’s Dan Sullivan of Strategic Coach, Dan Kennedy, or Darren Hardy (author of The Compound Effect), they know these truths and can show you very practical ways to build a business that leverages your genius. Yes, you’re a genius in your very specific and unique way. That’s your enduring competitive advantage – nobody can out-you…you.
On a very practical level, I encourage you to become clear on one thing, as quickly as you can. What specific niche will you serve in your business? What very specific person benefits most from your advisory services, and whom do you most enjoy serving? Once you have that answer, narrow it even further. Devote the necessary time to those questions and you’ll be well on your way to transforming your service, your business, your life.
Let’s consider a few examples to get you started. After taking a close look at her clientele, one advisor discovered that she had a surprising number of dentists as clients. How did this happen? Well, it turns out that a very good friend of hers is a dentist and the news about this advisor’s unique insights into the challenges of owning a dental practice spread; not quickly, but steadily enough that she hadn’t really noticed the trend. What if she started a niche offering for dentists?
Consider a very different example. An advisor who had become divorced learned a lot about himself and divorce in general by living it out in his own life. This resulted in him gaining incredible insights into the nuances of planning through divorce. This made him a natural advocate for others living through their own divorce.
And you can dive even deeper into your own set of strengths and weaknesses in order to discover what work you should – or shouldn’t – be doing each day. If you’re great in first meetings with prospects but find yourself struggling to get excited about putting together the actual plan for a client, then consider how you can build a team around you to allow them to perform the planning functions while you focus on just the relationships. Hate the phone? Then get it off your desk for good. Have a process that delegates all phone work to another person on your team who enjoys it.
Focusing increasing amounts of your energy, time, and money on fewer and fewer activities that few people can do as well as you, and you will shock yourself with the results you achieve. In other words, declare your intention to be an expert in something very focused and congruent with your hard-wiring and build a team and resources around you to allow you to do more of that. Do more of less.
We all know that there are riches in niches, but what are you doing each day to deliberately and progressively develop your niche and your expertise within that niche? The work is challenging, the results are profound.