Are you selling to multiple industries? Or find yourself limiting your growth chasing 1 hot market everyone on LinkedIn told you to be on?
Most clients I work with are NOT niched down (and that’s a good thing)
markets constantly evolve + we are always in a different point of the economic cycle
So how do we find which markets to place our bets on?
Here’s how I solve this with clients:
(I wish it were as simple as “3 easy steps” but I’ll do my best to make this straightforward)
1 – take a look at the best fit clients based on culture fit (do you like working with them) and lifetime value (hint: not all high LTV clients are a good fit)
2 – Identify what’s happening in each market: are there shifts in buying behavior, new technologies, or regulation? What’s changing with the market perception or culture’s influence on the market?…
…just a few questions to stir the thoughts.
3 – With all your current data and knowledge: where is the world going to be in 3 years? Yeah, big macro question here that no one has an answer to…
…but
if you want to look like a genius tomorrow, you have to do this work and place a bet today
(it’s risker to sit on your hands and do nothing)
Once you’ve placed a well informed bet: test it
Continue to win business in today’s market and test making offers and investing energy into the future market(s) you’re betting on.