To niche or not to niche, that is the question.
Many freelancers have the "jack of all trades" mentality. To survive in the freelance business, we take on a variety of projects in a variety of industries. That's what Austin did for 6 years. As a generalist, he made freelancing harder on himself.
After adopting more of an abundance mindset, Austin specialized in content marketing for tech founders and SaaS companies. Specialization simplified his marketing.
When you study freelancers or consultants who make six or seven figures, you’ll notice they provide only a handful of services or outcomes for a narrow slice of a single market or industry.
Picking a niche can help you make more money as a freelancer and find more satisfaction from your work.
In Episode 006, Austin shares 16 benefits of finding a profitable and sustainable nice niche and explains why so many freelancers still choose not to specialize despite the apparent benefits. He also tackles 4 myths about niching down to encourage more freelancers to take the leap.
Key points
- Intro (00:00)
- Identifying Your Niche (or Is It Even Necessary?) (00:36)
- The Difference Between Being a Generalist and a Specialist in Marketing (02:17)
- So, What Are the Benefits of Niching Down? (03:47)
- And Why Doesn’t Every Freelancer Specialize? (10:08)
- Debunking Niching Down Myths: I Want To Tell You What’s Really True (12:28)
- Real Niche Product Examples That Found Success in Specializing (15:10)
- How Do You Know a Nice Niche When You See One? (21:05)
- Things (Lenses) To Look Out for in Finding Your Niche (23:10)
- Resolving Two Long-Standing Disputes in Freelancing (27:05)
- You’re the Boss, You Make the Rules (28:31)
Notable Quotes
“When you’re a generalist, you believe that anyone can be your client. When you’re targeting everyone, you target no one.”
"If there's one thing in your freelance business that you should put some work into, it's scarcity mindset."
