The Only Time a Niche Matters

For the most part, I think niches only matter when you’re offering a $20k+ service to a $5MM+ business.

I’ve noticed this after generating tens of millions of dollars across various niches…

Including a Private Equity/Fintech I’ve consulted the last 2 years, which I am also an investor in.

In my experience, services below $20k for businesses below $5MM+, can follow much more of a cookie cutter approach…

That’s why masterminds & coaching groups work so well…

A lot of the sales processes (or do I say ‘revenue models’) work the same for the members inside.

Whether it’s Coaching, Consulting, Masterminds, B2B SaaS, you name it…

Typically you have your setter (BDR), Closer (Account Executive), etc.

As for Lower Ticket, DTC, Info, Courses, Subscriptions, etc…

Doesn’t matter if you’re using a Discord, Skool, FB group, etc…

…those methods still tend to work 99% of the time across those niches also.

Past that $5MM mark, though…

And again, this is in my experience…

That’s where companies rely more heavily on specialized consulting firms, investment banks, and so on…

The problems are much more complex…

They’re harder to learn on your own, even internally…

And they usually require sector-specific expertise to address effectively.

Now, if I was the only one who thought this way, I probably wouldn’t be writing this.

But lately, others have been agreeing with me as well.

And that’s actually what set me over the edge to start writing this post…

I was just at a networking event in New York, talking to a sharp “Growth Marketer”, who’s scaled multiple businesses (in multiple niches, too)…

And we literally couldn’t stop geeking over this whole, “are niches a thing?” Ordeal.

To which we both agreed, the only differences are the sales process and price point.

Is it a service or product?

And what’s the price point?

Similar service with similar price point—niche is quite irrelevant.

Similar product with similar price point—same thing (apart from COGS and whatnot).

And that’s fairly consistent, until you try scaling past $5MM…

Or need to solve a problem that COSTS more than $20k to solve.

At that point, industry expertise becomes more important.

The question then becomes, whether you’re business is at $5MM+ or not; and, if the service you’re hiring for or problem you’re trying to solve has a typical ‘market price’ of $20k or more.

If yes — look for industry expertise.

If not — just look for someone who has proven results in the role you’re hiring for… or in solving the problem you’re trying to solve.

Idk who else agrees with this.

Just something I’ve noticed.

A lot of times we complicate things.

When the reality is: Simple things work for many businesses, across many verticals.