Most consultants position themselves too broadly in terms of who they serve.
To give you an example, when I started consulting for the coworking industry, I was nervous it was way too niche.
There are fewer than 20,000 coworking spaces worldwide. It didn’t seem like nearly enough. But it turns out, that’s plenty.
Now, I know I could niche even further and widen my competitive moat by focusing exclusively on multi-location spaces.
It’s crossed my mind, but for now it’s not necessary.
To give you another example, when I started Mindshare, it was originally for independent professionals.
Like… what? I was thinking freelancers, consultants, and other independent knowledge workers.
I quickly realized I had no mooring. No center of gravity. Nobody would relate to that idea.
I tightened up my positioning to focus on independent marketing professionals. Then further to marketing advisors and strategists of all stripes.
Since then, my content has become far more focused. People in my target market tell me how much it resonates with their situation. They say it feels like it was written precisely for them.
And I still attract people who freelance and run agencies because they do similar things and my ideas are still completely applicable.
Remember, your market is bigger than your target.
There are big businesses in tiny niches.
Niche until it hurts.