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Value Creation Blog

Why You Might Have A Hard Time Saying No - Niche Management

niche managementI’ve been reading about why people have the need to text and drive.  It appears that many of us find that when the bell goes off with a new text message a bit of dopamine gets released in our brain.  We get a pleasant feeling that someone likes us and wants to communicate with us.  I know that happens when I get a text message and it might be the same for you.

We all know that we’re not supposed to answer text messages while driving.  I’ve learned to discipline myself not to respond or even look when I’m behind the wheel.  I can say that the first thing I do when I stop driving is to see what the text is about.  It’s not because I’m being polite it’s because someone has decided to reach out to me in some way.

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Topics: business coaching, for business owners, niche clients, niche management

Community Building and Why It’s Important for You

business tribe niche resized 600I’m involved in an online writing class.  This class has become much more than being about writing.  It has put together a diverse group of people.  We come from different ages, businesses, business experiences, and expectations.  We’ve also become a group of people who have learned to trust and respect each other; a tribe of sorts.

You might ask how did this happen?  You might even be very skeptical that an online writing class can get to the point where many of us go way out of our way to help others. 

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Topics: business coaching, business relationship management, trust, niche management, niche

4 Ways We Help Specialty Manufacturers

specialty manufacture resized 600I’ve been working with several specialty manufacturers recently.  All of them have been in different parts of the specialty-manufacturing world.  We’ve found some common strategies that have helped them improve the enterprise value of their companies.

Focusing on one of the four issues below can help improve the value of your company.  Here are some things you should think about concentrating on if you’re in the specialty manufacturing business:

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Topics: value creation, enterprise value, niche management, niche

Really, You Need A Platform – Creating Value

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Topics: for business owners, value creation, Focus, niche business, niche management

Should You Pay Your Salespeople Commissions?

salesteamI’ve recently been involved with helping a company work through a variable compensation plan.  One of the sticking points with the plan was what to do with the salespeople in the company. 

They had been paid a commission for years.  We were struggling with whether paying a commission served the company, the salespeople, and the customers well. 

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Topics: business coaching, value creation, niche management, niche

3 Steps To Becoming A Nicheaholic - Niche Management

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Topics: for business owners, niche business, specialists, niche management

At Stage 2 We Love Niches

niche markets working togetherI’ve written extensively on niches and why I think they’re important.  When one has a niche they don’t have to re-invent the wheel every time they work with a new client.   We believe that having the right person serve a customer is an important.

At Stage 2 Planning Partners each of us has a different niche.  Some people would say that we’re inefficient in how we service our clients.  I would submit that we can help a wide variety of people by matching them with the right person in our firm.

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Topics: advisor to advisor, specialists, niche management, niche

Want To Be Successful? Work With Clients You’ll Be Successful With

Successful Partnership

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Topics: for business owners, strategic marketing, niche management, niche

5 Reasons a Business Should Be a Niche-aholic

niche marketingI admit it, I’m a niche-aholic.  When I think about business I’m always thinking about developing a niche or working within a niche.  I’ve learned that when a business stays within a niche they’ve developed they often outperform those that don’t.

A niche is not a market segment.  For example, if you’re in the financial services business and you say your niche is someone who has $500,000 in investable assets, you have no niche.  What you have is a market segment.  If instead you said that my niche is someone who is 55 years old and has worked in a particular industry at a particular group of companies, you now have a niche.

When you describe to others what your niche is they will immediately understand what you’re talking about.  Some of the benefits you get from understanding and staying with a niche are:

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Topics: value creation, niche business, value enhancement, niche management, niche

How Often Do You Say No? – Niche Management

say no to say yes resized 600I find a key to managing your niche is tracking how often you say no to potential customers.  If you’re not saying no a significant amount of the time you don’t have a niche.  You might have a market segment that you work with but you don’t have a niche.

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Topics: for business owners, strategic marketing, niche management

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