Niche Wealth: Why I Became a Niche Entrepreneur

It’s safe to say that I was good at my job. In fact, very good at my job. I loved working in public relations and invested time, energy and money in my career. It was also shown: my clients were happy, my supervisors were happy, and I was happy with the work I did.

For ten years, that was enough. I spent a decade in the industry, ten years that brought me all sorts of skills, valuable industry knowledge, a ton of hands-on experience, and a vast network of contacts.

How much of this helped when the economy suffered a recession and my employers were forced to downsize? Neither. Not a bit. I went out with many of my contemporaries.

Believe it or not, the same thing happened in the next job.

And the next.

Why was this happening?

It was happening because he had made the classic professional mistake. I would become invisible.

I don’t mean that I would become transparent. Physically, of course, nothing had changed. But in a market full of PR professionals, nothing made me stand out from the crowd. I was one in a million: the proverbial tree in the forest. Then when it was time to cut down that forest, I was one of the first to go.

Does it sound familiar to you? Most likely you can. Some of you may recognize my situation, as it was certainly not unusual or exclusive in the field of public relations. Accountants, lawyers, financial advisers, marketing managers, advertising professionals, you name it, service professionals of all types face the same problem. The market is full of highly trained professionals offering the highest quality services, but the consumer would have a hard time recognizing one provider from another.

Nothing differentiates one advisor from another. Can your clients tell which of a dozen advertising executives has the information they need to manage their account? There is a real equality problem. Not only does the public view the services offered as commodities, but the service providers are also on the path of destruction, becoming commodities as well.

I don’t know about you, but personally, the idea of ​​becoming a commodity doesn’t appeal. I don’t see myself in those terms. I don’t think my experience and passion can be exchanged for that of any of my colleagues and no one would be the wiser. I especially didn’t want the label “merchandise” when it meant that my livelihood was subject to the vagaries of the financial market.

More importantly, I didn’t want my personal success to depend on the success of the people I worked for. The change was definitely necessary and it was time for me to take charge of my own destiny.

I made a promise to myself: if my ship sank, it would sink with me standing at the helm. If no one was looking out for my best interests, it was up to me to do it.

At this point, I decided to take a hard look at the people who were successful: industry leaders, gurus, speakers, professors, and teachers in their professions. These highly successful and visible entrepreneurs had three traits in common:

– All were considered experts in their fields.

– All made substantial and continuous efforts to promote their expert identity.

– Everyone achieved their position through hard work and smart marketing.

I quickly realized that none of them were born an expert. Experts are not born, they are made. The process analysis of how some professionals achieve high-profile success revealed some surprising secrets: There are seven comprehensive steps that service professionals can take to position themselves as Experts.

Being the expert is the most lucrative and prominent place in any market niche. Having realized that, I had to find my own niche. If these other professionals could position themselves as Experts, so could I.

But in what niche? I looked at my career. I focused my attention on the areas that my experience gave me the most pleasure. He had spent countless hours helping exhibitors be more effective at trade shows. Much of this work included training and coaching staff members who worked on the program on behalf of their company. I felt confident advising clients on what was working and what was not working on the trade show floor.

The path was clear: For the past twenty years, I have enjoyed a very comfortable existence as a trade show coach. It’s been wonderful – world travel, lucrative conference engagements, work I enjoy. Who could ask for more?

Combining my professional skills with my personal passions led me to the career of my dreams – one in which my success depended on no one else. Being a niche entrepreneur worked for me, and it can work for you!