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💡 The Lightbulb

💡 Specialize 'as broadly as practical'


If you’re still feeling like going too narrow on your niche feels risky, or even just uninteresting, you might find this 2020 episode of 2 Bobs helpful.

In a lively 30 minute conversation, David C. Baker and Blair Enns broke down the common objections to specialization.

Paraphrased they are:

  1. I don’t want to be pigeonholed
  2. Other successful people aren’t specialized
  3. Large consulting firms aren’t specialized
  4. I’ll get bored
  5. What if there’s a downturn in that niche?
  6. Won’t people appreciate a ‘blue sky’ thinker?

If any of these sound a bit too familiar, I’d highly recommend a listen or a read of the transcript.

Of the many gems, I thought the most resonant was David pointing out that the point isn’t actually to go as narrow as possible…

“You sometimes think if you listen to people like [me] long enough, that the goal is to position as narrow as possible. Your goal is really to position as broadly as practical, and for many firms, that means narrowing their position.”

Pair this with David’s now-canonical POV on the optimal number of competitors and prospects you should have, and you’ll see it’s about finding what I’ll call the Goldilocks market position:

Not so small that you risk there not being a proven, sustainable market.

Not so large that you’re replaceable by competitors, or irrelevant to prospects.

Sound delicate? Perhaps.

It’s a triangulation for sure.

But ultimately it can provide you both a sturdy foundation and some soft guardrails from which you can focus on delivering deep, differentiated value.

How cozy is that?

💡

-Wes

P.S. Coaching exploration calls booked up quickly -- just added more
If you're thinking it might be time for some dedicated 'in-the-trenches' support on your soloist journey, I just added 3 more exploration call slots on Tuesday, Nov 26.

Head into the US Thanksgiving holiday with your wheels turning :)

💡 The Lightbulb

A daily email about monetizing your corporate expertise. Give me ~1 minute a day, and I'll help you turn what you know into your most differentiated and lucrative asset.

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