Warning – This May Hurt!
When you suggest that you specialize in commercial, industrial, and residential, what you in effect are saying is, “we don’t specialize in anything.”
And if missing out on your best clients is okay, or if you don’t care about getting top dollar for your work, that message is acceptable. Just sayen’.
There is a better way.
Riches in Niches
Does saying, “I want fewer clients,” scare you?
It shouldn’t!
It shouldn’t if you understand the principles behind riches in niches.
Five of the basic principles are:
Your marketing is easier and more effective due to having a specific target at which to aim.
There are fewer direct competitors.
You gain a fuller understanding of those needing your niche services and can answer their questions better than others – thus, serving them better.
Your team develops skills especially suited to completing their jobs efficiently.
Your higher level of expertise allows you to charge accordingly – you are the expert.
Getting Noticed
Defining your construction business by “your industry” makes it incredibly hard to get noticed.
When you can say to your future clients, “We know you, we know your needs, we know the exact problems you’re facing, and we know how to solve those problems because that’s what we do,” you have a distinct edge.
Niche Like This
Looking at eating establishments will show “how it is done.” For example, you don’t go to McDonald’s hoping to eat an excellent steak dinner. And you don’t go to In-N-Out if you want anything other than hamburgers and fries. Nor do you go to Ruth’s Chris Steak House expecting an inexpensive, quick meal.
Helping your potential clients know what you serve and how much they can expect to pay for what you serve makes sense. They don’t come to you hoping to get a fast, cheap meal when what you serve includes filet and ribeye.
There’s a Division for That
If the idea of niching down has you squirming, if you’re worried that you’ll lose too many of your long-term clients, or if you’re concerned about keeping the pipeline flowing, consider a niche division.
The idea is to market to the right people at the right time in the right way.
It may include a second and distinct website presence.
Or it may mean that your niche is highlighted on your website with secondary links to other services.
Another Benefit of the Niche
When you choose a niche, your clients and potential clients know that you’re the one with the most expertise in that area. But wait! There’s more!
There is a list of others who also know that you’re the one to call when they learn of someone who needs your specific offering – because (uh hum) you’re the expert!
Some of those on the list include:
Your suppliers
Your service providers
The other members of your trade association
Bankers you use
Your insurance providers
Your tax preparer
The guy next door
Cash-In on the Niche
As you’ve gathered by now, one way to cash in on your niche is to increase your rates. But other things come from your niche expertise.
It is easier to inspire confidence
Establishing your brand identity is straightforward
Your business decisions are more manageable
Building collaboration and making connections goes more smoothly
You can add another stream of income by teaching others
Find Your Niche
There are different ways to select your niche. Start by asking questions.
Which type of project do I most enjoy?
Of our different types of jobs, which pay off best?
What needs can I solve that others aren’t addressing?
Where does my crew shine?
In the past, I wanted to . . .
You get the idea.
Finally, there will probably be a learning curve, and settling on your niche may take some time or may come quickly. Keep in mind that persistence and patience move you to more profits in your chosen niche.
Construction Contractors look to The Profit Constructors to provide advocacy in dealing with:
Clients and customers
Employees and subcontractors
Vendors and service providers
Governmental entities
Working with The Profit Constructors gives Construction Contractors the means to organize their operations in ways that help them:
Remain informed
Avoid hassles
Reduce risks
Be future-ready
Ready for action? Or want to know more? Get in touch today to schedule a complimentary discovery call. 866-629-7735
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