You Don't Know What You Don't Know

Are you trying to learn everything about everything in an effort to save money? Sure, it’s tough to admit you need help but if you continue being everything to everyone, you’ll burn out and resent your business.

Years ago when I was first starting my business I was in an online conversation about the importance of choosing a niche for your business rather than just saying, “I want to serve EVERYBODY.”

Of course, you want to make money so instinctively business owners tell themselves that it’s better to appeal to more people than a selective few. But somebody in the conversation responded by saying, “Do you want to be known as Walmart or do you want to be known as Neiman Marcus?”

The point is Walmart appeals to everyone, but they depend on the sheer volume of customers to make their profit.

Neiman Marcus (designer goods), on the other hand, appeals to a very specific demographic which has the disposable income to spend and they don’t...

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