The biggest fear that advisors have when it comes to niches is this – “What if I say I specialize working with surgeons and a valuable prospect who is a non-surgeon might look elsewhere?”

This is one of the fears that only rests in our minds and has no basis in reality.

When you focus on a niche, not only do you attract clients from that niche, but you will also generally attract others outside of the niche (who see relevance in the work you do).

Professionals who focus on a niche generally tend to become the best in that space. This attracts others too.

People who want to work with you will see relevance in your work and seek you out.

Let me end this one with a secret: Niches have No Real Competition. It’s because no one is doing it. No one believes it works and thus no one ends up doing it. The ones who do end up doing it manage to outperform their peers by a mile.