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Episode 1130

Should You Switch Your Niche? A Deep Dive Coaching Session: Episode 1130


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Episode 1130 – Should You Switch Your Niche? A Deep Dive Coaching Session

Is It Ever the Right Time to Switch Niches?

Mike Campion never says “never” in business, especially when it comes to changing niches. While he generally advises against switching, he acknowledges there could be times when it makes sense. The real question is, does it make sense for you to switch right now?

Adding a New Niche, Not Switching

Jessica, a cleaning business owner, asked about adding a commercial cleaning job to her residential services. Mike’s advice? Don’t make decisions based on one random opportunity. Instead, focus on solving your core business problems first. The risk of pivoting to commercial cleaning without a solid plan could lead to unnecessary complications.

Identify Your Core Problems

Mike emphasizes starting with first principles. For Jessica, this meant figuring out her biggest challenges: needing to increase revenue and get out of cleaning tasks herself. He suggests prioritizing these issues rather than getting distracted by new opportunities that may not align with her main goals.

Analyze the Opportunity Critically

Jessica’s potential commercial job seemed appealing, but Mike urged caution. He pointed out that relying on a single, uncertain opportunity to decide a major business shift isn’t wise. Instead, he recommended understanding why the offer was made and ensuring it aligns with her long-term goals before making any commitments.

Stick to Your Core Goals

For anyone in a similar situation, Mike’s framework is clear: understand your primary problems and focus on solving them within your current niche. While diversifying can be tempting, it should only be considered if it directly supports your core business objectives without introducing unnecessary risks.
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