Case Study – Niching Down to Scale Up with Fidu
This week we are continuing the discussion about scaling up your business.
According to Blaine Korte, founder of Fidu Legal and this week’s guest, niching down is critical to your business. It doesn’t mean that you aren’t reaching other people who may want to work with you, it’s just that your messaging isn’t targeting them right now.
As in all aspects of business, when you niche down, you need to know your value. This will affect your pricing and your client experience. Not everyone you work with will fit within the parameters you may have set for your services (see Fidu’s pricing chart below), but knowing your value allows you to make adjustments so each client gets the same customer experience as others, but you are maintaining your pricing as well.
Once you have a working model set in place, you can use it to open up other brands and niches or even expand within your current niche.
One thing to remember is that a niched market doesn’t equal a small market. There is always someone looking for what you offer and by simplifying your messaging, you can find them.
I went into business to have more flexibility in life and all this stuff. And eventually, at least for me, I figured out what I wanted out of life and out of business, and how business can get me kind of what I want out of life more. And along the same timeline, I stopped thinking that all I had to do was work in life to get ahead and kind of put all these pieces together. And of course, having kids is a big impact on that as well. But you come to realize that it’s not just all about the business that you’re running; it’s about the life that you’re living as you’re running the business. It’s a big, big motivator in my life to help in one small way, provide a little bit of that flexibility and peace to a profession that generally doesn’t have it.
Mentioned in this episode:
- Eden Law Firm
- Fidu Legal
- Episode 137: 3 Quick Ways too Scale Up Your Business
- Example of Fidu Legal’s pricing chart
