How To Choose a Profitable Niche For Your Recording Studio

Answer this question: When it comes to your studio, what is the one thing that you're known for?

If you can't answer that, it may be time to find some way to “niche down”.

Most people think that “niching down” means you’re going to be turning away money even when you aren’t making much to begin with.

The reality is this: Your fear is keeping you from seeing the bigger picture. “The riches are in the niches,” so this episode is all about helping you choose a profitable niche to dominate.

Click the play button below in order to listen to this episode:

What is Niching down?

Niching down is focusing on one specific area and focusing only on that. There are many different ways that you can niche down; genre, service, location etc.

“Major in your majors and minor in your minors” – Chris Graham

If You Niche Down, You’re Missing Out On Income… Not True!

When you’re focusing on projects or tasks that you don’t want to do, that’s time lost doing projects that you should be doing. By focusing on the one thing that you’re best at, allows you to become the go-to person for that one thing.

“A successful person can walk past a small pile of money to get to the large pile of money.” – Henry Ford

Some Ways You Can Niche Down

Chris explains the importance of mastering just one skill at a time. Having the skill set to become an expert in multiple fields just isn’t possible (for almost everyone).

In this section, Brian talks about how he developed his skills in his career that allowed him to niche down.

“If you try to speak to everyone, you end up speaking to no one.” – Brian Hood

What Is It That Makes You Unique?

This is a question that you must be able to answer if you want to have a long successful career doing whatever it is that you do. If you find yourself struggling to answer this, then how can you expect potential clients to?

Having a small percentage people who LOVE what you do, will be much more effective that having a lot of people who think what you do is just okay.

How To Make Ends Meet When Niching Down

In this section, Chris talks about his story and what exactly he did when he decided to niche down to only mastering.

Expanding your services seems like the right thing to do, when in fact it’s not. You’re only doing your company harm by diluting your brand.

Brian play devil’s advocate and explains why getting a part-time job may be potentially dangerous.

Where Does Your Niche Live?

The Venn diagram of your business is split up into 3 major areas; passion, money, and ability. In the middle of this diagram, where all the areas intersect, is where your niche lives.