Specializing to Maximize your Income
In my real estate business, I predominantly work with investors as I specialize in valuating investment potential of real property. Sure, I can sell a house to a friend or neighbor, and I am very proficient at negotiating contracts on behalf of buyers and sellers, but my primary specialty is in income producing properties. I deal with investors all over the country although my primary market is in the three coastal counties of Mississippi. Investors seek me out and request my guidance because I specialize and I KNOW my market inside and out.
A few years ago, I started doing a little work with residential owners who wanted to get loans to rehab properties as primary residences. There is a specific loan program called the FHA 203k loan. When I called one of the normal lenders I do business with, he recommended another lender who SPECIALIZED in the 203k program. I now do business with this lender all the time because she specialized in this particular program and no one is better at it in our market.
Now, if we put all the real estate references aside, what does this mean to you?
Many of us, especially in the Internet Marketing arena, tend to bonce around from project to project but never really get anywhere on any of them. One week you may be working on setting up a new article directory and the next week you are working on a “how to make money online” site – and the article directory never even got fully set up!
When you start a project, you have to finish it, and you have to become an expert at something in order to really succeed. Look at all your major players in the game – they make money off the same things, or the same “type” of thing over and over because they have become an expert in that field, or have specialized in that field and created a niche which they sell to over and over again. That “niche” is generally YOU. They make all their money selling you the same thing over and over. Sure, it may be the Latest and Greatest, but 9 times out of 10 it is the same rehashed garbage they sold 5 years ago and packaged a different name on it.
Am I telling you to go out and recreate the same things and start trying to sell it? Absolutely not. What I am saying is that you need to carve out a niche for yourself, stick to it, and become the expert on it. People will always seek out the best, the most knowledgeable, and typically will pay more for their information.
Create your Niche and Stick with it!