Room Show Notes
Room Show Notes
🧐 Today’s Topic: To Niche or Not to Niche
- It’s not sustainable to niche
- Be mindful – be picky but not too picky…
- Diversifying is non-negotiable
- Niche downing = marketing (ie. My wedding clients do not know I offer to real estate clients)
- Diversifying = is an organization (it’s to being about being a chameleon) – Sprout Studio can help 😉
- AVOID burnout:
- CEO mode
- Hire a virtual assistant
- Building SOPs = Standard Operating Procedure
- Time is a non-replenishable resource! Understand your customer journey map, what checkpoints can you 1 Automate, 2. Streamlined, 3. Outsourced
- Outsourcing things nonrelated to photography – cleaning, house management, nanny…etc.
- When deciding to outsource – write out a list of all the things you do (inside and outside your business) – where can you be hands-off?
- Diversifying = (with other photography genres, filmmaking, painting) – is there a business model there? Is there an opportunity there? Is there a demand, and room for monetization? …Or is it just a hobby?
💰 Opportunity Cost
When we say YES to one thing, we say NO to another – and vise versa
Cutting the grass, weeding, etc. takes 5hrs.
I hire a landscaper.
I free up 5hrs a week to a new opportunity to grow my business.
Where the cost of this opportunity covers the outsourcing and you can bring more revenue into your business!
🔑 Key Takeaways
- CEO mode vs Worker Bee mode 🐝
- CEO = working ON your business (zoomed out)
- Worker Bee = working IN your business (zoomed in)
- As photography business owners – you NEED to spend most of your time in CEO mode
- It’s dangerous when comparison becomes replication
💬 Room Discussions & Questions
- Diversifying with different photography genres – Do I need to create a separate Instagram? Or a different website? Etc.?
- If the business model is similar – keep it under one umbrella! Otherwise, keep it separate!
- We’re given this PERCEPTION that feeds this comparison mindset. Most of the time, behind the scenes, it’s not as successful as it seems!
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