Narrow Your Business Focus to Boost Sales
A broad service portfolio does not guarantee high sales; quite the opposite, it often leads to lower growth and profitability.
While it may seem counterintuitive, focusing on a few exceptional services can significantly boost sales.
The reason is simple: Customers often gravitate towards experts in their field, valuing their specialized knowledge and skills over the broad offerings of generalists.
How to Become an Expert?
An expert has the theoretical knowledge to perform a specific task.
However, that's rarely sufficient.
Many people theoretically know how to do things, but experts also regularly apply their knowledge to customer-paying contracts.
The practical application of their knowledge sets them apart and makes them an expert.
For example, a surgeon who has just graduated from medical school is not yet considered an expert until that doctor has completed numerous successful operations. A photographer isn't a pro without doing photoshoots for paying clients, and an event manager isn't an expert without regularly organizing paid events.
Practicing transforms theoretical knowledge into expertise and makes you an expert.
How to Practice a Lot?
Repeating a specific task often enough will sharpen your skills and make you really good at it.
However, a broad range of services doesn't create as many opportunities to apply your knowledge as a narrower business focus.
If you want to gain expertise fast, focus on 5 services and do them 100 times instead of offering 100 services and doing them 5 times.
Concentrating on a few business lines will not only increase your expertise and help with word-of-mouth marketing but also improve your profitability.