MRL #102- 5 Mistakes to Avoid When Picking Your Niche

Hopping from niche to niche can have consequences.

For experienced Producers it might just be burnout. But for new Producers it might just be a death sentence.

Because every time you change niches the clock starts over. It takes time to dig in, learn, and make progress in a new niche.

But new Producers don’t have time. They’re on the clock.

Produce. Or pack your bags.

It’s ruthless out there.

So the less niche hopping you can do, the better.

The key is getting it right early.

To guarantee you do, avoid these five common mistakes like the plague.

1. Chasing Niches with Tiny Accounts

You might think you can make up for small premiums with volume. That you’ll write a bunch of $1,000 revenue deals and they’ll add up.

But here’s the problem:

Your book of business is like a golf bag. You only have so many slots. Fill it with tiny accounts, and you’ll work twice as hard for half the revenue.

Imagine spending your days juggling dozens of low-value clients, all while stressing about hitting your targets.

That’s not a business. That’s a panic attack waiting to happen.

2. Choosing a Niche Without Enough Prospects

Prospecting isn’t optional.

If you’re doing it right, you’ll burn through names fast.

But what happens when your niche only has a handful of potential clients? You’ll run out of leads before you ever get started.

A sustainable niche should have at least 300-500 prospects.

Anything less, and you’re headed for a dead end.

3. Picking a Niche That’s Hard to Find and Target

If you can’t build a prospect list, you can’t prospect.

If you can’t easily find directories, or reliable data sources? That’s a prospecting nightmare.

You’ll spend more time looking for potential clients than actually talking to them.

And that’s a surefire way to kill any momentum.

4. Entering a Niche Where You Have No Competitive Advantage

Jumping into a niche without an advantage is like trying to run a marathon without training.

If you don’t have the neccessary markets, specific coverage knowledge, or prior experience with the industry, you’re already behind.

You’ll be competing against agents who live and breathe that industry—and you’ll lose.

5. Targeting Clients You Don’t Enjoy Working With

This one’s simple but overlooked:

If you wouldn’t want to grab a beer with these people, why build your business around them?

You’re going to spend hours talking and meeting with these people. If they’re not your brand, imagine how you’ll feel five years down the road.

Ok, Let’s Bring It All Together

I’m convinced most agents don’t fail because they’re lazy. They fail because they run out of time.

And niche hopping is one of the big reasons why.

So how do you actually pick the right niche from the jump?Flip these mistakes around and ask yourself:

• Are the accounts in this niche usually big enough?

• Are there enough accounts in this niche to chase?

• Can I find and target accounts in this niche easily?

• Do I have a competitive edge in this niche (or a mentor or agency that does)?

• Would I actually enjoy working with the average business owner in this niche?

Pretty cool, right?

Now to my pitch.

This 5 question framework is just one small part of what Micah teaches in our Producer Playbook.

If you haven’t check it out yet, here’s the link.

Hope this helps you find your niche and dominate it.

See you next Sunday.

Kick ass take names,

Maximus F. Revenue IV

(Micah & Trey)

P.S. Looking for a step-by-step system to build a book-o-biz from scratch? Check out Producer Playbook.

This is literally the process Micah used to build two $1,000,000+ books from scratch with cold outbound.

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