I0m all in favor of researching a niche and using what you find out to intelligently select a client niche. However, if you sell time-intensive services or complex, high-priced products, research could cause you to overlook a perfectly viable niche. A key point that might come up in your research is what the average member of the niche can afford or would pay. Ignore that average! Here are the numbers to think about instead, and why.
First, how many clients would you have per year if you were as busy as you wanted to be? In some industries, this number is extremely low. A direct-mail writer told me that her schedule is completely full with just six clients per year, since she gets repeat business from each, and each project might take a month or six weeks to complete. If we look at professions where clients tend to have weekly appointments for 45 minutes to an hour, like music instruction or psychotherapy, there might be no more than 35-40 clients a year when factoring in attrition.
According to Donald Mitchell, author of The 2,000 Percent Squared Solution, the typical business-to-business company has only 30 clients. And according to Registered Rep, a magazine […]

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