As you can see in the picture above (Bloomberg en Español, only) as a real estate and financial advisor I hipper specialized in the international, Hispanic, high net worth clientele from 3 countries: Venezuela, Colombia and Argentina. That is it. I had numerous opportunities to cross over to the american market as a financial and real estate expert on Bloomberg, CNBC and Fox but the space is already crowded with great experts and no accent. It doesn’t make sense for me to “dilute” my effort, I rather concentrate in the niche mentioned above.
QUOTE
“Without positioning, there is no direction, without direction we can’t achieve success”-Jack Welch, CEO of General Electric
“Apple doesn’t target markets. Apple targets people.”
“Hyper-specialization is the name of the game today-” Verne Harnish, founder of world-renowned Entrepreneurs’ Organization (EO) and chair executive program for the executive MBA program at MIT . He is also the author of Mastering the Rockefeller Habits, endorsed by more than 100 CEOs of mid-size companies. The book is published in Chinese, Japanese, Korean, Russian, Serbian, Polish, Dutch, German and Spanish.
LESSON/PRINCIPLE
Every great company precisely positions itself. Apple’s primary targets are teenagers, young adults and graphic designers.
Walt Disney Corporation targets families with children under 12 years old.
APPLICATION
In the real estate industry is no different. Look at any top producer and you can see how he or she dominates a specific market niche. Agents who haven’t reached their full potential fail to position themselves properly (if they position themselves at all). As a result, they end up doing their level best to serve a broad market that’s already saturated with top producers— knowledgeable, experienced agents working in a specific niche and making it very difficult for those who don’t specialize to succeed. If you want to grow in this business you must specialize and position yourself within a very specific group of people.
For example, to target high end international clients, you have to understand their unique needs and answer the specific questions they have about financing, taxes, and the laws that apply only to them. Unless you do, how can you make an impact by helping them recognize that you’re the only go-to expert they should be working with?
Make sure you know the needs, concerns, doubts and questions of your niche market. Don’t waste your time, talents and effort trying to be all things to all people’ it simply doesn’t work!
Hipper specialized in a small niche and become the expert of choice. When you become the expert, few agents will be able to compete with you and your client won’t feel comfortable dealing with anyone else. Getting to this place is your goal so true market domination should be your next target. When you get there, your clients will be looking for you; you won’t have to chase after them.
Remember: hyper-specialization is the name of the game. To learn more about the subject, watch this video.
Visit us (www.montielorganization.com) or e-mail me ([email protected]) to find programs about how to hyper-specialize, identify your niche, expand in your market area, and become the expert of choice for the clients you’re targeting.
REMEMBER THAT WISHFUL THINKING IS NOT A STRATEGY. TAKE ACTION TODAY!
Download the report “THE 7 STEPS TO BECOME A TOP PRODUCER”