Unlock More Sales in Your Market

Here’s something I didn’t understand 5 years ago:

Niching is a double edged sword…

On one hand you can go into a niche, do really well and make a name for yourself.

Business then grows, revenue increases and you’re on cloud nine.

On the other hand — you might run out of people to serve.

The more niche you are, the greater the risk of that happening.

You’ll find yourself unable to convert more new customers on the front-end and then scramble to entice your customers to come back on the back-end.

Aka… Retention Revenue.

This situation is a result of not having a big enough Total Addressable Market (TAM).

Your TAM represents the total revenue opportunity available to a product or service if 100% market share is achieved.

In simpler terms: how big of a market do you have (how many people can you potentially sell to) and how much revenue can you generate if you sold to 100% of those people.

This helps you understand just how much potential you have within your niche.