There is a marketplace for your services.
When you first started your business, your target market probably had very few limits. You might have introduced yourself like this:
I’m a designer.
I’m an HR consultant.
I’m an SEO expert.
Translation: I’ll serve pretty much anyone who has a budget.
With time and experience, you gradually niche yourself into those pockets of the market that intrigue you. That have enough potential clients with big enough problems to happily pay you to solve them.
Once you’ve got some consistent traction, you start to breathe because you know you’re building a sustainable business model.
But when you plateau (usually around the $100K- $200K range), you start to ask yourself how to break through it.
Maybe you want to make more money without working more hours. Or reduce your hours without a pay cut. Or just work more consistently in your genius zone while increasing your revenue and/or your impact.
The trick to jumping a level with your business is to figure out what your market—the people you’ve been serving or would like to serve—want from you.
And I do mean YOU. It’s not just what they are already buying from others but how they see your unique value in solving their challenges.
Just because they buy X from Expert A doesn’t mean that’s what they will buy from you. Or that they will pay you the same $50,000 that A is charging. (They might pay you more—much more.)
Because you have a unique set of experiences, talents (think genius zone) and passions that make you attractive to a specific market. And it might look very different than say Expert A.
But it can be tough to recognize your value by looking in the mirror. Which is why you’ll benefit from a little—curated—outside input. Here are a few options to explore:
Identify a small group of existing clients who are clearly in your sweet spot and interview them to see how you can provide more value (dig into ALL their challenges).
Go on a listening tour with a set of questions for non-clients, so you can understand how they think and how they buy (or don’t). Ask about price points!
Test out a new point of view or a new target client by writing or speaking (to your email list/podcast, your best social platform or for an outside publication). What does the response tell you about how they see you/your ideas?
Try a (very) small experiment—perhaps offer a new email sequence on your website that explores an idea you’re toying with.
I wouldn’t go with “if you build it they will come” here—your goal is to see what your best people want from you first.
Align that with your genius zone and you’ve got the tools to build a happy, high-profit and high-impact business for yourself.
Related: How To Know When Your Sale Is Done