Specialist vs jack of all trades

[LaneMan]

I've been consuming some content created by Jonathan Stark and he's got a really interesting idea about position yourself more easily by narrowing down to a single niche that consists of profitable companies and becoming a specialist that aims at solving problems companies in this niche are experiencing.

I really like this idea because you'll become pretty much the go-to person in this niche after a while but at the same time, it's very scary because it might not work out and you might not get enough clients to keep your stomach full.

For example, currently, I build websites for pretty much anyone but if I had to apply this, I would choose to target companies selling expensive home stuff like tiles and furniture. I'd help them increase their sales by building them an online store.

Currently, when someone asks me to build a website and then asks if I do facebook ads, google ads, seo, email marketing, and so on, I'd say yes to everything even though I have very basic knowledge about the extra stuff. Maybe that's why I end up landing very low value projects and bad clients.

I know @Andy Black is a specialist at Google ads and he seems to be doing pretty well, so, this might be a very good idea.

What do you guys think?

 

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[Andy Black]

I've been consuming some content created by Jonathan Stark and he's got a really interesting idea about position yourself more easily by narrowing down to a single niche that consists of profitable companies and becoming a specialist that aims at solving problems companies in this niche are experiencing.

I really like this idea because you'll become pretty much the go-to person in this niche after a while but at the same time, it's very scary because it might not work out and you might not get enough clients to keep your stomach full.

For example, currently, I build websites for pretty much anyone but if I had to apply this, I would choose to target companies selling expensive home stuff like tiles and furniture. I'd help them increase their sales by building them an online store.

Currently, when someone asks me to build a website and then asks if I do facebook ads, google ads, seo, email marketing, and so on, I'd say yes to everything even though I have very basic knowledge about the extra stuff. Maybe that's why I end up landing very low value projects and bad clients.

I know @Andy Black is a specialist at Google ads and he seems to be doing pretty well, so, this might be a very good idea.

What do you guys think?

Specialising in a skill is good. It’s very easy for people to refer you on if you’re “The XYZ Guy/Gal”. Note that I’ll often get hired for XYZ skill but the client then wants us to take on more of their web stuff. I typically decline and refer people on.

Maybe the grass is greener, but I do feel if I was specialised in an industry then it would be better than in a skill. If I specialised in generating leads for blacksmiths then I’d not just focus on Google Ads, but would do whatever helps.

I’d say specialising in either a skill/service or an industry is a good route.

 

[Paul David]

Specialist all day long.

In addition to what's already been said it's far more easier to scale.

It may seem like you're pushing away business at first but in the long run you'll be a lot better off.

 

[LaneMan]

Specialising in a skill is good. It’s very easy for people to refer you on if you’re “The XYZ Guy/Gal”. Note that I’ll often get hired for XYZ skill but the client then wants us to take on more of their web stuff. I typically decline and refer people on.

Maybe the grass is greener, but I do feel if I was specialised in an industry then it would be better than in a skill. If I specialised in generating leads for blacksmiths then I’d not just focus on Google Ads, but would do whatever helps.

I’d say specialising in either the skill/service or the industry is a good route.

Yea the picking the industry is the real deal and you won't need a lot of clients and slave all year if the industry has a lot of money.

If i specialize in speeding up spaceship thrusters, I might need only 1 client because i'll probably get paid $1m per year.

 

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[Andy Black]

I might need only 1 client

I’d rather have 10 clients. If one client drops then it’s not your whole revenue gone.

Also, you get more flow through your systems and can polish it better if you have more prospects and customers.

 

[LaneMan]

I’d rather have 10 clients. If one client drops then it’s not your whole revenue gone.

Also, you get more flow through your systems and can polish it better if you have more prospects and customers.

For sure but what i meant was u wouldnt need more than 1 and you can take more clients at your own discretion instead of having to do it in order to keep the lights on.

 

[ReeZ]

Sure in your case specializing may work out great.

Just be aware, that with time you are also gonna have to branch out from that niche. This may be in 3 years, 5 years, or 10 years. But there will be a time that comes when you are gonna have to re-invent yourself and your business to keep up with all the developments in any market that you choose. It should go without saying that your positioning statement, your USP/UVP may also have to get revised at that time as well.

This "branching out" may be by going further down in specialization, going deeper, going to a new category created in that niche, or by becoming more generalized.
There's no right answer, it comes to preference and situation, just keep this in mind.

 

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[Kak]

I am of the opinion that a strong entrepreneur is likely more of that jack of all trades, at least in the beginning. It helps with later having a specialization in leadership to steer the ship.

Understanding all of the working parts of your business is extremely helpful. One of the biggest problems I see with this, in my opinion, preferred way to be... Is that delegation eventually becomes difficult. It is easy to say things like "I can just do this and it will save me money." That is the only real pitfall I see.

I believe in being that jack of all trades in the beginning, but don't be afraid to relinquish some of that managerial control and take your rightful place at the top of the organization where you lead it forward as the CEO.

 

[ReeZ]

I am of the opinion that a strong entrepreneur is likely more of that jack of all trades, at least in the beginning. It helps with later having a specialization in leadership to steer the ship.

Understanding all of the working parts of your business is extremely helpful. One of the biggest problems I see with this, in my opinion, preferred way to be... Is that delegation eventually becomes difficult. It is easy to say things like "I can just do this and it will save me money." That is the only real pitfall I see.

I believe in being that jack of all trades in the beginning, but don't be afraid to relinquish some of that managerial control and take your rightful place at the top of the organization where you lead it forward as the CEO.

While I am in agreement with you Kak - Especially in the early stages not only the CEO but a lot of the employees as well, are going to have to be a jack of all trades until the business is big enough that it can handle specialization.

But in the marketing, USP, selling to the customer/client - The business should be presented as an expert in whatever niche they've decided on. Whether that is platform-based (Google, Facebook, Own website) skill-based (PPC, Copywriting, SEO). Now platform/skill-based is of course, not the only means of niching down.
If a business can do more it can begin to segway into that (and probably should, if interested in making more money). But now then comes the importance of segmenting various parts of the market, bundling, offering more services (without making too many) so that you best can serve your clients.

In the case of LaneMan's question - I think the best advice indeed is to niche down while keeping in mind that change is constant, so he should perhaps in future indeed generalize again.

As the CEO again, I am in complete agreement with you that one has to, in degrees be the Jack of All Trades.

 

[Andy Black]

@LaneMan

MJ create a thread recently about the steps to go from broke to wealthy. That particular path did involve acquiring a specialist skill.

• GOLD! - From Flat-Broke to Financial Freedom: How to Get Started When You Have No Money

 

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[Martin Boeddeker]

I've been consuming some content created by Jonathan Stark and he's got a really interesting idea about position yourself more easily by narrowing down to a single niche that consists of profitable companies and becoming a specialist that aims at solving problems companies in this niche are experiencing.

I really like this idea because you'll become pretty much the go-to person in this niche after a while but at the same time, it's very scary because it might not work out and you might not get enough clients to keep your stomach full.

For example, currently, I build websites for pretty much anyone but if I had to apply this, I would choose to target companies selling expensive home stuff like tiles and furniture. I'd help them increase their sales by building them an online store.

Currently, when someone asks me to build a website and then asks if I do facebook ads, google ads, seo, email marketing, and so on, I'd say yes to everything even though I have very basic knowledge about the extra stuff. Maybe that's why I end up landing very low value projects and bad clients.

I know @Andy Black is a specialist at Google ads and he seems to be doing pretty well, so, this might be a very good idea.

What do you guys think?

It depends on your situation.

I think it's most important to become #1 in one category.

The are different ways to achieve that:

The #1 marketing guy in location XYZ
The #1 webdesigner for industry XYZ
etc...

If you have experience with webdesign and focus on that I would try to create a network.

Maybe you can set up affiliate deals with others. (e.g. if you refer a job for running ads forsomeone you build a website for, the PPC guy should pay you a bounty of $500)

Of if someone refers you you pay them a bounty as well.

I would recommend to read Jay Abrahams's book Getting Everything You Can Out of All You've Got: Abraham, Jay: 9780312284541: Amazon.com: Books to get more ideas.

 

[100ToOne]

I believe it all depends on where you are financially and where you'll be in the future.

If you or your family are financially stable, being jack of all trades helps big time in moving the wheels on your upcoming idea. You can design, create, market and do a lot of things yourself.

But I guess if you're not financially stable, not having a specialised skill to earn from will leave you broke for some time, since you basically know enough to get the business going, but not enough to "complete the task" if you know what I mean.

I could be wrong but that has been my experience. I'd definitely watch MJ's video linked in Andy's post. I don't think you can go wrong from there.