THERE ARE RICHES IN NICHES... PICK YOUR NICHE. ASK A LOT OF QUESTIONS, BECOME AN EXPERT WITHIN THAT NICHE AND DO NOT BE AFRAID TO CHARGE ACCORDINGLY FOR YOUR EXPERTISE.
What will your niche be?
“Trucking is the backbone of the American economy.” However, in the last 30 years, massive trucking companies have been created and many dominate certain markets within the industry. Despite this fact, there are riches in niches, so think about what your niche will be.
The key to winning business in a niche market, requires you to be an expert in that niche. Niches may require additional licenses, background checks, oversized/overweight permits, etc. Customers will pay for expertise, but they can see a phony coming from a mile away. As an expert, you can charge more and will be paid more, you just have to take the time to really become an expert.
Ask a lot of questions, such as:
1. Does this niche fill a need in the marketplace?
2. Who are the main players in this niche?
3. Can I run my business better than the current players?
4. Is this niche a flash in the pan or a long term niche?
5. How do my customers make their money?
6. Can I solve a problem that exists in the marketplace?
Matt Manero combines his business brilliance with more than 20 years of hands-on experience in transportation equipment finance. Today, he is a CEO leading four companies that generate over $100,000,000 per year in business with a base of more than 10,000 clients.
Matt launched his first business, Commercial Fleet Financing, Inc., in 1995 with a phone, a folding table and the unyielding confidence of a single client, a trucker. Fast forward 20 years: Commercial Fleet Financing, Inc. made Inc. magazine’s Top 500/5000 list of fastest growing companies in America in 2014. Matt is the creator and personality behind CFFnation.com, the first and only online video network featuring original programming for and by innovators, operators, movers and shakers of the transportation industry.
His companies have been recognized in trade publications such as Overdrive, Transport Topics, Commercial Carrier Journal, and Dealer Solutions Magazine. Matt hosts his own weekly Radio Show aptly named, “The Grit” which airs on lifestyletalkradio.com and also on CFFnation.com. In addition to “The Grit,” Matt has authored a series of quick read books entitled “Tower, Mover and Construction Co. Need to Know NOW”, and also a forthcoming book, “I NEED MORE MONEY,” which reflects his battle to build his business and guides readers in creating their own future and financial success.