Elzie extracts a crucial business lesson from Jamar Jones - the art of niche specialization. Jamar candidly shares insights from his journey with Foureva Media, cautioning against the pitfalls of being a "Jack of All Trades."
Jamar emphasizes the need to resist distractions, especially the allure of "shiny things," and the company's struggle during a period of refocusing. The key takeaway: focus on what works and, most importantly, what you're great at.
Join Elzie and Jamar as they underscore the importance of niching down, carving your unique space, and, ultimately, maximizing your revenue. Don't miss this micro-episode for a swift dose of entrepreneurial wisdom!
Episode Highlight:
00:36 - You've got to niche down and create focus. So, one of the problems with Foureva Media is that we're doing a lot of stuff. And I just had a guy yesterday, he's like, "Dude. So, when I met you about nine months ago, we had a conversation. You told me about what you did, then I started following you." And so I met him. Then it's been nine months later, I met him yesterday and he's like, "I don't think you do the same thing. Did you pivot your business? Like, what happened?" And it's because we're doing so much. We got a podcast. I'm speaking. I have my book. We do events. We help organizations with branding and marketing strategies. We're doing video content. We're doing social. There's just a lot of areas that we're doing, and then we have a lot of nonprofit engagements and we're doing a lot of stuff. And so, I would say before you spread yourself too thin, focus on what works. Just really dive into it. And then once that really gets cranking where it's a system and you understand, you can actually do projections on the profitability and you can really say, "Okay, this is going to scale." That's another thing. Work on what's going to scale.
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