1. Understand why you
should specialize:
Everyone wants
a specialist. If you need brain surgery will you seek a generalist
or a specialist? It’s the same in business. Specialists make more
money, become better known and receive repeat business more often
than generalists. It also makes planning, branding and marketing
much easier.
2. Start with your
passion:
What are the fields or
industries that you are drawn to? Is there a sliver of gold within
your current industry that you feel particularly drawn to? What will
get you excited about reading an industry rag on a Saturday? What
industry will you follow in the business pages daily? If you have a
passion for it you will do much more to be successful so start your
thinking here.
3. Intend to become the "Guru":
You can choose a niche
based on Industry or the specific position title but it must be
fairly narrow in order for you to become the guru. For instance "IT"
is a broad category, "Software developers" is narrower and "Java
Developers" is very narrow. You could become the expert in
recruiting “Senior Managers for Amusement Parks” or “Executive
Directors or Non Profit Companies”. If you’re in an industry niche
now but not very well known, make a commitment to raise your firm’s
brand awareness by becoming a Guru. Your marketing efforts then take
on a new level of enthusiasm because you are talking to people in an
area that you feel competent and interested in.
4. Look to the past:
Another important thing to
consider is your past experience. You will have more credibility and
an easier time learning the ropes if you have some prior link to
your chosen field.
5. Swim downstream:
No one can accurately predict
exactly what will be a robust niche 10 years from now but you do
want to find a field that has positive growth projections. Sales and
marketing are areas of every company that tend to be more recession
proof than others are. Try to pick a niche that combines good growth
projections with an area of interest for you. Beware of “hot” fields
that everyone else is running toward.
6. Begin your research:
Once you have a couple of
areas picked out, locate as many of the industry publications within
the field as you can find. Immerse yourself in the trade journals so
that you can quickly get to know who the players are, what the
trends are etc. Also, compile a list of all of the companies in this
field by using guides such as Dunn & Bradstreet or the Thomas
register. Gather info on specific companies and look to see who’s
hiring and who’s stagnant.
7. Find the
appropriate associations:
Associations are an excellent source
of information about a niche. If an association does not exist for
the field you are researching then you probably don’t have a viable
niche. You must be able to find a place where your prospects will
gather and hang out. Contact the associations and ask for their
advice and perspective.
8. Consider fee size:
If you are choosing a niche
you might as well pick one that will pay juicy fees. Some niches
have odd histories of only paying a flat $10,000 fee or low
percentages. Be sure to research this before you get too far.
9. Conduct a survey:
Once you’ve selected a possible
niche, it’s time to make some calls to people who can give you the
inside scoop. Call senior people within these companies and conduct
a survey with them and ask about growth projections, areas or most
critical need, relationships with recruiters etc. Generally
speaking, the problem with specialization for most consultants is
not that they are too narrow but rather that they are not narrow
enough. Go deep into your chosen niche so that you can gain the
benefits of name recognition, momentum and credibility. Feel free to
contact me if you have questions about this process. than ego or
emotions prevail.
© Copyright 2010, BlackDog Recruiting Software Inc.
