Episode 62: Answering the Critical Consulting Question: To Niche or Not to Niche—with Andrea Bailey-Brown
In this Craft of Consulting podcast episode, I interview Andrea Bailey-Brown on a decision that all consultants have to make at least once in their careers: do you focus on serving a particular niche or do you keep a broad focus when your build consulting business?
Andrea, also known as the Profit Creator, has been buying, building, scaling, and selling businesses since 1989. She has broad expertise related to business and a lot she could offer clients. In this episode, she shares how she considered the multiple options she had for her consulting business and why she ultimately decided to focus on a specific consulting niche: profitable franchise ownership. She also shares her sage advice for the right and wrong way to build a profitable consulting business.
Andrea Bailey-Brown knows the ins and outs of how to build and scale businesses. When she became a consultant, she knew she had to choose what she was going to build her consulting business around and what she was going to offer to which clients. In this podcast, we talk about:
Becoming a consultant and getting her first client
Understanding the advantages and disadvantages of niche-based or broad-based consulting businesses
Knowing what you know and don’t know and getting help when you need it
Avoiding the trap of doing something because you know how or are good at something
Planning for intentional profit
Experimenting and knowing you picked the right niche
Doing the internal and external work to know that you are doing what you should be doing
Letting breakthroughs happen
Knowing how to put your product out in your markets and learning the art of selling
Figuring out the right first steps when you decide to become a consultant
More about Andrea: