"Which Niche Can We Serve at a Premium?" — Transcript

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1. 0:00Here's my question. So, I was wondering
2. 0:01how can I use ATQA to help our company
3. 0:04focus our services more into a niche
4. 0:06offering as opposed to what we already
5. 0:08do. So, I'm wondering about like
6. 0:09research capabilities. So, for context,
7. 0:12I own a VA company. We do high-quality
8. 0:15virtual assistants for US and Canadian
9. 0:17companies.
10. 0:18And I was having breakfast with Will
11. 0:20from Virtual Rockstar, as you know, and
12. 0:23he was encouraging me to do nishing, but
13. 0:26I he he has subject matter expertise. I
14. 0:28don't feel like I have subject matter
15. 0:29expertise in a in a particular industry
16. 0:32for us to focus. I was wondering if ATQA
17. 0:34could help us on like figuring out what
18. 0:36the best niche to go for is and then
19. 0:38doing all the assets around how to
20. 0:40communicate and attract those customers.
21. 0:43>> Well, the short answer is yes. The
22. 0:46medium answer is right now you probably
23. 0:48have How many How many customers do you
24. 0:50have right now?
25. 0:52>> We have about 30 across different
26. 0:54industries.
27. 0:54>> Yeah, is there one particular industry
28. 0:56that you feel like you do better with
29. 0:58or that like they like you more or do
30. 1:00you feel like you provide more value?
31. 1:02>> Honestly, like hard to say. Home
32. 1:04services, property management, and
33. 1:06clinics
34. 1:07I tend to be our favorite. Honestly,
35. 1:09like for us is more of a little bit
36. 1:11about like
37. 1:12how easy the decision-making process is.
38. 1:15When we work with like clinics, they
39. 1:17tend to be more affluent buyers, so
40. 1:18they're like, "Oh, yeah, we need three
41. 1:20virtual assistants." And
42. 1:22easier to make decisions, but there
43. 1:24isn't one that we have like over 30% of
44. 1:26our customer base from. Does that make
45. 1:28sense?
46. 1:28>> Yeah, that's okay. You don't need to
47. 1:29have customer concentration is more that
48. 1:31like you've you've sampled a lot of
49. 1:32different customers and industries and
50. 1:35some of them you can probably like scale
51. 1:36up faster and they have higher value to
52. 1:38those people than in other industries.
53. 1:41And so, the idea like whenever we're
54. 1:42picking, you know, niche to focus on, we
55. 1:45just want to focus on the the avatar
56. 1:47that we can provide the absolute most
57. 1:48value to for the lowest possible price
58. 1:51to us.
59. 1:52And so, that's where the arbitrage
60. 1:53really occurs. And so, so like let's say
61. 1:56that there's three different, you know,
62. 1:57let's say we narrow it down from 30 to
63. 1:59three, right? And one of these it's like
64. 2:01we have 10x value uh that we provide,
65. 2:03but it costs us 5x in training. There's
66. 2:06another one we provide like 8x value and
67. 2:08it costs us like an extra 1.5 in
68. 2:09training. And then another one that's
69. 2:11just like we get 2x value, we don't
70. 2:12train anything else. Well, it's like I
71. 2:14would probably go with, you know, the
72. 2:15middle door, the the Goldilocks of like
73. 2:17I'd rather train, you know, one and a
74. 2:19half times more and then get eight times
75. 2:20the, you know, the value that's being
76. 2:22provided. And then that becomes the
77. 2:23niche that we focus on. And then the
78. 2:25messaging, the lead magnets, the, you
79. 2:27know, all the niche down, etc.
80. 2:29Um works there. So like I've seen some
81. 2:31VAs that are just focused They're
82. 2:32marketing VAs. I've seen media buying
83. 2:34VAs. I've seen customer service VAs.
84. 2:37I've seen uh healthcare specific VAs.
85. 2:40I've seen SDR VAs. Like there's a
86. 2:41million different VA, you know, agencies
87. 2:43that specialize in these things. And it
88. 2:44just typically is easier to
89. 2:47basically it's easier to have higher
90. 2:49quality output of VAs because the stand
91. 2:51the training can be standardized. Um and
92. 2:54you can provide a higher level of
93. 2:55training out the gate, which then allows
94. 2:56you to charge a premium for the work, uh
95. 2:59which ultimately
96. 3:00uh gives you better margins. And given
97. 3:02the size of the industry that you're
98. 3:03going after, you could in any of those
99. 3:06businesses you could get to 100 million
100. 3:07a year.
101. 3:09>> Right. So are you saying like for
102. 3:10example niching not industry specific,
103. 3:13but VA type specific uh or both?
104. 3:16>> I mean, I would start with right now
105. 3:18just like VA type specific and then
106. 3:19you'll quickly find that within that
107. 3:21there'll be an industry that you can
108. 3:22probably crush and then like I'd
109. 3:23probably focus there.
110. 3:25>> Understood. But does the ACQAI
111. 3:29help with like the financial side of it?
112. 3:32>> Like for for example like hey, like
113. 3:34which ones have like a multiple location
114. 3:36potential as opposed like multiple VA
115. 3:38hires at once?
116. 3:39>> going to be a prompt. Yeah, so I would
117. 3:41probably this would be a a a prompt
118. 3:43chain. So the first prompt I would have
119. 3:45would be a prompt to give me a prompt.
120. 3:47So I'd say, "Hey, I'm thinking through
121. 3:49this strategic decision of what niches I
122. 3:50should go into.
123. 3:51What
124. 3:53um
125. 3:53what questions would you ask me that
126. 3:55would help you uh give you know get
127. 3:57better insights. So they're now output
128. 3:58questions. So then I answer all these
129. 3:59questions. I take that and I reload
130. 4:01upload it and say, "Hey, with this added
131. 4:03context um what prompt would you give me
132. 4:06uh to give you to uh think through um
133. 4:11and wait the top five niches that you
134. 4:13think have the highest likelihood uh of
135. 4:15me getting outside returns for the
136. 4:17effort I put in. And then boom, you put
137. 4:19that in and then they'll say, "This is
138. 4:20the prompt I used." And they say,
139. 4:21"Great. Send." And then and then you're
140. 4:23off.
141. 4:25>> Understood.
142. 4:26>> So this is what I'm saying with the
143. 4:27iterations of like the further deep you
144. 4:29go, the better the output will be.
145. 4:32>> Yeah. Like that chaining of the of the
146. 4:34prompts once they were able to get
147. 4:35clarity on that part. Yeah. And so so
148. 4:37the follow-up there is so one of the
149. 4:39things that we determined is with the
150. 4:41channel to go after paid ads and like
151. 4:44it's a very saturated market for the
152. 4:46virtual space.
153. 4:47>> One of the things that we decided to do
154. 4:48was uh for example we'll go through
155. 4:50affiliate or channel partners like
156. 4:51consultants, B2B coaches, marketing
157. 4:53agencies.
158. 4:54>> So whenever it is that we're using the
159. 4:56tool to prompt like these ads and
160. 4:58assets, should we be making content for
161. 5:01the channel partner or for the end
162. 5:03consumer for the channel partner to use
163. 5:06and leverage? Does that make sense?
164. 5:07>> Yes, it does make sense. So if the
165. 5:08primary way that you're getting
166. 5:09customers is through affiliates, then
167. 5:10your marketing is for affiliates.
168. 5:14The affiliates are your customers.
169. 5:16So Alan, for example, the white label
170. 5:18software we had that sold for agencies
171. 5:20and then technically their customers,
172. 5:21you know, were on it. The advertising
173. 5:23was only for agency owners. It was not
174. 5:25for
175. 5:26uh SMBs who ultimately used the product.
176. 5:30>> Understood. Yeah, so that's more of like
177. 5:31how I would include the prompts for the
178. 5:33ACQ to help me develop those.
179. 5:35>> your actual customers.
180. 5:36>> Thanks, Alex.
181. 5:36>> Yeah, you bet, man. Thank you, JP.
182. 5:38>> If you're not getting as many leads as
183. 5:39you want in your business is demand
184. 5:41constrained, [music] meaning you could
185. 5:42service more customers than you
186. 5:44currently have, then this is for you. So
187. 5:46marketing is changing and I [music]
188. 5:47think ACQ tends to be on the bleeding
189. 5:49edge of this stuff. We certainly spend
190. 5:50the money
191. 5:51to do it, but we also build custom
192. 5:53software and we pay amazing vendors and
193. 5:55very expensive people to figure out the
194. 5:56system that we have right now and I want
195. 5:57to share it with you kind of open kimono
196. 5:59style. If you're not getting as many
197. 6:00leads as you want,
198. 6:01boy do I have the thing [music] for you.
199. 6:02Click below, book call and
200. 6:05hopefully I'll see you in Vegas.