It’s easier to serve 50 clients in the same industry, implementing the same package– than 50 random clients in 50 different industries.
Narrowing down to one industry can feel “limiting”–after all, if we offer everything to everyone, we can be bigger, right?
Being involved in many agencies, I can tell you the reality is that doing one thing well is what scales.
Don’t diversify until you have $20 million annual recurring revenue in ONE industry.
Besides the operational efficiencies of being able to do one thing really well for one type of client (SEO for law firms, for example), you also create the perception of excellence in that category.
After all, would you trust a doctor who says they can do 1,000 different types of surgeries or a doctor who has done 1,000 appendectomies?
You can always change your niche later.