by

by

Vincent Pugliese

The World Of Micro Niches

“My industry is too saturated…”

If you have uttered these words, you haven’t heard of or embraced the idea of a million micro niches. 

If your industry is too saturated, you haven’t niched down enough and in different directions. For many of you, those aren’t revolutionary words. We’ve been told over and over about the need to niche down. But we aren’t explained why often enough. 

Gone are the days of being a health expert, business expert or an expert in real estate. We are now in the world of a million micro niches, where instead of a broad term like real estate, people like Barry Karch are carving out their own unique niche in that world with his podcast titled The Real Estate UnSalesperson. Wait, what? An unsalesperson? What is that, you might ask. 

Karch has been a highly successful realtor and real estate investor for more than thirty years. Yet Karch is an introvert. Now I’m not sure about you, but when I think of a salesperson, I immediately conjure up an image of a flashy, fast talking salesperson who is trying to charm me out of my money. Yeah, I have issues. When I think of a salesperson- especially in the fast moving, cut through world of real estate, I don’t think of an introvert. 

Yet what Karch discovered was that introverts tend to make the best salespeople. Why? Because the extroverts love to talk and the introverts are better listeners. So they wind up listening to what their clients are looking for instead or talking and selling. And because they listen more, the introverted realtor earns more trust. They are slower to interrupt, they are more understanding of their clients feelings and that allows for a better customer experience. 

As Karch states, the introvert has the personality traits that lead to success. By being “unsalesy”, they actually do the best in the industry in sales. 

So Karch saw an opportunity. He also struggled with the notion of creating something in a saturated market. After decades of experience in the field, he wanted to start helping others do the same. And he wanted to do it through a podcast. But he kept pausing. And doubting. And overthinking. But when the idea of the unsalesperson came up, his eyes lit up. That was it. 

Not only was it more of a micro niche, instead of a saturated market, but it fit him perfectly. He didn’t need to pretend to be something he wasn’t. He didn’t need to try to create something in an industry that he didn’t understand or care about. He was the successful, introverted realtor and he could use his expertise, knowledge and passion to help other introverts create a successful career in real estate. With that, Karch created The Real Estate UnSalesperson Podcast. 

Now, instead of being one in a sea of same, he is the go to person when it comes to how introverts can succeed in the world of real estate. And it happened because he didn’t worry about an oversaturated market. He took that market, sliced of a small piece of it- one that fit him and he was well versed it- and created a micro niche from it. 

So if you think that your problem is that you are in a saturated market, I’d invite you to think again. And I’d invite you to create your own micro niche from your industry. There are millions of them, and new ones are being carved out daily. 

And with each micro niche carved out, new, smaller and more diverse industries are created. 

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How (And Why) We Should Accept Compliments

I’ve never been good at accepting compliments. Now don’t get me wrong. I want the compliments- sometimes way too often. I have craved the compliments but I was never good at accepting them. WIth that,  I was called out publicly a few years ago on a mastermind call that I was on with John Lee Dumas from Entrepreneurs on Fire. I don’t remember who it was, I think it was Roger Whitney, the host of the Retirement Answerman Podcast who gave me the compliment. Roger is my friend yet the compliment took me by surprise. Others in the group agreed with him and I responded with a very muted, okay, thanks, or the whole ‘it’s no big deal’ type of thing. And John called me out on it, which I so appreciated as painful as it was in the moment. And this is why I love masterminds. And why I love accountability. I don’t respond well when people complain about judgment or they say ‘who are you to question me on what I did’? You can have a great life- go do your thing-  but we’re not going to relate. I like challenges,. Especially when they come from people care about me. And if you can’t take constructive criticism from somebody who cares about you, you’re always going to be limited in your growth. So some people can call it criticism, but it was one of the best pieces of advice.  John basically said to me, don’t do that. You need to be able to handle compliments better than you do. And he explained that we are diminishing the other person’s gratefulness by doing that. And I’ve never really thought of it that way. Actually, I know I’ve never thought of it that way. I always thought that I was being humble. I didn’t want to brag. I didn’t want to pound my chest and say, yeah, I did do that. Nobody loves somebody that does that. But there’s a big difference between being quiet, defensive, and evasive than there is from the bragger. It’s actually two ends of the spectrum and neither of them are good. So I’ve met John many times. I’ve seen him at conferences. He gets swarmed by people, often people that want to tell them how much he’s helped them with this podcast. And he mentioned to me how he handles compliments. He handles it with a lot of gratitude and appreciation and he makes sure that there’s the big smile that goes with it. As well as a giant, thank you. And the appreciation for this person to go out of their way to give him a compliment. You have to understand the true thankfulness does not give off an appearance of vanity or excessive pride. What you are doing is you are appreciating that person’s compliments and giving them recognition. Now I’m going to guess that if you’re listening, you probably don’t go overly crazy on self praise. It’s just a guess. I’m also going to guess that you might go way on the other end and you might deflect or even feel uncomfortable but what’s even worse is if you reject it. But when you reject the compliment, you are not only  downplaying yourself, but you’re downplaying them as well. And without meaning it you’re downplaying their intelligence because if they truly believe in what you did and they’ve truly given you a great compliment, and you tell them that it wasn’t any good or it really wasn’t worth it, Basically what you’re telling them is that their opinion is an accurate. It’s an insult to the person giving you the compliment. So when you reject or deflect a compliment, what you’re really doing is you’re projecting the idea that you have low self esteem. I’m sure you’ve had it where you’ve given a compliment and it’s been blown off. It’s happened to me. And I don’t know about you, but I feel that way. I feel like I gave a compliment, I believed in them and they didn’t believe in themselves. And it made me feel like maybe I was wrong in thinking that way. Somebody else we might want to avoid when you’re in that spot is to get into a compliment comparison. Have you ever done it? When somebody gives you a compliment and you have to give them a compliment right back. Someone says, ‘Your hair looks great! And you immediately respond with ‘Oh, your hair looks great too!’. And they’re like, I’m wearing a hat. And you might think, why couldn’t I just accept their compliment? Instead, I needed to give it right back. And now it seems phony because what will happen is you’ll come across insincere. So to begin with you’re deflecting, you’re getting it away from yourself, which goes back to what we talked about earlier. But you have to think about this- were you really going to compliment that person on what you did compliment them on? Would you have just walked up to that person and said, ‘Your hair looks great today’ when they’re wearing a hat? No, of course you wouldn’t. It’s got to be sincere. It’s got to be meaningful. And it’s got. to be honest. So stop doing that.

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