Many investment professionals start their careers with a “gather all assets” mentality. While this may work for a period of time, it is not a recommended approach to achieve sustainable long-term growth, which requires focus and execution of a strategic business plan. In this highly commoditized environment, your survival depends on how you differentiate yourself and continually enhance the value you bring to your clients.

Create differentiation by becoming a sharpshooter.

A sharpshooter is a specialist—a professional athlete who, utilizing specialized equipment, aims at and hits a specific target. In order to achieve this goal, a sharpshooter must:

• Identify a particular target
• Choose the best tools to hit the target
• Prepare and take careful aim
• Implement proper execution to hit the target

You, too, can become a sharpshooter by identifying a specialization and developing your niche—a defined group of potential customers within your market (e.g., doctors, teachers, etc.).

Here’s how:

• Identify your target-What segment of the market will you pursue? What specific needs will you focus on? To answer these questions, think about those areas in which you have a particular expertise, experience, or a natural network.
• Choose your tools-Research and make sure you have a thorough understanding of the niche you will pursue—then identify the unique needs, challenges, and opportunities. Once you have this knowledge, become an expert in the products and services that will address these unique challenges and opportunities.
• Prepare and take aim-It all comes down to a well-honed marketing strategy. Marketing is 80% preparation and 20% execution. Because different niches respond better to different forms of marketing, take the time to map out how you will reach out to your area of focus. Craft a marketing message and value proposition that will resonate and engage your audience.
• Implement and execute-Get out there and win new business!

Invest the time in becoming a sharpshooter, and you will position yourself as an expert in your field and differentiate yourself from competitors. In time, you will become the “go-to” investment professional for your specific niche, thus taking your business to the next level.