There is considerable value in some CEOs being expert generalists. However when selling the services of your business messages need to be clearer and targeted.
If you’re at your local GP and talking about your serious back injury, you’re hoping that your going to get a referral to a medical practitioner who specialises in treating back problems. The same thought process is going on when customers are looking for your services. Your prospective customers are looking for someone who can solve their specific problems. The danger with being a generalist is that while it might give you a bigger market to aim your service at, it also brings with it much greater competition. Rather than being a generalist, become a specialist in one sector of the market and then when you’ve built up a client base there, consider adding another sector.
Consider also that this approach can save you considerable time and money. We have also written an article on the value of focusing on a niche.
Takeaway: Market yourself as a specialist, dominate then grow.