Is Rally MG a Fit for You?
Hi, I'm Casey Winans and I founded Rally Management Group.
Prepare yourself. I'm going narrow. Very narrow.
When starting a business, picking your niche is super important - unless you want to flounder and be one of the thousands of mediocre companies out there all saying and doing the same thing and wondering why customers don't listen. Timeout, I just threw up in my mouth.
Yuck! Where was I? Right - my niche.
So, what's my niche? I'll tell you. I work with service-based businesses that want to have an outsized impact on the people they interact with on a daily basis. Profound; right?!
Let me backup a bit and break this down into bite-sized chunks that are easier to chew.
Defining Service-Based Business
When I say service-based businesses I am referring to consulting firms (e.g. management consultants, software development firms, system integrators, etc.), professional firms (e.g. attorneys and accountants) or creative agencies.
In other words, businesses that leverage knowledge to produce results that create value for their customers. Not their hands - their minds. Knowledge. Know-how. Brain power. Typically, human to human interaction is critical to the process.
Impacting People for Posterity
These people I speak of are customers, employees and their families, and the millions of people that make up the thousands of other service-based businesses that don't yet work with my firm, Rally MG. I want to directly and indirectly make their lives better too.
How do I envision making an impact? I want to kick conventional “wisdom” and the status quo to the curb while exploring business concepts that few leverage or believe will work. I'm a fan of the counter-intuitive and unorthodox. Don’t worry - I’m an avid reader so most of these concepts are well vetted yet not widely recognized yet.
And, I encourage my clients to take exceptionally good care of their people too. They are their best assets and attrition is super painful. Unfortunately, way too many businesses get this terribly wrong.
Getting Down to My Niche
Oh, you thought I already did?! Nope; I'm just getting started. Check out this specific criteria:
I only want to work with business owners that are striving to build multi-million-dollar businesses. According to Verne Harnish in his book "Scaling Up", only 4% of businesses ever surpass $1 million in annual revenue.
Not because I value chasing revenue - which is quite the opposite - but because it typically provides credibility that smaller businesses can rarely command. Remember, I want to make an impact.
And, if you thought I was done, you're in for a surprise.
Of that tiny percentage, I only want to work with first-time owners of service-based businesses. The US Census Bureau says they make up 64% of all new business so - check my math - that reduces my market to 2.6% of all service-based businesses.
When you consider 30% of them are likely to go belly up within their first two years, I'm betting I can significantly reduce that outcome - if they work with my firm, Rally MG.
There you have it. My sweet spot. Approximately, 1.6% of Service-Based Businesses.
What About the Naysayers and the Propaganda?
I know. I know. Business schools and all the start-up folks wax poetic about multi-billion-dollar markets, but they are not talking about service-based businesses. They are pushing dogma that has been debunked yet ignored or focused on business models that rely on a "network effect" to succeed. We're focused on providing services - performed or managed by humans. Completely different stuff here.
However, this isn't all for nothing. With over 600k businesses started each year, even my tiny percentage represents a potential set of clients way larger than I can help today so I'm quite satisfied for the time being.
Let's recap with a list, shall we?
I only work with:
first-time owners that want to have an outsized impact within their chunk of the world
service-based businesses (e.g. consulting firms, software development firms, system integrators, professional firms, or creative agencies)
business-to-business (B2B) companies where the focus is on long-term value and real relationship as opposed to a high volume transactional business
Oh, and since rapport is core to service-based businesses given it's all about relationships, the owner and I have to like and trust one another. Super important. No exceptions to this one.