52 minutes | Nov 4th 2019

Episode 037 – Riches in the Niches with Cameron Pechia

Riches in the Niches (with Cameron Pechia)

Niching down makes sense in almost ANY industry.  We’ve all heard the “The brain surgeon that makes more money than the family practitioner.” and “The RICHES are in the NICHES.”  But, why throw away the very thing that has helped you achieve the success you’ve had?    

Welcome to Episode 37

   

Niching down is scary!  It requires you to shift your mindset, to take a risk, to turn away business…or does it? Cameron Pechia (pronounced Pee Shee) has been a partner at All Lines Insurance for 10 years.  2 years ago they ADDED a trucking niche, Valley Trucking Insurance, to what they were already doing.

They are separating it so it’s truly a separate business.  Different staff, different phone lines, different website, different email addresses.  But, they didn’t start that way.  Just like everything, there’s a progression.

One of my favorite things about this episode is the fact that Cameron didn’t stop doing contractors and personal lines and life insurance, etc. in order to niche down in the trucking space.  They simply (I use that term lightly) created a DBA (Valley Trucking Insurance) and separated it from their other agency…brilliant.

This episode definitely got my wheels turning (pun intended).

Oh!  and one of the greatest things….I finally got my VTI hat!  I’ve been waiting for this thing for almost a year.  It actually showed up via Fed-Ex while we were recording the show….what do you think?

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My 2 biggest takeaways from this episode are:

  • You don’t have to stop being a generalist in order to create a niche.
  • If you’re niching down, you have to become passionate about that niche.  You have to go hang out where they hang out, you have to become one of them.

“Look at the top 100 insurance companies and for the most part those guys aren’t niche focused. They’ve got divisions and verticles, but they do more than one thing.” (Cameron Pechia – Valley Trucking Insurance)

Watch the show below or catch it on our podcast all the way at the top.

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