The speaker introduces the "barbell principle" for business strategy, particularly in the coaching and service industries. The principle suggests focusing on two distinct customer segments: those starting a coaching business and those who have an established coaching business and require a "done-for-you" service. The speaker warns against targeting the middle ground, which they term "no man's land." This middle ground is characterized by attempting to serve clients who are neither beginners nor highly established, such as a coach working with someone doing $10k a month, or a "done-with-you" service for a realtor doing $20k a month. The speaker explains that this middle segment lacks the advantages of a large Total Addressable Market (TAM) and the benefits of a well-defined "done-for-you" offer. As the market becomes more sophisticated, clients increasingly prefer services where tasks are completed for them and often demand guarantees.

Cole Gordon

I call it the barbell principle. If you want to go after people who start a coaching business, great. If you want to go after people who need a done-for-you service and already have a coaching business, great.

But, if you're trying to be like a coach that's done with you for somebody doing 10k a month, I call that no man's land. Or like, if you're trying to have work with a realtor doing 20k a month to do done with you, you're kind of on like this middle of no man's land to where you don't have the advantage of a super massive TAM, and you also don't have the advantage of a really good done-for-you offer.

Which, again, as people have gotten more sophisticated in the market, they move towards I just want stuff done for me. I also want guarantees.

Avoid selling to people in "no mans land"...

I call it the barbell principle. If you
want to go after people who start a
coaching business, great. If you want to
go after people who need a done-for-you
service and already have a coaching
business, great. But, if you're trying
to be like a coach that's done with you
for somebody doing 10k a month, I call
that no man's land. Or like, if you're
trying to have work with a realtor doing
20k a month to do done with you, you're
kind of on like this middle of no man's
land to where you don't have the
advantage of a super massive TAM, and
you also don't have the advantage of a
really good done-for-you offer. Which,
again, as people have gotten more
sophisticated in the market, they move
towards I just want stuff done for me. I
also want guarantees.

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Avoid selling to people in "no mans land"...

Transcription