Become over-specialized: read every book in your niche
In a Billionaire Insights talk, Richard shared a simple way to stand out. Read more than everyone else in your niche. Know more, and you become over-specialized. He says that is the goal for Billionaires.com and Family Office Club.
The short-term rental test
When his team moved into short-term rentals, they looked for every Airbnb book with four stars or more and over 10 reviews. Richard says there were only 14. They bought all of them, some on Audible and four in paperback, and set out to read every one.
Why it works
Richard says his team has hired large service providers in that space who did not know some basics. Reading everything gives you an edge over people who have worked in an industry for years.
No timeouts
Richard ties this to points from billionaires. Mark Cuban talks about business as a game with no timeouts. Sara Blakely asks why people take themselves so seriously. Richard reads that as permission to work hard and still have fun.
In Richard's words
"If you're in your niche and you read more than everyone else in your niche and you know more, then you become over -specialized." (Richard C. Wilson, Billionaire Insights talk)
"We're reading every single book that's of any quality written on the space" (Billionaire Insights talk)
How to use this
- List every well-reviewed book in your niche. Set a bar, like four stars and 10 reviews.
- Buy them all and set a reading pace.
- Track what you learn that your service providers do not know.
- Re-run the list each year as new books come out.
Questions and answers
What does over-specialized mean?
Richard uses it to mean knowing more than anyone else in your niche by reading more than they do.
How many short-term rental books did his team find?
Richard says 14 that had four stars or more and over 10 reviews, and they bought all of them.
Why read every book?
Richard says it can put you ahead of people who have worked in the space for years.
Is this only for new niches?
No. Richard says it is what his team is trying to do with Billionaires.com and Family Office Club.