Is it better to start a very specialized business or a general one? (crosspost from /r/entrepreneur)

To be more specific, I am a longtime translator and am working towards opening my own agency to outsource to other freelancers. I personally specialize in a niche field (legal translations) and am wondering if it is more pertinent to keep that specialization going when I open shop. Is it easier to attract clients if your industry is more niche? Or in my case, would it be easier to target clients for translations of all stripes?

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