Much has been written about niche marketing and the many advantages that this can provide for a successful online venture. If you do decide to go this path, it is important that you pick the right niche market for your business. Read on for more.
In business, you only want to play in a niche market you can dominate. To find that niche, you must first look within yourself.
What are your passions? Hobbies? Strengths?
What do you love to do? In what areas do you excel?
Picking something you are passionate about is vital. Passion provides purpose, instills courage and inspires perseverance. You can't become great at something you don't care about, are scared of or will quit when things get tough.
And business is tough. You're going to experience difficulties no matter what area you choose. So choose an area that makes pushing through the problems worth the effort. Otherwise the problems will overcome you rather than you overcoming the problems.
If you're not sure what you're passionate about, think back to your childhood. What did you dream of doing? Who did you dream of being? Chances are those dreams are still alive inside you; they've just become buried over time. Resurrect them and make them happen.
If you're not sure what you're strengths are, ask your friends and family. They've been around you enough to know what you're good at. You probably don't even realize your strengths are strengths because it comes so naturally to you!
Once you figure out what you love and are good at, you need to narrow your focus. Where in your niche can you be the best in the world?
By claiming a niche within your niche, you are seen as a leader and thus have a competitive advantage over anyone who tries to encroach upon your territory. When you're the leader, everyone else is perceived as a copycat.
Pursuing something you love is only half the equation. The other half involves marketplace research:
-Does your niche provide enough revenue for you to be profitable?
-Can you reach your target audience?
-Can you sell and resell your customers?
-Do your customers have enough money to afford your expertise?
-Are other people selling similar products?
If you can't find any competition via sites such as Google or Clickbank, it's probably because the market for your product does not exist.
If that is the case, you need to dig deeper within yourself. What else are you passionate about? What else are you good at?
Keep searching until you find an area where you can both leverage your strengths and make money. Then take immediate action!
Glen Hopkins specializes in teaching struggling entrepreneurs how to turn their small Online businesses into thriving money machines all while working less and earning more. To get more information, including Free Reports, Videos and CDs, visit: www.GlenHopkins.name
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