You hear a lot of talk these days about “finding a niche”, as if the concept is new. It’s not.
A niche business is simply a business which serves a highly targeted market
group. That’s the short definition. But there’s something even more important you need to know about niches.
The fact is: a niche is a business idea. Read that again and really think
about it.
When you zero in on a niche, what you’re really doing is zeroing in on:
1. The audience or target market you would like to serve.
2. The core mission and unique selling proposition of your business.
3. The core product line of your business.
4. The realities of the market, which guide every aspect of how you structure
your business, how you advertise and promote your business, and how you
manage the long-range growth of your business.
To find a niche and create a business based on that niche is to stare
“marketing reality” in the face. It’s the difference between having a concise business plan and no plan at all. One maximizes your chances for success, the other is an almost certain road
to failure. So as you read this and begin to think about niches and niche businesses,
keep these points in mind.
Niches are not magical, newly discovered entities. They are simply markets
within markets. Hungry and eager to buy. It’s all “Business Sense 101”.
I created this step-by-step guide to show you the entire process of starting
and profiting from an internet based niche-targeted business. Everything you
need to know is here: from researching and surveying your target market, to
creating and selling your final product.
You’ll also learn some approaches to what I call “niche thinking”.
This is a fancy way of describing the market research process, and how the
types of opportunities you spot can vary based on whether you view markets
in terms of products first, or people first.
