Decoding The Challenges – Finding The Right Niche!
In my recent webinar, most of my students asked for assistance in finding profitable niches for their online business. Considering the real fact that most of the popular niches are already taken, selecting one can be really a tedious task.
Instead of giving solution to couple of solution seekers, I thought of sharing it with everyone. So for all those who have been having tough time dealing with the niches, here’s the complete guide on finding one. By the time you end up reading this article, you will be ready to jump start your online venture with the most profitable niche:
Innovate the existing
Were you thinking of bringing something new into the market? What is the expected rate of succession? You might fail terribly or you may win it totally? So you enter an extreme situation.
Now think of a situation where you are offering something better. Step into the shoes of your target audience for business and imagine getting improved product/service/guidance. What will be your take on it? You will be certainly convinced to try it out. So when you get an upgraded version into the existing niches, you not only enhance try something with better returns but you also give your business instances for potential boost.
Open to improvement
The key to success in a particular niche lies in room for improvement. Online entrepreneurs are seen focussing a little less on improvements and the one’s who have shown improvements are rewarded. Be a customer of your own niche and study your experience. Read reviews about your product and learn as much as you can from criticism. Instead of jumping on to another niche if you get something negative, focus on offering improvement. Speak for the esteemed customers and tell them how much they are valued. Customer satisfaction is and will remain the key for successful business.
Specialization is the key
Many of m students have expressed disappointment with their topic of interest because they think there is too much competition. You can always pave way through competition via specialisation. Dig deeper into your interested niche and explore all the possibilities. There is certainly going to be something in your selected niche where you can contribute a little more and come up with specialisation. Example: In thinking about photography, think of studio lightening for customisable budgets. A different niche it is and will certainly get you the desired results.
Keywords are an integral component of niche marketing. And to break the shackles and float on top, you have to research. Research until you are tired to death, think until you are convinced of the result and improve until you think you have hit the right chord. These three words are the bait to finding keywords that will become the game players for you. Don’t you dare try hands on something you are not sure of or you are partially convinced with. Decode the thoughts and connect through technology.
Your aim is to set up a business in that niche, so you have to think beyond the narrow lines where everyone has set up a small stall. Rather get to the edges and look down and up until you catch something in the air drop to shoot a bubble. Think out of the box!