When you’re trying to pick your first (or next) niche market for your online business…
Whose advice do you take?
The advice of a part-time, hobby-based entrepreneur who makes an extra $1,000/month with his small niche on raising happy, healthy pet pigs or the full-time online marketer who pulled in over $2 Million last year working from home tapping into the competitive market of health and wellness?
The hobby entrepreneur will swear that the best way to pick your own online business niche is to pick something small, under the radar. "Look for a niche market where there’s very little competition so you can shine through and dominate your tiny niche.
Is he wrong?
Not necessarily – if you are looking to do the same thing as he’s doing, earning an extra $1K per month to have some extra spending money, then follow his advice.
But…if you want to really replace your current full-time income and eventually work yourself into a much more favorable financial position, then you’re going to have to listen to the strategies used by the BIG money earners who all tap into highly visible, highly competitive, BIG markets and then focus on dominating on the hottest challenge felt by the millions of prospects within that major niche.
In other words, go with a big niche and dominate a small part.
BUT…HERE’S SOMETHING YOU MAY NOT KNOW
When you think of big niche markets you think of health, weight loss, business, make money from home, cooking – right?
Sure, but what about pets, dogs, cats, hypnosis, digital cameras, gaming, saltwater fish…these are all very substantial and busy markets for online information marketers.
So, rule #1 is to focus on BIG niche markets
Rule #2 says don’t assume you know all the big niches, there are hundreds you haven’t even uncovered yet.
Rule #3 discover unsolved challenges within these big niches where there is an irrational desire to get, be, do or achieve something.
Rule #4 Improve on what is already out there…incremental improvement is all that is required.
When you’re in front of a big market, it’s like you are positioning yourself in front of a big wave that continues to gain momentum over time. Watch the trends, how are things changing in your favor?
Here’s a good example, the pet market has always been a good one for information products – dog training, cat care – about a year ago major trends in news began to happen talking about tainted dog food which all of a sudden raised awareness of pet owners to the importance of pet food. This trend has sustained for more than a year in the news engines and in terms of interest for dog food information. Indeed, there are ebooks who have sold near the top of clickbank targeting just this market.
How do you track down these niche markets? What tools do you use to uncover trends and research the demand within a given marketplace and THEN…turn that demand into mony in your pocket…we certain cover this in the 45-day Information Product Profits Formula at InfoMarketerszone…we look forward to seeing your BIG idea.
