What if someone asked you this question:
"How do I find a niche market?"
Do you think you could answer that question for someone you don’t know and have never dealt with before?
Doesn’t your choice of niche market depend on what you intend to offer to the marketplace?
I don’t mean the specific product or serivce, rather the TYPE of business you will do.
What about your own situation – are you stumped on how to go about picking a business idea, a niche market or some aspect of getting your online business up and operational?
Really...the question is – what business do you want to be in, which must take into account this very important question…
WHAT VALUE WILL I PROVIDE IN EXCHANGE FOR PAYMENT
So, if you are struggling to understand how to get your first (or next) business up an running, consider asking these questions first:
Have you decided on a business model?
Market research to find a hot niche market and topic for your own ebook will differ substantially from market research techniques for finding hot niche markets that will create high demand for visitors and ad revenues.
What type of business do you want to build?
What sorts of things are you good at…for example:
1. Are you curious – an investigator that likes to uncover hidden demand within markets, then you want to seek out niches and topics for your own information products (ebooks, books, courses, etc…). What are you main activities here? Uncovering hidden demand and creating solutions. That’s what you need to LOVE doing and something that you are good at. If you enjoy digging deeply into markets and uncovering desires and frustrations AND re-packaging information in a uniquely differentiated way – then pursue this business model. As the members at InfoMarketerszone know well, the rewards of producing your own information-based products is tremendous, if the business model is right for you.
2. Do you want to spend your time marketing – you have a skill for positioning existing products – then you want to find niches that are associated with some strong products you want to market. The business model of marketing other people’s products is for people who don’t like investigating or packaging information, but enjoy copywriting, advertising and marketing far more.
3. Perhaps you want to build a large content site and make your money from ads – so you want to select a larger niche where you can link to together many sub-niches into a powerhouse, authority site? Skills and strengths for this business model include a disciplined content development routine, an ability to test and track advertising and a solid networking ability to find and negotiate lucrative ad deals.
As you can see, your choice of niche market MUST be guided by your choice of business model. Once you know how you will make money – what value you will provide in exchange for revenue, you can go about selecting the best-fit niche markets for your business model.
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