When it comes to identifying your niche market, business idea, opportunity or product that will serve as the basis for your success in building an on-line business, there are many dead-ends and potholes that can take you off course.
Having more than a decade of experience identifying key market opportunities, developing successful products, and building profitable businesses as well as coaching thousands of others to do the same, I’ve seen my share of mistakes as well as wild successes.
No other decision will be more important, you get your choice of market, business or product wrong and there is no recovery — only pain and suffering…as unnecessary as that may be.
The good news is that the mistakes are avoidable and the choice of business and niche market can be simplified down to a key set of principles that dramatically increase your chance of success while making the entire process of building your business a wild and exciting ride!
Here are 4 points based on years of experience that will help you to choose your niche market an on-line business idea correctly.
You Are About To Become An Expert
Being an expert is not as important as committing to become an expert – many niche market leaders started with very little expertise but were committed 110% to learning and trying fast which helped them guide their followers as they grew. So for those of you reading this that have avoided niche markets because you fear not having enough expertise today, what really matters is what you commit to tomorrow and beyond.
Get Down To Practice
Practical experience always trumps theoretical…so you should be willing to become ‘active’ in your market. In any market, you have the heard who “want” to be active but lack confidence, knowledge, hope, self-confidence, etc… You, as niche authority, lead by taking several steps beyond and actual become active. If that’s not you…then you want to place yourself between those who are active and those that want to know by being an interviewer, researcher, reporter, etc…where you map expert practice to desire in a marketplace
Master Communicator
Your ability to relate, attract and engage your market will go a long way to driving your authority status. There are many people who have expertise in a given area but that lack the social skills/marketing skills to bring that knowledge to a given market. You can have less knowledge, but be a better communicator and easily lead your market
Work Harder – Attract More
Hard work trumps all. If you have an ounce of knowledge ,an ounce of practical experience and an ounce of communication ability but you have a POUND of drive and discipline then you can win top spot in your marketplace and attract MANY followers along the way
It is this last point where interest/passion comes into play. Most people are not willing to commit to taking action or have the long-term discipline it takes to build their place in a market around a market or topic that does not interest them.
So it is important to find a market, a problem, a topic or something about your business that lights a fire in your belly…that makes the entire process of becoming an authority that much more likely and more effective
