. What is a niche marketplace? In straightforward terms, it is a particular area of the industry at which a specific item is aimed with the item being created to meet the requirements of that marketplace. So, what do I mean by operating your niche market place and why would I tell you to operate it?
Nicely, at a recent seminar there had been more than 70 men and women and they have been all in non-competing niche markets, most of them with a possible marketplace of a hundred million dollars apiece. There is a vast array of achievable niche markets, each of which can be worked like a gold seam, to a wonderful depth.
Ill explain a lot more in a moment, but 1st I want you to avoid making a common error. Dont work a niche in a halfhearted way and then abandon that rich gold seam for yet another, unrelated niche. The trick is to discover your niche operate the niche to its full depth and to concentrate your efforts only on that one wealthy seam. Keep away from flitting about or spreading your time too thinly.
Right here is an instance of such a niche. There was a medical professional at the seminar who is amassing a enormous private fortune from his books, audio tapes, video tapes and seminars – all neatly packaged and effectively marketed. What is this outstanding new message requiring hours of tape and hundreds of thousands of words to clarify? It is merely this: Drink Much more Water. All quite logical, and who could argue with such a message, but he totally expects to clear ten million from it. A lot far more if he genuinely gets his act together. He is not even advocating drinking a lot more bottled water just plain old tap water!
This guy is really operating his niche. He is not diluting his efforts by dropping or sidelining his gold mine and going into other niche markets, associated or otherwise. He is concentrating solely on his selected, highly profitable, niche. I hope you can see the significance of this.
You want to begin thinking about what YOUR niche market could possibly be. If you uncover it then you will have a virtual doorway to riches which will open before you. You are a distinctive person with a special set of expertise and experiences. So, start off receiving your brain into gear to believe about what YOU could do. You need to be able to come up with something with a lot more substance than Drink Much more Water.
Consider about what abilities and knowledge you currently have and exactly where you can employ them to the ideal effect. By producing the most of existing skills you will speed up the entire process and tremendously boost your probabilities of good results. If it is one thing which you are specifically interested in, or even passionate about, so
considerably the better!
Bear in thoughts that a niche market does not necessarily mean a tiny marketplace. What is the prospective for simply selling the concept of drinking more water? The quantity of potential clients runs into a lot of hundreds of millions. The niche aspect comes from the tiny segment which you decide to pick from the vast array of products and services offered. There are millions upon millions of items and solutions and every single 1 is a niche.
Keep in mind the secret to success: locate your niche, work it to the complete and drink much more water!