Finding Your Niche
Many people struggle for years with one unsuccessful business
attempt after another. Lots more have already given up. But
mistakes aren't bad. Not even failure is terrible. Both are
temporary conditions, conditions that you can change.
And they're inevitable, too... but you can get them out of
the way, learn from them, and apply your newfound knowledge
to the success of your business.
Probably one of the biggest mistakes made by "newbies" is
trying to be everything to everyone -- that is, trying to
find or create a product that everyone's going to want to
buy.
Instead, the focus should be on creating a product or
service that's going to appeal to a specific group of
people.
Lots of people who start businesses on the web get into
the whole, "sell information about how to make money to
make money on the internet".
Please... don't. Consider this:
- Loads of people who have never made any money online
themselves -- or never made any significant amounts
-- claim to be able to teach others how to do the
same. Think about what this does to the credibility
of the whole industry. Without credibility, your job
is going to be much harder.
- The market is saturated with a bunch of garbage
products. Again, that makes it harder to convince
people that your product is top-notch.
There are easier ways to earn money than to provide yet
another "how to make money on the internet" product. What's
your passion? What special skills or knowledge do you have?
- Construction workers may have inside knowledge of what
'flaws' to look for before taking possession of a new
home.
- Stay-at-home parents may have some great tips on how
to find, trade, or barter for good-quality children's
clothing, cheap.
- Hairdressers may be able to provide easy hair styling
tips that can be done from home, without expert
knowledge, and without any fancy tools.
Many resources are available to help you evaluate business
ideas. Two of the better-known resources are:
- WordTracker (very popular, limited free trial available)
- NicheFinder (neat software, useful charts)
An ideal niche would be one where there is lots of demand,
but not enough supply to meet that demand. In other words,
that means:
- A lot of searches for a key phrase (and related
key phrases)... BUT...
- ...NOT a lot of results/sites that cater to that search.
People who are just starting out online, or those who have
been struggling for years, often start businesses by trying
to figure out what's going to make them the most money (and
in the shortest period of time!).
This is a losing strategy for most people. Business is hard
work... and even if you're fortunate to have great success
relatively fast, you will go through bad times. It's
inevitable. But if you hate what you do, it's going to be
a lot harder to stick with it. Besides, why be miserable?
Find a way to make money doing something you love.
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ABOUT THE AUTHOR:
Angela operates the Online Business Basics
website, which offers free marketing tips and articles for beginners to
the 'net. Visit www.onlinebusinessbasics.com
for more tips on how to effectively market your business on a limited
budget.
Originally published in April 2004
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