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“Niches Are Like Bathrooms;
You never notice them until you need one.”
– The Nicheman
Question: What’s a Niche? … Answer: A niche is an unmet, under-served, ignored, overlooked, or neglected need of a target group.
If your product or service can fill one of the categories listed above it could solve your money problems forever. So, read this course carefully. It will help you recognize niche opportunities others normally walk over.
Now you can pick up the money others leave on the “niche opportunity tables!” Sound good so far?
But, before we start our journey on how to find a niche, let’s find out the kind of niche we need. We don’t want just any kind of niche (That’s right – all niches are not created equal).
Our goal should always be to do something the competition isn’t doing or something the competition isn’t doing as well as we are. That’s the kind of niche that attracts money the quickest?
Your job as an entrepreneur is to fill an unmet, overlooked, ignored, or under-served niche – quick and hard.
So, to focus your thinking I’ve developed a group of questions you should constantly be asking yourself.
These questions will help you recognize niche opportunities you may otherwise overlook, neglect or ignore. You should constantly be asking these questions. They’ll help to keep your mind alert to niche opportunities your competition may not see.
The questions will also give you an added benefit of helping you to stay alert, creative and free from rut thinking.
Many businesses trapped by rut thinking, neglect opportunities everyday. You’ll soon be like a chiseled, quick jabbing prizefighter – boxing a slow lead footed challenger, when it comes to spotting niche opportunities.
Moneymaking market niche opportunities that others can’t see will be as obvious as Mt. Everest to you. Do you think that would give you an advantage over your competitors? You bet it would.
Many benefits will come naturally from asking the following self-questions.
Remember, these questions aren’t meant to be a one-shot deal. As long as you want to recognize niche opportunities, that’s how long and often you should be asking yourself these questions.
As long as you want to stay in business, that’s how long you should be asking yourself these questions.
So if you’re ready let’s go!
A. Research Your Competition
1. How many products and services are they offering?
2. Where are they doing business?
3. How much of the market do they have?
4. What’s the size of their customer base?
5. How big is your competition?
6. What are their strengths?
7. What are their weaknesses?
8. What don’t they like to do? Or what do they neglect to do … that you can do better?
9. What market are they not serving that you could serve? Teens, seniors, women, men, etc.
B. Research Your Target Market
1. What are their primary needs?
2. What needs do they have that your competitors aren’t filling?
3. What needs do you anticipate they may have in the future that you can fill?
4. Do you have an ongoing program that gauges their needs and problems?
5. What do they want more of?
6. What do they want less of?
7. What can you do now to make it more convenient for them to buy your product or service?
8. What can you do now to create more repeat business?
9. What can you do now to create more referrals from satisfied customers?
By reviewing the previous questions, you’ll be doing more to help yourself recognize more %market niche%2 opportunities than anything else you could do. Use them as a starting point to spark your imagination.
You’ll soon discover that as you begin to use and answer the suggested questions they will start to motivate you to ask more questions. Questions that are more specific to your individual business, product, or service.
You’re now poised to recognize niche opportunities you’ve been overlooking. Congratulations! Now get to work!
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