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Tuesday, May 27, 2008

Why You Need To Find Your Niche On The Net

Being one among a thousand will make no difference to you. How would you feel if you were an exclusive one amongst a thousand? It would feel good, right? The same applies to business. If you enter an already explored, safe business, you will be amongst the many that already exist. If you are smart, you will find yourself a unique niche that will guarantee you a regular bunch of customers and you can even claim monopoly until someone else swoops in to give you competition.

The key to success is to identify a niche market. It is not so difficult these days with the advent of internet. There sure is some sect of the market that desperately requires a particular product/service. You have to identify that and provide the same. If you can do this, success is all yours.

Firstly, draw up a list of your interests, at least 10 of them.
Look through your bookshelves to see what reference books you’ve purchased in the past.
Do a search on your computer to see what information you’ve looked for and saved on your system.
When you meet people, listen to what they are speaking especially when it comes to hobbies and interests.
Read through classifieds of magazines and highlight the ones you want to call and find out more about. Talk to them and see how soon you get information, how are they selling, how good are the quality of their products, how often is their ad getting repeated in the issues. Watch that market like a hawk and learn.
You have found your interest. Look for discussion forums relating to your market. Do a search on the same.
When you are amidst a bunch of strangers in a queue or something, listen to what is being spoken. Observe intently different kinds of people in different strata of society and what they say. You will procure some information about what their needs or their wishes. It could be something as silly as a person exclaiming “I wish I could find an agent who would take care of all my relocating related issues”. Now this could mean, closing connections in the previous place, informing people, moving into the new place, getting everything arranged etc. such that you don’t have to run from pillar to post to get things done. Now this is something you can gather from just one random statement exclaimed by someone. Probe in further into the same to study the scope of such a service if provided. Do a feasibility study, decide who your target audience are, start making networks and soon you will launch your business.

You have to keep your eyes, ears and mind open to opportunities. Research, find that soft spot and then launch your business. The lesser competition, the better. It is definitely more challenging but equally rewarding. Hard work combined with brain work surely pays. Don’t you think you should test it?

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