How I profited from an Established Niche

byplatinumclub

290 followers

10 years ago

Creating a New Niche has its challenges and it may take a long time to establish a profitable one at that too. However, I used another strategy to take an old established Niche by changing some key principles and turning it into immediate and above average profits.

The Online world, despite being such a major worldwide phenomenon, is not used to its fullest potential especially by old established small businesses. Some good examples would be some motor parts dealers, many real estate niches, bakeries, etc. These niches have well established marketing budgets and strategies that were created years ago and still being used as a major component of their prospecting methods. Very few of these businesses focus their primary marketing strategies online, which opens a window of opportunity to us Online Marketers.

At this stage, I am still easily able to find some small business, usually owned by a single individual or family, that also has products with excellent profit margins. There is one family that was established in the motor parts business for well over 2 generations and seemed to now be struggling with the increase in competition and surprisingly do not use any advertising methods at all. This may shock you but this is not uncommon for old established businesses run by family members. This business relies totally on its established clientele and walk-in trade.

I encouraged my wife, who is part of that extended family, to purchase a motorcycle and simply place an online ad through google adwords. As clients called, she would deliver the parts (her unemployed brother would do this part) to the respective clients. She did not need to keep any stock as she would purchase on a need basis and have the part immediately delivered and collect the cash - making money on a daily basis! The town she lives in does not use online advertising by any of the motor parts companies throughout.

When I first had my business website, I paid a Google certified company a monthly fee to optimise my website for search rankings. Today I have found that with just a little training, one could do 10 times a better job than any outsourced company could. This is because you understand your business better and have so much more information that you could utilise in your Online Marketing strategy through Blogging, social media, keyword optimisation, etc. You could employ someone to carry this function out for you, under your direct and immediate supervision and it would still be financially viable.

I am surprised to see so many people entering the Online Marketing Niche and struggling. They all seem to be making the same mistake. They all want immediate reasonable income that could support their living expenses but begin by marketing a product that requires time and extensive knowledge and expertise in order to reach the level of income that could meet their expectations. Yet there could be a small business just down the road from them which they could easily approach and offer to be their agent by marketing their products through the fantastic system of Online Marketing. Some basic knowledge could bring immediate cash within days, if not hours.

So making money Online is a wonderful tool that needs to be exploited by each individual wishing to earn some immediate income through first looking at their own doorstep. Once you have a steady liveable income, you can scale your business into other avenues that can profit you on a more medium to long term basis. Some Online strategies and businesses require a year to 18 months to become stable or even break even. However once that stage is reached, it becomes easier to scale the business especially if you spent that time intensely increasing your knowledge in the industry.

Following this strategy of looking first in your own doorstep and using the extra cash earned to focus on other traditional Online Businesses could perhaps get your cash flow up and running in a short time and allow you to stay self employed in the long term. Focusing on constantly learning and improving your self would certainly reward you far better than any employed position could, in the long term.

Osman