Some Ways to Find Niche Markets Where You Can Succeed
Rocky Olson prodded me to Write this post. This is not formal training. It is just a few reminders about how to start looking for a niche market. I know that I have written a tutorial on this and maybe a blog or two, but it is such an important topic I decided to hit it one more time just for new member Rocky Olson.
Here is a very good way to start: find a passion that you can live with for a very long time. Then search for magazines in that area. If you don't want to buy the magazine, you can probably get a sample copy by simply sending an email to the editor. (If you don't want to buy the magazine, then maybe you don't have a real interest there.)
Read several issues of the magazine very carefully. Make sure you study all of the advertisements. It is good if you can look at a number of issues to see if the advertisements are being repeated. If they are being repeated, then there is probably a market. Note that some ads run for years.
Go to a few forums on the subject. Take part. Don't try to sell. You will get booted.
DMOZ is often suggested as a good place to start looking for a niche market. It is! Go there and dig deep.
Remember that you are looking for buyers. Therefore I suggest that you look at Amazon Suggest, the suggestions that come up when you search for an Amazon product. These are words that the buyers are using.
Google Suggest can also be very helpful. Just remember that Google has their own interests, they are even our competition now. So watch that you don't get into one of their funnels.
EBay has a great index to work from and they also suggest topics (keywords that buyers are using).
When looking for niche markets use the ABC method. https://my.wealthyaffiliate.com/tj-books/blog/old-...
When you have a pretty good fixation on your niche market, carefully study the webpages that will become your competition. What are they pushing? What are they not pushing,areas that you can delve into?
If you have an existing business, you can take it to the Internet. My son has done this twice working from email lists that he has compiled with time. He started with the Irishflutesstore.com which he sold recently. Now he has homegrownherbalist.net. He is a veterinarian and he is ready to hire another vet just so that he will have a more time. On a recent weekend, he earned $11,000 lecturing and selling his stuff offline.
My granddaughters make their living on the Internet making hats for babies. Last season brought them $80,000. They are continually gearing up.
It is possible for you to talk to other business people who might give you some very good insights into certain market. Don't be bashful. Go to your local Chamber and introduce yourself and see if you can't get some important contacts.
Do you know that you can actually go to the library these days. An older friend of mine told me that he never went into the Spencer Branch of the Salt Lake City Library when I was not there. You have to remember that our radio never worked and that Milo Farnsworth of Malad, Idaho had not invented television. How else would I get an education?
Go to the library and pick out just one subject of interest to you, and dig down into the books, not for the purpose of gaining knowledge so much as looking for problems that need to be solved where you can build a niche market.
You might also take a look at all of the franchises that are offered, not for the purpose of purchasing a franchise, but to get new marketing ideas. Study how simple some of these franchises are. What problem are they solving? What problems can you solve?
You have the idea, don't you? Review the tutorials here to find other ideas. You soon will have so many ideas that you will find that you must narrow them down. For example you can go to Ubersuggest.org and find thousands in minutes. Nice thing about Ubersuggest.org is that you can narrow it down right then and there because they have done it for you.
My neighbor just drove by in her Toyota Prius. I think that she goes to church every morning. It was not long ago that the Prius did not exist. It is almost a prototype as far as I'm concerned. Who wants to drive a ton of batteries around? But the idea is that area of transportation will continually be improved. In fact the competition has already moved in.
Can you tell me what problems the Prius solves? What problems does it create? Where are the future possibilities. Try this exercise on several products you know about. It will get you thinking in the right direction.
You never know where you will find a profitable niche. it might be at a flee market where folks sell there own wares. It might come to you as you pass the kiosks in the mall. You just have to keep your eyes open and don't forget to look into your past.
Hey! Maybe I'll give it a try. I have to practice what I preach, Right?