What are the deciding factors in choosing a niche market for your online business? Research is the key to finding a successful niche. Knowing where to research is critical and if you are waiting to hear what websites I would suggest to do your research you will be surprised to find out that I won’t give you any. No I am sad to say, the best place to find a great niche market is in your circle of influence.
People that you associate with on a regular basis normally are interested in the same things as you are. Your first venture into niche marketing should be into an area where you have a passion. This way it will be easy to grow a product line without the stress of learning it from the ground up. Start by picking a subject that you either love to participate in or at least love to offer advice to others. Now what was the last thing you looked up about this subject online? Did you find a good quick answer?
Now take the tie to ask the people around you about the subject. See what questions and what advice they offer while you are doing this. Real world research is about listening to what other people have to say. As soon as you leave the conversation make notes as to what they said. Doing this several times will let you know if there is a passion in others about this particular area. If not then start over until you find a topic that lights a passion in several of your friends.
Next narrow down all that was talked about to a single question or two. This will laser target you into a market that has some potential. Now make a list of friends who seemed most passionate about the topic. This will be your test market later.
Build a model of your buyer in this market next.
What things did each person who showed an interest have in common? Thing like age, education and marital status will help you build your perfect customer for your market. To be able to sell to a niche market you must know who you will be marketing. Most businesses fail to decide who they are selling to so they try to sell to everybody just hoping to get lucky and someone buys from you. Niche marketing means that you zero in on what you are selling and who is buying what you are selling.
Now you have found your market and you have found your buyer. All that leaves you is to find your products and research to see if your buyers want that product. Start out with the people who were most passionate about this subject and question them about your core product. Make sure that they are still passionate and you are ready to launch.
To find more common sense ways to build your online business into an empire check out the resource box below and then join my blog.
Who is Mike Gordon? Mike Gordon is a successful business owner and business coach with over 40 years of successful entrepreneurial experience under his belt. Mike can be found at his blog http://www.whoismikegordon.com Mike is currently working with all types of businesses and businesses owner to strengthen their internet marketing strategies. For more success secrets sign up for updates from http://www.whoismikegordon.com
