Okay, here comes the first hurdle of our online business. Determining our business niche - what is a niche and why knowing about it is important.
To start our online business, we need to choose what we want to sell - products or services. After that, we need to find if there is any demand for it. When there is no one buys, it has no demands. Demands exists = buyers exists = we can start selling, yayy!~~ :-D
Now we talks about buyers (demands). A large number of buyers do shows a big market, few buyers, well, the market for that particular products/services is (currently) small. This big and small market can influence our business priorities either to seriously start selling or not, because for big market, logically we can sells more compared to smaller market.
However, there is one market which is not so small nor not too big, but is filled with buyers who demands for special needs. This market exists in almost any type of market, does not matter of it's size. It is actually a narrowed down market, where here our buyers demands for specific type of products or services (they can be quite demanding too). And this special market is called the niche market.
Again, niche, in a simple definition is a distinct market of demand for a products or a services.
This so-called niche market is what we internet marketers search for. And yes, definitely for beginners, you need to get this special market no matter what, by hook or by crook. But why niche market is so special, so that important?
When dealing with big market, normally we create such product or services that is customized for all buyers. We mass produce gadgets, medicines of general use or we provide services which able to suits all type of buyers. Well, that is obvious because many would use them, but niche market is kinda special and it is very profitable.
Niche market consists of buyers with special demands. Special demands need special product created for them. Special demands also in need of special service catered for them too. And, because we sells generalized items before, this niche market is left behind. Nobody or there is only a few who caters this special market for them. And that means opportunity for us - whoever able to give them what they need, he or she might become the sole provider or their primary resource for that niche. Wow, imagine how much we will earn if we are the one~ ;-)
That is why we need to focus on this niche market. ;-)
Reading links:-
IM-AIOExplained: "Starts Small Stay Focused and Finish Big~~" :-D
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