In this episode I’ll share with you a very important step you need to do before charging full steam ahead with your new product or service!
Nice simple video with an important lesson presented in a fun way.
I hope your year is filled with love, joy and prospertity!
I don’t know Jim, targeting a niche that is very low populated might actually be a very good thing to do if you are just starting out. Think about it. Most people who just start out in their business have very little experience and therefore will most likely fail when trying to compete for a spot in, let’s say, the weight loss niche. It’s true that there are a lot of potential costumers in this niche judging just by the Adwords stats. However, competition is also fierce. It might therefore be better to start out with a low volume niche which has as little to no competition in it and where you can be sure to at least make a couple of sales and get a bit of a feel for the ways to run a business.
I agree with you. One of the most needed thing before creating any product is ‘Research’. Thank you.
I hear you Jim. Let me also add that it’s important to know what people are willing to PAY for.
My partner and I sell local B2B marketing services, and a year ago there wasn’t much competition in this area. Apparently there isn’t a lot of money around here either because it takes a tremendous amount of effort to educate people on what we do and why they need it.
We’ve changed our core offering a couple of times trying to find that sweet spot, and are now working on packaging the vast amount of information that’s in my head and selling digital products. We’re going to repurpose everything into niche versions.
Woulda, coulda shoulda done this at first but I wanted to get out of the home office and in front of real clients again.
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