This is the part two of the niche-finding exercise I wrote about in my previous post. As I have already said that this list is a fool-proof way of finding a profitable niche. All successful niche marketers use a lot of these ideas, if not all, to investigate their next profit-pulling niche.
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o move on to another product you need to make sure there is a market for it. You must take stock of the competition. How is the profit margin? Whether to source it from a manufacturer, if it’s a physical product, or, do affiliate selling? Can you rely completely on a non-selling model and earn from advertising alone ( Adsense etc.) ? Is there a scope for a digital/multimedia product (software, ebook, report, video/audio training) in that niche?
read moreHere is the promised follow-up to Regina Brett post I wrote earlier. The next five points. Enjoy.
read moreThis reminded me of my Chartered Marketing days. And Michael Porter's Five Forces Model. Although the model is as old as I am, I only understood a part of it beautifully while reading Chris's email this morning. The importance of 'barriers to entry' part dawned upon me.
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I have been told numerous times that the universal laws of life also apply to business and entrepreneurship. After all it’s a journey as well, they say. An unknown one for most.
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Yeaps, finally I managed to put together a platform where I can get involved, on a voluntary basis, in web-mentoring. I hope to pass on my skills and insights for the benefit of budding web entrepreneurs.
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