Enterprise Mastermind

In Part 1 we took a look at why you need to find a Niche Market for your business. It helps to focus your marketing and ensures that your chosen market can be targeted and reached effectively. Finding a niche market that suits you personally is equally important and by asking yourself the questions below you will greatly improve your chances of being successful.

Do I know about my niche product or service?

Think about what you are good at. What skills do you have? Have you got any hobbies that you could turn into a product or business? If you don’t have any skills or hobbies that you could use, what would you like to try? Then consider whether this could be turned into a business venture and put aside some time to research the topic thoroughly, eventually leading you to the knowledge to build your own marketing niche in that subject.
By knowing your niche product and service you will ensure that you have the edge over competitors that don’t.

Am I passionate about my niche product or service?

Sometimes knowledge alone is not enough and enjoying what you are doing in your business venture will ensure that you devote the time and attention needed to make things happen. When the chips are down (and profits) you will be more likely to keep going with something you enjoy doing. Anyway, who doesn’t want work to be enjoyable?

Will enough people want my niche product or service?

If you choose a niche market that is too broad in its scope it may be difficult to make your business stand out against all the others in its field. Choose a narrow, highly targeted product and the lack of competitition will mean that anyone searching for that product will find you. Do research into your chosen product or niche and make sure that people are searching for your product by using an online tool such as those listed below.

Google Trends – http://www.google.com/trends/hottrends
Amazon Bestsellers - http://www.amazon.com/gp/bestsellers
Magazines.com - http://www.magazines.com/
Shopping.com Top Searches – http://www.shopping.com/top_searches
AOL Hot Searches – http://hotsearches.aol.com/