I think I'm starting a bit of a niche business so it's great to hear all the positive response. I recently opened the design studio: Duk Design, but the clientele my design attracts is definitely a very specific small group. It's great working with like-minded people but I might have to get more mainstream unless I find new ways to market my business.
---Duk Design Vanessa Hansford www.dukdesign.com
there's this girl who started google for dogs. millionaire now.
another guy who started selling pre-owned engagement rings. also a millionaire now.
In the online world if you want to build business, and it definitely should be a niche business, unless you have a multimillion dollar advertising budget.
Because the cost of operating a business on the Internet are so much lower. A shopping mall has high running costs, because they need to pay the rent or lease and they need to pay lot of employees and they need to move the inventory.
The opposite of a niche business is a shopping mall. In a shopping mall you can kind of find everything. You can find for what’s you can find bread and fine foods and drinks and cigarettes and minicourse and clothes and books and CDs and more. These are all-in-one stores.
If you plan a good strategy niche businesses can lead to success online through affiliate marketing and stuff
Niche businesses offer the perfect opportunity to get started. You don't need much money and you can leverage technology to compete in the world market and make a descent living. This has only been possible in resent history.
With the technology that is available today, a new business can be created around just about any hobby or personal interest. This enables a new entrepreneur to focus on something that they are truly passionate about and connect with others who are equally passionate. This makes defining the ideal customer and marketing to them so much easier.
The new methods of social marketing are just beginning to be fully utilized and niche marketers will be the ones to do it. If it's done the right way it's possible to really crush it with huge financial rewards.
Creating a niche business and targeting a smaller, more focused audience can help you develop your business and maximize your sales potential. But the selection of niche is very important for rapping a huge reward. Inventory of skills, interests and knowledge plays a vital role in the selection of business niche.
I don't believe a niche business takes more work to get the word out there.
Also, with a niche, you can charge much more money for more specialized products.
On the internet you can find the people who want what you've got immediately. They're already lined up as "Presumers" on Facebook, Twitter, Linked In, Meetup, Youtube or whatever.
I believe that if you don't have a niche, you better have a lot more money for ads and be prepared to earn a lot less money per customer.
I've found that in Niche businesses, there is a lot of opportunity for partnerships. When you've got something that compliments a "competitor" it is a great way to refer business to each other.
---Personal Child Stories
Being a niche business means being both unique and good at being so. Following a trend or offering sub-par services will not allow you to profit. If you are good enough and offer unique enough services, you can make a large return in investment.
When people go to a niche business rather than a larger chain, they expect higher quality than what the chain can provide. You cannot compete with the higher range of costumes the bigger store can provide unless your costumes really are of exceptional quality.
When thinking up an idea for a niche business, you need to ensure two main things. The first is that there is actually a market for the niche you are attempting to fill. Often this step will happen even before you come up with an idea. Bigger business can do this by offering as many services as possible, making it convenient to do it all in one place.
My niche business has been in the Mom-Entrepreneurial realm. I want to motivate and inspire more mothers to become successful Mom-Entrepreneurs. I even developed a FREE 6DAY workshop sharing my journey to success, inlight of inpiring more success stories. www.themomentrepreneurs.com
It may not be a popular niche yet, but I hope to make it one soon.
Peace, Love and Success