The Psychology Of Niche Selection - What You Should Be Thinking About When Choosing A Niche
By GT Allen
Far too often people don't spend enough time analyzing everything they should when they choose a niche. They usually get an idea and decide on the spot which niche they will enter. Sometimes they will get lucky and choose a niche that has a big market and a lot of people spending money in that market. Other times, they don't get so lucky.
Before you blindly choose a niche, I want to talk about the psychology of niche selection and what you should be thinking about when choosing a niche.
First and foremost, unless your in a niche for non-profit, choose a niche with the idea that you will be able to pay your bills with this business. I'm sure I really didn't have to say that, but I wanted to cover the most basic things.
Anyways, I want you to really take a step back and look at a niche for what kind of people are attracted to products and services inside that niche. Bottom line is you want a niche where people have two things... one is they have discretionary money to spend and the other is they are willing to 'invest' their money by buying products and services.
For instance, credit repair is a hot topic right now. Why? Because people have been through the ringer and back and their credit is probably not even close to what it used to be. In fact, the number of people affected by credit issues is staggering.
So why would credit repair be a bad niche? Well, if you take into consideration the two points I said, people have bad credit usually because they can't pay their bills. It's not that they don't want to pay their bills, it's just because they can't. Well, if you understand this, you'll understand that people won't readily be able to pay for credit repair products or services either, thus making this a niche that's not very profitable.
I hope you're getting an 'aha' moment by now.
People who you could classify as 'job seekers' tend to be poor people to target because they rarely take risks and they rarely invest in themselves. On the other hand, entrepreneurs are more likely to take risks and invest in themselves, which is exactly the kind of people you want to target.
Plastic surgery can be a very targeted micro niche that can be great because people are definitely willing to invest in themselves to fix whatever problems they have. I think you now get the idea.
By the way, if you liked this article, you'll love my brand new daily newsletter that teaches 'behind the scenes' content just like this. The content is fresh, it's unaltered and it's stuff most people are afraid to say. If you liked the article, you'll really appreciate the daily content.
Sign up here: Real-Internet-Secrets.com
I also have a new ebook I wrote detailing the 10 lies gurus use on people everyday to get them to buy their products. It's powerful stuff... and shocking!
Grab it now: 10 Lies Of Internet Gurus
Article Source: http://EzineArticles.com/?expert=GT_Allen
http://EzineArticles.com/?The-Psychology-Of-Niche-Selection---What-You-Should-Be-Thinking-About-When-Choosing-A-Niche&id=6672340
No comments:
Post a Comment