Recently, my brother-in-law and my seven-year-old niece found a brilliant way to do one of their favorite family activities, earn money and teach the kiddos all about starting a business, negotiating and customer service. In fact, they are earning on average 200 bucks a week, which my niece is then learning how to manage!
What was this amazing niche?
Selling legos. But not just any legos – constructed legos.
Enjoying putting legos together every evening as a family, my brother-in-law started browsing online and stumbled upon a little site called Bricklink. Apparently, there are plenty of hungry lego fans who PREFER to buy already built lego Star Wars scenes and Olympics scenes.
If you can find yourself a good niche market and DOMINATE that market, then you can easily extend yourself in other markets and do the same thing. The key is finding the first one.
Here are some tips to finding your niche:
More often than not, it's a great idea to be as specific as possible in life. After all, if you don't know exactly what you want, how can you get exactly what you want, right? This principle also applies to the world of do-it-yourself marketing… Big-time. More money is being made in niche markets today than ever before. Plus, the internet makes it easier than ever to go after a specific segment of the population, making it a win/win situation!
So, how do you get started targeting a niche market?
As simple as it sounds, punching the right words into Google can be a very powerful way to get started. If you type in a description of your niche and the name of your city, you may be surprised what great information pops up. You can always tweak search terms to get even more specific as well. Keep an eye out for results about local meetings and online forums that pertain to the niche you'd like to sell your products and services to.
Trade shows, events and local chamber meetings are great places to network in person. A helpful website to visit to prep for a trade show is www.tradeshowmarketing.com.
Online communities and social media groups are basically an online equivalent when it comes to meeting the right people. Joining groups that have members in your target niche market is another great method to use.
If you have an advertising budget (even a small one), there are also some very targeted online advertising methods available. You may be surprised how ridiculously specific you can be in targeting a Facebook ad for a reasonable price.
Finding a niche is a great way to make more money. Finding the RIGHT niche and selling to its members effectively is a way to make a steady flow of money. Questions on niches? Post them here!
