Selecting Profitable Niches

Terry Gibbs interviews Michael Holland

Niche: noun - a distinct segment of a market.

There are opportunities to create a niche on just about anything out there, and there's always going to be this opportunity. If you use some level of creativity and imagination, you can compete in so many different markets, it's not even funny. There are just many thousands and thousands of niches.

Focusing on a niche, rather than a specific product, makes it easier to address your audience, it makes it easier to build relationships because your dealing with the same people over and over again.

Focusing in a niche also makes product selection easier because you learn what offers result in better sales. Focusing on a niche also increases your audience's trust in you. By explaining different aspects of the topic that binds them together, you gain their respect and make them more likely to buy from you.

In this interview, Michael and I talked about the items below:

  • How do I identify groups of people who want to purchase items?
  • Why dealing with a group of people (A Niche) is more profitable than dealing with a group of products.
  • How do I narrow my focus so I get more sales?
  • How do I find the best niches to target?
  • How to use "niche erosion" to increase your sales.
  • How confusing your interests with your target's interest can cost you money.
  • Why you must make sure there are competitors in the niche before you move forward is absolutely required.
  • How to research a niche to become positive you can make money.
  • The one thing you must find in your research to insure the niche is profitable.
  • And much more. . .

After reading this interview you will start thinking of yourself as a seller to groups of people rather than as a seller of a group of products. This change in attitude will result in higher sales because you'll find it easier to match products to people.

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