In Part Four we move onto the fourth of your 9 steps to niche marketing success and cover why you should run a niche business?
This step covers:
- Why do you want a niche marketing business?
- The attitude required to succeed
- Plans to achieve success
- Which approach suits you best?
- Before you start
All the niche ideas and research you undertake will count for little if you haven’t sat down at any stage and worked out exactly why you are doing this niche marketing thing.
Why do you want a niche marketing business and what do you want to achieve with it?
Answering this vital question will unlock for you your goals and dreams which thousands of years of study of the human brain and psyche have proved to be vital in achieving real success.
But what are goals and how do you capture them so that they help rather than become a yellowing list stuck up on a wall somewhere and forgotten?
Without overloading you and turning this guide to niche marketing into a self development course my definition of Goals are the things that make a good positive impact on your future life.
How to capture them so that you can work towards them is easy — you just have to write them down!
When thinking about your goals you need to ensure that your goals cover all aspects of your life — to be successful in a new venture you need goals that will get you there so if your goal is wealth related you need to include discovering new skills in money management, business skills and people skills amongst your ideas.
Well it’s a proven fact that goals are beneficial in all aspects of life as they:
- give you a target or dream to aim for
- help you to focus your available time, money and resources
- give you a direction, a plan to follow
- provide motivation
Alongside your goals you need to think about whether you have or can develop the correct mind set to run a successful niche marketing business.
There’s a lot of jealous media coverage about the ‘idle rich entrepreneur lifestyle’ but little coverage is given to the entrepreneur attitude that was required to reach the success of people like Sir Richard Branson or James Dyson.
In truth after over twenty years of living as an entrepreneur I can confirm that the true lifestyle involves lots of work, planning, decisions, commitment, overcoming obstacles and removing negative thoughts in order to get the rewards.
So when thinking about operating a niche business are YOU:
- happy to spend and invest in your business
- happy to commit your spare time to work and work
- happy to change your life to suit your new business
- happy to seek out new things
- happy to be positive in the face of let downs and adversity
- happy to make and live with decisions on your own
- happy to take action again and again and again
- happy to be patient with friends, family and customers who just won’t get ‘it’
- happy to accept responsibility for what you do
If you can honestly answer ‘YES’ to virtually all of these questions then you have a good chance of success.
When it comes to running your niche marketing business you have choices to make that will affect how your business is run, the face the public sees and how you work in your business.
Expert or publisher?
With a niche marketing business you can choose to become an expert by focusing deeply on a few related niches or become more of a publisher with products and titles spread across a broad range of markets and niches.
Only you can decide which you prefer and of course in the future as your business grows you could decide to be both thanks to your visibility choices.
A visible personality suits if you want to become known as THE expert, the go to person in a specific niche. This star set up suits if you are happy to be in the limelight or if you want to focus on a tight group of related niche markets.
The invisible pseudonym suits if you want to be a publisher of products across a lot of diverse markets or simply don’t want to be in the limelight under your own name. It is perfectly acceptable to publish a product under an assumed name or pseudonym if you want to avoid public knowledge of you.
Working on an invisible basis also suits if your long term plan includes selling some or all of your products or even your business. It’s far easier to sell off a business or product under a brand name with an authors pseudonym than it would be if you made your name the brand.
It’s not hard to come up with a pseudonym or several if you need them. In the past I’ve published books using different author names including Susan Baker, Sabrina Hillman, Greg Luskin, and Mike Knowles in markets where I chose to be anonymous.
Setting up and starting your business is a subject all in itself but it would wrong to exclude from this guide to Niche Marketing a few key suggestions and ideas on starting your new niche marketing venture.
Building your business from scratch is a very exciting and scary time but the process can be made a lot easier and quicker if you sit down first and consider the following key areas:
What are you good at and what experience do you have that you could re-use?
Your Development Needs
What are your biggest skill gaps and what do you need to discover before you can make much progress?
What seed or investment money do you have to put into your new business?
Do you have the right attitude to succeed with your own business? (see above)
What time can you spare in your life to work on your business?
What helping hands can you use to help you with your new business or remove your skills gaps?
Now on to Part Five of your Niche Marketing Course!
In Part Five we’ll move onto the fifth of your 9 steps to niche marketing success and cover using niche marketing in your business. This step covers:
- Focus on a specific group
- Easy to add
- Easy to extend
- Easy to replicate