Make a wish list
What type of people do you want to do business with? Identifying your possible business geographic range is as important as defining the type of customers you want your online business to target.
Remember that you need to make contact. So in order to do that, you need to know whom you want to do business with.
Put your focus into it
What do you want to sell? Products or services? If you choose products, what will they be? If you choose services, what will they be?
When you choose a niche, it should be as specific as possible.
You may want to consider your passion. What do you love doing? If you think it will be profitable, then go for it.
What’s important is you know that you’ll love your business.
Apply customer’s perspective
Will your online business get customers? Will they like it?
When you look at the world from your prospective customers’ perspective, you can identify their needs or wants. The best way to do this is to talk to prospective customers and identify their main concerns.
Synthesize
Start synthesizing. Your niche should start to take shape as your ideas and the customer’s needs and wants combine to create something new.
Your niche should be able to conform to your long-term vision.
Evaluate
It’s time to evaluate the niche you decided to use.
Do you think it will generate customers and profits? Do you think it will be a success?
Of course, in choosing your online business, it’s important to consider its success rate. It’s not enough that you depend on your passion alone.
Test-market it
Test market the niche you ended up with. It’s time to see if it will be a hit with your market.
Give people an opportunity to buy your product or service by putting it out there.
This can be done by offering samples, such as a free mini-seminar or a sample copy of your newsletter. What’s important is that the test shouldn’t cost you a lot of money.
Implement
It’s time to implement your idea. Go for it!
For many online marketers, this is the most difficult stage.
Well, fear not: If you did your homework, entering the market will be a calculated risk, not just a gamble.
Want to learn more online marketing tips? Then what are you waiting for?
