Choosing a Rewarding Niche

CHOOSING a rewarding niche means locating a requirement that has not been widely served on to a large degree.

You will need to identify a group (niche) of people who have a very particular interest that is under served, and discover a way to serve that target audience with the products and services they require.  Your business strategy should certainly serve an area that is in very low supply, but very high in demand amongst a notably specific group of people.

Do not opt for a general area where you will be with primary companies for a mass audience.  Your plan should be to uncover a very distinct target audience that is underserved by the general market.

For example, if you are interested in selling video game goods, you may want to restrict that niche to a specific video game genre, or even a specific game collection.

Tightening your niche as much as you can simplifies your efforts to market your products and services, because it will allow you to aim on a target audience that shares a similar interest.

I would be interested to know what your views are here.

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