Internet marketers all seem to agree on three things;  building a list (vital to long-term success), staying focused (crucial),  and finding your market niche (very important)!

What is a Niche?

“A niche is a small but profitable segment of a market, suitable for focused attention by a marketer. Market niches do not exist by themselves, but are created by identifying needs or wants not being addressed by competitors, then offering products that satisfies them.” (According to Business Dictionary)

Why is it important to find my niche??

Finding a particular field or a segment of a market is much better than trying the “shotgun” approach. (Don’t know what a shotgun is? Google it!)

The “shotgun” approach is shooting in a general area, hoping to hit something. You end up spending more money and more time and effort.

Initially, you want to be profitable and making money as soon as possible. And, by narrowing down your scope, and focusing on a specialized area, you’ll be on your way quicker and easier to profitability. This is especially true when your niche is one in which you are already familiar.

Finding your Niche has a lot to do with knowing what your passion is.

What type or kind of products and services are you passionate about? Do you have a hobby you enjoy? Do you have something you teach or can teach, that others would be willing to pay you money for? What is your occupational or professional background? Can you find products and services fitting within your profession which could help others?

Here’s how you find your Niche.

List everything you do.

2. Identify your high value services, (your professional skills, abilities, education, character qualities, work and career)

3. Identify the problems in your market or world. Ask why! Why do people request my skills or services? If you are trying to break into a niche – what are people looking for and why do they want it?

Once you identify your niche, identify your target client.

5. Refine and iterate; keep doing what works.

Choosing the right niche for you can be drawn from your past experiences, training, education or career choices.

Choosing the right niche may come from making a conscience decision to become an expert in an area or field which interests you. You may have no experience or education in this niche, but you begin to read and learn everything you can about it.

In the process you become the expert, you become the go-to person, you become someone other people will want to learn from and are willing to pay you for your knowledge.

Conclusion

If you have any questions or comments about this short tutorial and guide, please contact me: walter@walternigh.com.

I’m interested in your feedback about what you have learned in this guide.

If you have gained some value from this series, and would like to go more indepth with online marketing, please check out my signature training program:

“FIRST STEPS ONLINE” has more than 20 modules which will take you step-by-step through building an online business using the three methods touched on in this series.

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