Niche with Passion and Reap Your Financial Rewards
One of the keys to creating a successful business is finding a market niche that is small enough to corner the market but big enough to make money. Let me tell you about a few people who have done that well, and why it works for them.
Tony Cox, Catalog Solutions: Tony only focuses on small specialty foods catalog companies. He's found a niche that is very profitable and he has developed a national reputation for being able to grow customer lists and improve profitability for these small companies. This works for him because there are plenty of small specialty foods companies that need help, and he is able to significantly make a difference in their return on investment because he knows how to drive more business their way.
Joan Stewart, The Publicity Hound, shares her publicity expertise every week with over 12,000 subscribers. By concentrating on how to get terrific publicity, Joan specializes in something that every small business wants and needs. She has become "the" publicity expert, and is sought after for her public speaking and articles. When companies ask her to write a marketing plan (a complementary need), she refers them to other specialists because doing a marketing plan would take more time for her than the project would be worth. It's not her specialty, so she turns it down.
Annie Jennings of Annie Jennings PR, focuses on book publicity for authors, speakers and experts. Her unusual pay-for-placement method of generating publicity is different than what most publicity firms offer, creating a niche market for her services.
Tom Antion at GreatMarketing.com concentrates on teaching people how to become better speakers and make more money by using creative marketing techniques. Although these same marketing methods would work for anyone, Tom focuses his efforts on speakers who want to improve, which winnows the niche market to a reasonable size. Consequently, when people think of training for speakers, Tom's name often comes up.
None of these folks is in business simply because they can make money at it...although they DO make money. They have the skills, knowledge and passion needed to create a successful business.
How can you find a niche for your business? Take an inventory of all your skills, abilities, interests and passions. Which ones most excite you? What do you LOVE to do? What needs in this marketplace aren't being met? How can you meet those needs?
Remember, you have to have passion about what you do or you'll never get anywhere and you'll be unhappy all the time. So put your passion to work and discover a niche you can make money with in an online business. The smaller and more specialized the market, the better. Focus for profits.
Lois Carter Fay, APR, is a 30-year veteran in the P.R. and marketing field. She now produces three marketing ezines, Brainy Tidbits, Brainy Flash, and Success Secrets of Women Entrepreneurs. All are free. She also offers monthly teleseminars on sales, marketing or publicity topics. Lois is the co-author with Jim Wilson of "Sales Success! Strategies for Women," a quick-to-read ebook containing 52 easy-to-implement sales tips. The ezines, ebook and teleseminars are available through her websites.
Visit http://www.MarketingIdeaShop.com or http://www.WomenMarketing.com to learn more sales and marketing ideas and subscribe. Claim your free special report when you subscribe.
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