Can I become fastlane in a niche market?

[ShadowX]

Can you become fastlane in a niche market such as specific religion, specific type of people, specific sector etc. ?

 

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[DeletedUser394]

Yes?

 

[alexanderkjones]

A niche is a great way to move into the fast lane. One thing you want to think about though is the revenue potential of that niche itself. Here are a few figures you'll want to get a hold of to decide if a niche is right for you:

1) How many people are in the niche. Do some basic market research online. If you can find real numbers, do some sampling. If it's religious how many churches are there in the nearest metropolitan area, call the churches and ask how many people they have in the congregation, scale up the numbers for an estimate of the market in the geo region you're targeting.

2) What portion of the niche will pay the price you want. There will be lots of types of people in your niche. Again, with the religious niche you'll have affluent people and not so affluent people. How many people have the financial means to purchase your product and services?

3) How much will it cost to reach that niche. It costs a lot more to reach 1000 people to buy a $10 product than it does to meet reach 100 people to pitch a $100 product.

You can valuate your niche by taking the number of people who can afford to buy your product, multiply that by how much money you'll make per sale, than subtract how much it will cost to market to them. Just use some assumptions to get a feel for when cash-flow will kick in, it's all an estimate. Just make sure it makes sense to reach your goals.

 

[Vigilante]

No. Um... Yes. Maybe. Yes definately yes. No. Damn. Not sure.

I was thinking about starting a limo referral network. Might be too niche though.

 

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[napier]

Vigilante, I thought you were back in the spider monkey niche?

 

[Vigilante]

Vigilante, I thought you were back in the spider monkey niche?

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