Choosing the Right Niche

[alex90048]

Dear all:
I am between a couple ideas for productized service businesses which I hope can go Fastlane. However, I was wondering if anyone has any knowledge about ways that I could potentially determine if the niche I have choses is viable or not. Some niches are just right, but some are too big or too small or too saturated. Also, in a saturated niche, what is the best way to stand out?

Thank you.

 

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[Shono]

Also, in a saturated niche, what is the best way to stand out?

idk, but i know one thing, it's better to be the highest priced product in the niche than competing with other 'budget-chasers' all the way down to the lowest. People attribute a high price to more value, more customer loyalty, brand image etc.

 

[BizyDad]

Dear all:
I am between a couple ideas for productized service businesses which I hope can go Fastlane. However, I was wondering if anyone has any knowledge about ways that I could potentially determine if the niche I have choses is viable or not. Some niches are just right, but some are too big or too small or too saturated. Also, in a saturated niche, what is the best way to stand out?

Thank you.

What is the problem you are trying to solve?

Which problem are you best at solving?

You stand out by solving problems...

It sounds like you're new at business. I would say start small, the less competition the better.

I know others on the forum would say go for the bigger market. You'll learn how to compete along the way...