Commandment of Control Tactical Question

[mattyice]

I have been working on my fast lane business--an online course--and am wondering how you tactically find out if there's too much saturation in the market. Specifically, what steps do you all take for your R&D as pertains to whether your idea has a good entry point?

 

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[RazorCut]

I am in the process of finishing my online course. I looked at a pain point I had personal experience of and researched to see what solutions were out there. When I found that what was there only went part the way to solving it I became enthralled in solving it for myself after discovering that there was a large demand.

So I think you have to look at what is currently out there and see if you can add value to what is available. It doesn't have to be unique but it has to provide an answer to a need.

Obviously you need to be wary of saturated markets. Those that are the current flavour of the month and markets in decline as you want as long a life-cycle as possible.

I wouldn't worry too much about the size of your market. If there is a strong pain point then there is probably a living to be made by helping people overcome it regardless of the size of the niche. I have read and listened to people being interviewed with what I would regard as tiny specialist niches yet they are selling thousands of dollars of courses a month on the subject. Sometimes tens of thousands. That's the beauty of the internet, it is far reaching.

Research wise I would look at Google key words to find search volumes for your niche. And then specialist forums and relevant Subreddits to discover what you can about the pain point you are trying to help people with.