Before you do anything, one of the most important considerations is to determine your niche and focus. You might think that your knowledge or service is general and applicable to a large audience. It may be true, but if you want to create a successful online business, then this kind of thinking will not serve you well.
The problem is that the Internet is very crowded these days. There are already thousands of lawyers, financial consultants, life coaches, software developers, photographers, yoga coaches…etc.
Unless you are in a very specialized niche market, you may face stiff competition from competitors who are already well-known to your a from competitors already known to your audience. So even though your skills and services may be useful to a broad audience, the trick to building visibility on the Internet is to limit your attention to smaller market segments so that you can stand out from the crowd. In other words, it is best to raise big fish in small ponds. This is called “niche-down”.
By focusing on a more specialized niche, you must also accept that you will not target a wider audience that can benefit from your skills and services. The key is to focus, focus, and focus.
Choose a niche market that is as specific as possible, but not narrower than a market with a large enough monetization market. You will have to consider many issues. Try to find the intersection of your passions and skills, as well as a profitable niche market that is specific enough to differentiate it from a larger, more general market in an increasingly competitive situation.It is important to niche-down enough, particularly before you get huge volume of traffic visiting your website.
For example, you might be a software programmer developing iPhone applications. Although you can sell books and other information products related to this topic, it may be easier to succeed if you narrow down further (for example, iPhone 3D game development). Therefore, you have a greater chance of being seen by others, creating authority and being regarded as an expert by more audiences.
Another advantage of focusing on specific market segments is that you can target the types of customers that best suit you. To sell something, potential customers must first get to know you. Then they can start to like you and finally trust you. If you focus on a narrow niche market, and your product can perfectly fit your customers, it will be easier to create this chain of trust.
Once you have found a unique position in a narrow niche market that fits your skills or services to potential customers, you need to be able to sell products. For many people, selling is a terrible and difficult time. In theory, it is actually very simple.
Since you are rarely able to sell products, potential customers don’t want to buy or have any use, so it’s not worth trying. You will fail almost every time.
Instead, focus on potential customers who already want or need your product. That way, it becomes easier to get the sale. Try to make potential customers understand that the hard decision is not to make a purchase, but that if they don’t make the purchase, their lives will be more difficult. This will be much easier if you focus on a narrow and specialized niche market.