What Is Your Niche! Starting Your Internet Business Online (Part Two) If You Haven’t read (Part One) I recommend you Click Here ! Since you are here you obviously have decided that you want to start your own Online Business, I say welcome! Lets get going. You have made the first step already now let us dig a little deeper . I know you are all hyped and ready to get started right? That’s a good thing . But remember what we discussed in Starting Your Internet Business Online ! Anyone can start an online business , Our goal is starting a successful online business ! This takes a few more decisions on your part. There are a few more Questions you should ask yourself.(1) What type of business would you like to start? (2) Do you have or do you need products to sell? (3) What do you have for capitol ? If you are like the majority of us the third one is a hard one to swallow ! Even the rich want to make money with as little investment as possible. Well you know how they say ! You Get What You Pay For ! Well rest your mind a little bit ! That Is not necessarily true In the Online Business world . As we discussed in part one you can spend a lot of money and get nowhere if you are not careful. When deciding what type of online business to start the first step is deciding what type of business you want ! In the Internet Business World this is called finding your niche! There are many things that you need to ask yourself before making this decision! (1) What inspires you ? (2) What are your hobbies? (3) What are you good at? (4) Do you have help & support in this endeavor ? Or are you starting this alone like many of us? If you were like me my first big question was ! What Is A Niche? So here you have it!! A niche market is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.
Every single product that is on sale can be defined by its niche market. As of special note, the products aimed at a wide demographic audience, with the resulting low price (due to price elasticity of demand), are said to belong to the mainstream niche—in practice referred to only as mainstream or of high demand. Narrower demographics lead to elevated prices due to the same principle. So to speak, the Niche Market is the highly specialized market that tries to survive among the competition from numerous super companies.
In practice, product vendors and trade businesses are commonly referred as mainstream providers or narrow demographics niche market providers (colloquially shortened to just niche market providers). Small capital providers usually opt for a niche market with narrow demographics as a measure of increasing their gain margins.
Nevertheless, the final product quality (low or high) is not dependent on the price elasticity of demand; it is associated more with the specific needs that the product is aimed at satisfy and in some cases with brand recognition with which the vendor wants to be associated (e.g., prestige, practicability, money saving, expensiveness, planet environment conscience, power, &c.).
Now take some time read this carefully,Write down your ideas , Get ideas from those close to you! Make the decision , What kind of Online business are you going to start ? Do some browsing around other Internet businesses! BUT DO NOT SIGN UP FOR ANYTHING YET ! Remember as I said in part one ! The key to starting a successful Internet Business Online is ! Education, Dedication, Research & many long hours unless you are a computer guru or have really deep pockets. There are many opportunities out there that are free or of little cost to help you get started . So slow your roll! Do your research . Don’t make the same mistakes I have in the past . Remember our goal is a Successful Online Business ! Anyone can start a Internet Business. But our goal is success! In other words lets not try to sell ice cubes to Eskimos! I want to thank you for visiting The Fortune Saver . I hope I have been helpful so far , Please remember to leave your comments & share us with friends & others. I know this may seem like a slow start to you ! But I am doing that on purpose ! Remember the race between the tortoise and the hare ? THE TORTOISE WON! Part (3) will be coming up shortly so don’t forget to subscribe to our website Pretty soon you will have plenty to do ! Don’t worry about that ! Make the right decisions and you will have Online Business Success ! Thanks , David @ The Fortune Saver!