Finding Your Niche Talk (Part 1 of 3)

                               Part 1 of 3
This is a transcribed part of a seminar at which I taught on internet marketing.
I broke it down in three parts so that it's easier to read for you.

Hello, today I want to talk about finding your niche.

And this is really an important subject, because so many people overlook this. But it can make or break your business. You see, if you try to build a business and chose the wrong niche, there’s nothing that you can do to make money. Even if you have the perfect sales copy, even if you hire a million-dollar copywriter, even if you get unlimited amount of free traffic to your website, even if you have the best looking website by the most professional graphic designers in the world, even if you have the best product in the world, nothing of that will change your fate. If you have picked the wrong niche, then your faith is failure.

I have another word for a wrong niche. And that is: zero dollar niche.

Because there’s no money to be made in niche that has no potential to be profitable.

There are some niches where people have a high interest in the topic, but they are just not willing to spend money on it. Sometimes they are not able to spend money in. For example, many college students have lots of interest in different things, but in most cases, unless you have a very specific offer, it is not a good idea to market to college students, because they don’t have money to spend in most cases. There are some big companies that can afford to market the college students, because of the long-term value that a college student provides them with if they get their contact information and if they can put them in their customer database. But this is very advanced marketing.

Here what we want to look at is how the beginning marketer can start to make money really fast online. And that has a whole lot to do with selecting the right niche.

If you select the right niche, then even if your sales copy is so-so, even if it’s hard for you to generate lots of traffic, even if you’re website looks crappy, and even if your product is mediocre, you can absolutely start to make money. Just because you have chosen the right niche.

Let me give you an example. I’m kind of stealing here from the great marketing legend Gary Halbert. Gary Halbert used to say that what you want to look for is a starving crowd.

For example, let’s say you’re selling water. There’s nothing special about the water that you sell. The bottle doesn’t even look nice. In fact, you can go to any store and get a better looking bottle than the bottle that you have. And the water isn’t also some kind of high quality luxury water. In fact it’s just tap water.

Do you think you would sell a lot of that tap water in a plain bottle?

In fact, I tell you the uke would make a lot of money with that water. But you have to offer it to the right people. You have to find the right niche. In that case, if you offer them plain tap water and the boring bottle to someone was really thirsty, and there is no stall in the area where they can buy water, they will buy.

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