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Do You Follow The Money???

by Mini Michael
21 replies
Hi
Here we go. I've been hanging around the forum for afew weeks now, asking stupid newbie like questions, putting my nose in where it didn't belong etc. etc.
The result is I think I'm ready to take the plunge, the one thing I'm not to sure on is:

DO I FOLLOW THE MONEY! OR LOOK FOR A LESS COMPETITIVE NICHE.

The more I surf round the more I find "gurus" recommending people to follow the money, then slap my behind another "guru" telling people to find a nice little niche.
I decided, this was the place to find out once and for all.
So here I am, hopefully, ready to build my first blog site, what would you guys & gals recommend?

Cheers Mick.
#follow #money #niche
  • Profile picture of the author x3xsolxdierx3x
    Mini Michael,

    You take a very thoughtful, planned out approach as a result of data you receive from a product/service like Market Samurai. You CAN compete, but you HAVE to know what exactly it is that you need to do to compete, plus, you must know the composition, strengths, and flaws of your enemy. Ever read Sun Tzu's "The Art of War"?

    I would highly recommend reading that, and make an investment into Market Samurai.

    Originally Posted by Mini Michael View Post

    Hi
    Here we go. I've been hanging around the forum for afew weeks now, asking stupid newbie like questions, putting my nose in where it didn't belong etc. etc.
    The result is I think I'm ready to take the plunge, the one thing I'm not to sure on is:

    DO I FOLLOW THE MONEY! OR LOOK FOR A LESS COMPETITIVE NICHE.

    The more I surf round the more I find "gurus" recommending people to follow the money, then slap my behind another "guru" telling people to find a nice little niche.
    I decided, this was the place to find out once and for all.
    So here I am, hopefully, ready to build my first blog site, what would you guys & gals recommend?

    Cheers Mick.
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  • Profile picture of the author nongnut36
    The easiest way is to be an affilate then you can pick and choose. I look for product which I think will sell and have good product and websites. Then it's all about promoting in the right places which I am slowly getting to grips with. Thanks
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    • Profile picture of the author Mini Michael
      Originally Posted by nongnut36 View Post

      The easiest way is to be an affilate then you can pick and choose. I look for product which I think will sell and have good product and websites. Then it's all about promoting in the right places which I am slowly getting to grips with. Thanks
      Glad you're managing to get to grips with it all. It's certainly a steep learning curve.

      THANKS MICK
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      • Profile picture of the author Fun to Write
        What they mean is pick a niche that people are already making money in - a lucrative niche where there are plenty of buyers.

        But consider that where there are buyers, there's also lots of competition for those buyers. So, you've got to figure out how you're going to appeal to people in that niche so that they buy from you instead of your competition.
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        Focus+Smart Work+Persistence=Success

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        • Profile picture of the author Mini Michael
          Originally Posted by Fun to Write View Post

          What they mean is pick a niche that people are already making money in - a lucrative niche where there are plenty of buyers.

          But consider that where there are buyers, there's also lots of competition for those buyers. So, you've got to figure out how you're going to appeal to people in that niche so that they buy from you instead of your competition.
          Lots of words of wisdom being layed down here. My old retired grey brain cells are begining to scream enough, enough as the learning curve just gets steeper and steeper.

          THANKS MICK.
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  • Profile picture of the author snowboarder1971
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    • Profile picture of the author Mini Michael
      Originally Posted by snowboarder1971 View Post

      Well, I would recommend to find a little niche because if you just start you will buried i a second because competition is pretty high where money is. later on when you get some experience you go for the money!
      Thanks

      Thats what I was thinking to myself, but these so called three quid (dollar) "gurus" do get you thinking if nothing else.

      THANKS MICK
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  • Profile picture of the author Anonymous Affiliate
    Neither. Busy vs. non busy niches... the question it's irrelevant.

    The question you should be answering is: What niche do I have something to offer to?

    Regardless of whether it's a multi-million niche or a quiet underground niche, the ONLY way to make money off a niche is to have something useful, genuine, interesting or unique to offer to them. That's why I always advise newbies to start in niches they're familiar and/or passionate about.
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    • Profile picture of the author Mini Michael
      Originally Posted by Anonymous Affiliate View Post

      Neither. Busy vs. non busy niches... the question it's irrelevant.

      The question you should be answering is: What niche do I have something to offer to?

      Regardless of whether it's a multi-million niche or a quiet underground niche, the ONLY way to make money off a niche is to have something useful, genuine, interesting or unique to offer to them. That's why I always advise newbies to start in niches they're familiar and/or passionate about.
      I suppose I'm like alot of "newbies " the things we love and know about seem to be either very competitive or saturated. I do see what you are saying though.

      THANKS MICK
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      • Profile picture of the author x3xsolxdierx3x
        Originally Posted by Mini Michael View Post

        I suppose I'm like alot of "newbies " the things we love and know about seem to be either very competitive or saturated. I do see what you are saying though.

        THANKS MICK
        Michael,

        A classic example from my personal life: I am VERY knowledgable when it comes to all things military, to include products/tactical equipment/etc. Unfortunately, I found it VERY difficult to establish a company, especially considering the monumental amount of competition birthed as a result of 9/11, increased military deployments, etc. I'm not saying that it was impossible to have success....i did quite a few sales because I applied some good marketing....unfortunately, I hit a cross-roads where I had to decide whether or not it was "worth" it to continue. It doesn't mean I gave up....each entrepreneur SHOULD be engaging in a constant and continual serious of evaluation and re-evaluation of projects and pursuits.

        When what you LOVE aligns with something that is profitable, go for it!, but don't inherently limit yourself. Entrepreneurs can LEARN to love things.....perhaps you could start by writing about what you are passionate about, and, then gradually expanding into new semi-related areas?
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        • Profile picture of the author Mini Michael
          Originally Posted by x3xsolxdierx3x View Post

          Michael,

          A classic example from my personal life: I am VERY knowledgable when it comes to all things military, to include products/tactical equipment/etc. Unfortunately, I found it VERY difficult to establish a company, especially considering the monumental amount of competition birthed as a result of 9/11, increased military deployments, etc. I'm not saying that it was impossible to have success....i did quite a few sales because I applied some good marketing....unfortunately, I hit a cross-roads where I had to decide whether or not it was "worth" it to continue. It doesn't mean I gave up....each entrepreneur SHOULD be engaging in a constant and continual serious of evaluation and re-evaluation of projects and pursuits.

          When what you LOVE aligns with something that is profitable, go for it!, but don't inherently limit yourself. Entrepreneurs can LEARN to love things.....perhaps you could start by writing about what you are passionate about, and, then gradually expanding into new semi-related areas?
          WOW!...I can see there is some really talented competion out there.
          I'm going to have to kick my retired backside into gear.

          THANKS MICK.
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          • Profile picture of the author x3xsolxdierx3x
            Originally Posted by Mini Michael View Post

            WOW!...I can see there is some really talented competion out there.
            I'm going to have to kick my retired backside into gear.

            THANKS MICK.
            Mick,

            I would strongly consider spending maybe an afternoon watching these tutorials and taking notes:

            Noble Samurai - Dojo

            You'd have to decide for yourself it is worth your purchase, however, MS will give you the tools you need to cut to the heart of your competition. Granted, you CAN find flaws and deficiencies in your competition, however it may be beyond your ability or means to effectively engage them. For example, if all top-10 spots on the first page of Google are crowded by sites that are highly optimized, with thousands of quality backlinks....even with a ton of passion and drive, you will have to pick your battles cautiously....
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            • Profile picture of the author Mini Michael
              [QUOTE=x3xsolxdierx3x;2356397]Mick,

              I would strongly consider spending maybe an afternoon watching these tutorials and taking notes:

              Noble Samurai - Dojo

              You'd have to decide for yourself it is worth your purchase, however, MS will give you the tools you need to cut to the heart of your competition. Granted, you CAN find flaws and deficiencies in your competition, however it may be beyond your ability or means to effectively engage them. For example, if all top-10 spots on the first page of Google are crowded by sites that are highly optimized, with thousands of quality backlinks....even with a ton of passion and drive, you will have to pick your battles cautiously....[/QUOT

              Yea think I'm begining to understand that.

              THANKS AGAIN MICK.
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      • Profile picture of the author x3xsolxdierx3x
        Originally Posted by Mini Michael View Post

        I suppose I'm like alot of "newbies " the things we love and know about seem to be either very competitive or saturated. I do see what you are saying though.

        THANKS MICK
        Also...this is exactly why I would highly recommend Market Samurai.

        You may have 'competition' that you perceive to be a serious threat....even big name players in an industry....however, they can't be everywhere at once. If you research a bit more, you may find that it is well within your power and capability to overcome them. Like I said, really analyze and learn their strengths and weaknesses. You will find that, even a site that ranks #1 in Google may have poor SEO, and alot of deficiencies that you, yourself, can address effectively.

        Before they know it, you'll sneak up behind them stealthy and steal away their market share and influence.
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        • Profile picture of the author Mini Michael
          Originally Posted by x3xsolxdierx3x View Post

          Also...this is exactly why I would highly recommend Market Samurai.

          You may have 'competition' that you perceive to be a serious threat....even big name players in an industry....however, they can't be everywhere at once. If you research a bit more, you may find that it is well within your power and capability to overcome them. Like I said, really analyze and learn their strengths and weaknesses. You will find that, even a site that ranks #1 in Google may have poor SEO, and alot of deficiencies that you, yourself, can address effectively.

          Before they know it, you'll sneak up behind them stealthy and steal away their market share and influence.
          Haa that'll be the military training.
          BTW served 10 yrs myself many moons ago.

          THANKS MICK.
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          • Profile picture of the author Alexa Smith
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            • Profile picture of the author Mini Michael
              THANKS ALEXA
              Got what your saying.
              Cheers Mick
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  • Profile picture of the author MassiveMarketer
    I'd say go for a niche that you think you'd do well in. If you're just starting in IM, might as well try doing what you know then go for money when you're already familiar and know your ropes around IM. Try investing with what you know for now and go deeper when you have gained more knowledge in the industry.
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