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Deciding the niche, some things you need to address

by DavidGWelch
3 replies
Niche market


Especially when launching a start-up you should not be afraid of the fact that there are other companies in your market when you talk to investors. The fact that you have competitors proves that you are not the only one who considers that it is potentially an attractive business. An investor is going to turn back the fact that an entrepreneur tells him that he is the only one exploiting a market, with the potential of billions of euros. Its unlikely, is not it?


So we have two ways of dealing with the issue of the competitive situation:


Market niche with little competition
The advantages of a niche market with reduced dimensions can be the absence of a large number of competitors. In niches you have the possibility to dominate and act from a position of leader.


The big challenge is to overcome the barriers in the form of the market size. In this case what you can do is, to take actions to increase your target audience.

It can be a good position for a company that does not have great ambitions to grow and does not want to waste its resources in fighting against competitors. Even though it seems surprising to you but there are entrepreneurs with this philosophy and it is not necessarily a bad thing to want to make a living by being a little more relaxed (whenever you can, of course).


Great market with lots of competition
These are the traditional lifelong consumer markets. The key is to differentiate yourself from the rest so as not to look like one of the pile. Marketing plays a fundamental role because differences in functionality may disappear in some segments or are so minimal that they are not perceived.


It is a market where you have to move continuously. A leadership to this day does not guarantee you to remain in that position tomorrow. You have to break your head to be in the users heads when making a purchase decision. It is a complex game in which there is much to gain and much to lose.

Needs in a market can be created from scratch but it requires consumer education. The sales cycle is much longer. You risk that what is sown for a time does not pay off and then the income never comes. The decision is not obvious.

What do you think? would you rather work in a niche with no competition? Or in a niche with lots of competitors?
#address #deciding #niche #things
  • Profile picture of the author savidge4
    This "Article" is shallow at best..at best... making considerations for a already engaged marketspace vs a new plausible marketspace is somewhere in with the least of your worries when considering a business / opportunity.

    I personally do not think that there is such a thing as a niche that money can not be made. it comes down to the ability to connect with those in any given niche to buy from you.

    A strategy I have been using for YEARS is finding micro niches within a niche base that is "Saturated". finding that little ( and in cases not so little ) topic that gets you in the door for greater niche potential down the road. WordPress and WooCommerce are great examples of these kinds of niches. Both are saturated niches, but if you were to focus your efforts specifically on a particular theme within that niche, you can without question reach into a explosive sub market that with time allows you to expand into the primary niche target.

    The same is true in most any business venture... think bakery.. saturated offline niche no? then where the heck did all of these Cupcake shops come from? And then look at the more established cupcake places today.. do they just sell cupcakes? not the ones I live near... they are now bakeries for all intensive purposes.

    Focus on the micro.. and have the game plan to expand and grow within the niche you are serving.

    Originally Posted by DavidGWelch View Post

    Niche market


    Especially when launching a start-up you should not be afraid of the fact that there are other companies in your market when you talk to investors. The fact that you have competitors proves that you are not the only one who considers that it is potentially an attractive business. An investor is going to turn back the fact that an entrepreneur tells him that he is the only one exploiting a market, with the potential of billions of euros. Its unlikely, is not it?


    So we have two ways of dealing with the issue of the competitive situation:


    Market niche with little competition
    The advantages of a niche market with reduced dimensions can be the absence of a large number of competitors. In niches you have the possibility to dominate and act from a position of leader.


    The big challenge is to overcome the barriers in the form of the market size. In this case what you can do is, to take actions to increase your target audience.

    It can be a good position for a company that does not have great ambitions to grow and does not want to waste its resources in fighting against competitors. Even though it seems surprising to you but there are entrepreneurs with this philosophy and it is not necessarily a bad thing to want to make a living by being a little more relaxed (whenever you can, of course).


    Great market with lots of competition
    These are the traditional lifelong consumer markets. The key is to differentiate yourself from the rest so as not to look like one of the pile. Marketing plays a fundamental role because differences in functionality may disappear in some segments or are so minimal that they are not perceived.


    It is a market where you have to move continuously. A leadership to this day does not guarantee you to remain in that position tomorrow. You have to break your head to be in the users heads when making a purchase decision. It is a complex game in which there is much to gain and much to lose.

    Needs in a market can be created from scratch but it requires consumer education. The sales cycle is much longer. You risk that what is sown for a time does not pay off and then the income never comes. The decision is not obvious.

    What do you think? would you rather work in a niche with no competition? Or in a niche with lots of competitors?
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    Success is an ACT not an idea
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  • Profile picture of the author DABK
    Based on the article, what I think will blow your mind. Seeing I'm in a good mood, I'll let you keep your mind.

    Originally Posted by DavidGWelch View Post

    Niche market


    Especially when launching a start-up you should not be afraid of the fact that there are other companies in your market when you talk to investors. The fact that you have competitors proves that you are not the only one who considers that it is potentially an attractive business. An investor is going to turn back the fact that an entrepreneur tells him that he is the only one exploiting a market, with the potential of billions of euros. Its unlikely, is not it?


    So we have two ways of dealing with the issue of the competitive situation:


    Market niche with little competition
    The advantages of a niche market with reduced dimensions can be the absence of a large number of competitors. In niches you have the possibility to dominate and act from a position of leader.


    The big challenge is to overcome the barriers in the form of the market size. In this case what you can do is, to take actions to increase your target audience.

    It can be a good position for a company that does not have great ambitions to grow and does not want to waste its resources in fighting against competitors. Even though it seems surprising to you but there are entrepreneurs with this philosophy and it is not necessarily a bad thing to want to make a living by being a little more relaxed (whenever you can, of course).


    Great market with lots of competition
    These are the traditional lifelong consumer markets. The key is to differentiate yourself from the rest so as not to look like one of the pile. Marketing plays a fundamental role because differences in functionality may disappear in some segments or are so minimal that they are not perceived.


    It is a market where you have to move continuously. A leadership to this day does not guarantee you to remain in that position tomorrow. You have to break your head to be in the users heads when making a purchase decision. It is a complex game in which there is much to gain and much to lose.

    Needs in a market can be created from scratch but it requires consumer education. The sales cycle is much longer. You risk that what is sown for a time does not pay off and then the income never comes. The decision is not obvious.

    What do you think? would you rather work in a niche with no competition? Or in a niche with lots of competitors?
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  • Profile picture of the author Robert Bridgen
    The niche you go into should be a niche you like. Must be ever green. You must also know something about the niche or willing to learn Do not jump from one niche to another Robert
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    http://robertbridgen.com/reviews
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