In my last post I explained how people think “backwards”
when it comes to starting a business. And this reason
is most responsible for their subsequent failure.
Today I am going to show you how to do it correctly
(At least how I do it). I will show you the formula that
has been proven fool-proof for finding the right niche
for you and what products to offer that people will come
asking to buy them from you.
Have you ever heard of the saying:
“Supply and Demand”?
Well, I like to see this concept a little differently!
“Demand and Supply”!
Which means, find the hidden demand first (problem)
and then supply the solution.
By implementing this strategy, you minimize the hardest
part of doing business; “Selling”
What is better?
To try and “sell” a product to a bunch of people or Let the
people that want your product come and buy it from you?
Here is an example to help you understand this principle:
a) If you stand in the middle of a starving crowd with a loaf
of bread in your hands, people will be begging you to
sell them some bread.
b) But if you have a bread in your hands and walk down the
streets of Hollywood shouting:
“5 cents a slice”
do you think people will buy from you?
You want to position yourself like in example (a) if you
want to guarantee success. And you want to keep that
in mind when you start your research.
First, drop all thoughts and clear your mind of everything
you know about business.
Now think of the general category of a business you would
enjoy working with. If you have a hobby that excites you
it is a good place to start. Even though it is not a requirement
choosing something you are familiar with and you enjoy, will
keep you pushing during hard times to make it work.
General categories can be: gardening, sport cars,
pets, martial arts, parties, etc
Pick something very general that you enjoy working with.
Next you need to find people that share this same interest
and tap into their thoughts and problems to create a more
specialized group of people with similar problems.
No, you will not need any camouflage and wiretaps to find
out what you need.
The internet is a great research tool that allows you to
find everything you need to know, just by using your
computer. The offline and the online world work very
much alike. They offer societies, cultures, groups, communities
and many gathering places for discussions and help requests.
You can find an active group about virtually anything you can
imagine on the internet. You can search for:
Here is some resources to help you find communities and identify
After you find groups related to your main category, you should
start identifying repeated problems these specific groups are facing.
Any question posted on these boards, are potential money makers
One of the easiest way to create an infoproduct and to collect
a number of questions tightly targetted to a specific group,research
and provide answers to those questions, compile the information
to a deliverable format (i.e. ebook) and you are done. Then you go
back and sell it to those people that needed the answers in the
Another thing you need to look at, is the present demand for
the particular niche market you have chosen. And this is fairly
easy to determine on the internet by analysing the volume of
searches a specific keyword receives per month.
Find out if the market you have chosen has a good amount
of searches each month for its main keywords:
I would look for markets with over 25000 searches using
the tool above.
After you determine the niche market and the nature of the
product you are going to create (I will focus on information
products), you can either create the product yourself
or outsource it. You can easily find experts that are willing to
create your product professionally for much cheaper than you
You can go ahead and start your research now. In my next
post I will tell you where to find people to create your products for you
for really cheap and I will tell you how to do it for optimum
Stay Tuned! and dont forget to post a comment if you have a
question or a suggestion related to this topic.
Your Partner in Success,