26 May 2010, by A. Cedilla
Hitting the right niche is only the start. There’s a connection between understanding the context and importance of the niche, and using this understanding to up your likelihood of succeeding — and more importantly — staying in business.
Here are a few observations we’ve amassed on how to recognize and use niches to increase the odds of success in your business’s favor.
Niches are the only way to survive in online business. You can’t be all things to all people, that’s an unrealistic and downright dumb goal to aspire to. You’d burn out trying. Actually, you’d be setting yourself up to crash and burn.
For example, think of Amazon. Amazon sells practically everything that can be sold (legally) online but Amazon is not its merchandise.
From its start as an on-line bookstore, Amazon went on to become the world’s biggest on-line retailer, dominating its niche. Think of more popular names. eBay. YouTube. Google. What niches do these brands occupy?
Continue reading Nichification And Your Chances of Success