Most of the time, my ideas are a few years late - I guess I am just a dumbass. This means, I can never be a pioneer, and start out is something that has not exploded into a giant crazy yet. Anyway, I guess with time, I will learn how to think mor outside the box. For now, I feel I can only enter niches that are very popular. So lets say I like the niche, and have plans of making a website. How do make my site compete with the thousands of sites out there that are already well established? Thanks
Niche means targetting an untapped portion of the market. There may be some needs which are not met by the big boys so you do have a fighting chance. I mean like in my case, when I started my business developing Batch Image Processor softwares, I was up with the big boys of Adobe and Photoshop. But at the time when I started, those boys' tools was just used for individual image editing but when you use a digital camera, you probably land up with hundreds if not thousands of photographs at one go. I jumped on the bandwagon and did a batch imaging tool, it may not be superior to what the big boys' software does and I do not plan to compete with them but rather complement them. I made a living out of this, of course I am still no way near where they are today but I survive. It helps if you are a user in the field you want to tap into. Read posts around and from them you could probably sense what needs to be done to meet their needs. All the best.
Entering an oversatured market is not the best idea.. however if you think you can bring something better and original to what is currently in the market, then go for it... its tough though. And idea: within niches, there are subniches (that are even more specific) any way to find one that you are interested in that is popular as well? You will recieve traffic for the specific niche and general niche.
Hi, Being a pioneer is dangerous to your wealth -- so don't beat yourself up. There are people making money in all kinds of markets that many would consider "saturated". The deeper you go into a market the less you'll need to educate the market, the less money you'll have to spend building your business and the better chance you'll have of building a true customer and fan base. Hope this helps.
Yeah, I often have the opposite problem - a few years too early. If a niche is saturated, move on. There are plenty of ideas ripe for the picking. a Myspace resource site aint one of em (for example) BP
It really depends on what you are doing. People looking to lose weight is a saturated niche. However, even newbies can make money in that niche. Now if you are tryng to set up something like an auction site your going to have a much tougher go at it. Stavra
You could instead look at targeting a more focused niche within this saturated market. For example, if your were to open a fashion wear site, rather than selling lots of styles of clothes for anyone and everyone, just focus on selling (for example) 'urban' clothing to men in the age range of 13-27. To further focus the niche, maybe target a particular locality (country, area of a country), or perhaps consider only targeting a certain type of clothing, e.g. shoes. By focusing your marketing, you'll find it a lot easier to advertise as you'll know your target audience profile, you'll know where to find them and know exactly how to tailor your marketing and sales copy to appeal to them personally.
Being a pioneer is great, but, as mentioned, it will cost you a lot of money. As to an over-saturated market, there's nothing too wrong with entering it if you know what you're doing. Sometimes there's a good amount of money to be had in an established market. Is there a way to specialize in that market? For instance, let's say you wanted to make an information Web site on marketing (talk about saturation). Instead, perhaps you can make an information Web site about how to market a Web site geared towards model train enthusiasts. A niche is a sub-market or a specialization. It doesn't mean finding something that no one is participating in. To take it a step further, a niche would be a market that's not being focused on by a large portion of the general market. So, the train example is how to carve out a niche. However, you could drill down further--how to email market for Web sites geared towards Lionel model train engine enthusiasts. Many people confuse big business with small business. It might be unwise for say P&G to get into a highly saturated market segment, but Joe Webmaster might be just fine. I'm not saying to jump right in, but it's not black and white.
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