It is often said and believed that making money in an already saturated market is equal to a long waged war with the enemy. In a saturated market, the competition is fierce and there will be a TOP 10 player list who will control the majority of that particular niche. This is true for every niche.
In spite of the above Gospel truth, there are netrepreneurs who get into a saturated market and make money in a short time. The first impression obviously is that of surprise. How do they make it? What propels them above the Top 10 cult? And various other questions.
When you take a closer look, you realize that these netrepreneurs achieve the above the average results by simply going behind a niche within the primary niche. If suppose, there is a niche like Video Games, the netrepreneur narrows it to a popular company, say PlayStation 2. He looks at the competition at this level. If all is good, he goes ahead with the execution. If not, he further narrows down within PlayStation 2 filtering until he finds something profitable with low competition.
When I am referring to competition, I am talking about the Search Engine trends. If I were to do a search for Video Games in Google and I get 50 million results, then the competition is fierce. If I narrow down to PlayStation and do a search, and say get 1 million results, then the competition is relatively low.
I wont deny the fact that it isn’t easy to find micro niches. No it isn’t. It involves a lot of research and trend study. There are certain services on the Internet that, upon an upfront fee, can find you your niche market with relatively low competition and reasonable profits. If you can learn how to do this and develop the skills to recognize smaller niches within the primary ones, it is well worth the time and effort. In the long run, this could pay for your retirement and beyond. Most importantly, you could retire early and rich. Many of these micro niches are virtually untapped exposing you to a goldmine. We all know what a gold mine on the Internet is, don’t we?
So, the next time you decide to enter a niche, think of the many hidden nuggets that are waiting for you to tap and make a fortune. Do not get disheartened by looking at the broad picture. Dig deeper and you will definitely find your retirement package.
Next week, I will cover more on how to find the hidden niche markets that have both, low competition as well as high profitability.