Sell Shovels Or Dig For Gold?
Sorry, but only one choice is allowed.
This is not a trick question. Its purpose is to tell what kind of business person are you.
If your answer was to sell shovels to many people, it means you are practical, patient, and prefer to grow your business slowly. You prefer taking smaller leaps to gain success. You see the trees before the forest. Therefore, security is very important to you. And you would have made a ton of money. This makes you the wiser one.
If your answer was to dig for gold, you are a dreamer, adventurer, and prefer the get-rich-quick approach to making money. Its either win all or lose all. You rather take large leaps to excel your business quickly, which means taking risks. You lack patience and you see the forest before the trees. If you strike it rich, only then will you be the wiser one.
Any and all comments are welcomed.
I am sick of all these saturated niche markets it seems like if there was ever a niche market or any way to make money at all it has been exploited to the max.
Before you jump on ‘Baby Boomers’, understand there is a 19 year gap in their ages. Not all of them listened to the same music, had the same point of reference as young adults nor are all of them ‘wealthy, highly educated and own their own homes’. Just to keep reality in check,
Now, niches. Understand what a ‘niche’ really is: A small group of a larger group that shares something in common. Outdoor Sports ->Basketball->Pickup Basketball is the niche.
Find a group and then take it to it’s lowest common denominators: Working mothers is not a niche. Working mothers with teen age kids is a sub-niche. Working mothers with teen age kids in karate, is a niche.
Smaller group, more specific and more lucrative because you don’t have to convince them who your product or service is for, you’ve targeted them specifically.
Here’s an idea – go offline. What are people doing that aren’t really fascinated by the internet? Do they golf? Are they under 40 golfers? Are they women golfers under 40? Are they women golfers under 40 who play in tournaments? Get the idea.
There are many ‘niches’ but if you’re just focusing on what the internet crowd has to offer, you’re leaving serious money on the table. Go for a tiny (10,000 to 100,000) niche of people who are living their lives without the internet being a big part of it.
Good hunting!