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10 Commandments Of Creating A "Wealth-Producing" Niche!

1 - I can do better 2 - Jury's out 3 - Pretty darn good 4 - Splendiferous 5 - Awesometastic (by 2 people)   Your rating: 1 - I can do better 2 - Jury's out 3 - Pretty darn good 4 - Splendiferous 5 - Awesometastic

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How To Creates A "Wealth-Producing" Niche

 

The fact that the person who finds or creates a special niche, gets the cream of the societies, financial rewards. They don't really care whether they're the richest guy or just another Joe Average. The niche and the person who creates them, is the main factor that separates one product from 15 others. It's shocking at how few books are written on the subject of creating niches. Niches are what all-successful products and services have in common without exception. To out-niche your competitors, you must focus on these "10 commandments" of niche creation at all times. Observe the ones you apply to your business, product, or service and watch your sales soar. The 10 principles of creating niche are as follows(in alphabetical order):

1. "The Principle Of Adaptation" 

"The simplest way to create a new idea is to do what others in another business or industry are doing". Next, see if you can adapt it to your own business, product or service.

StickyNote

"Niches Are like bathrooms;
you never notice one until you need it".

2. "The Principle Of Addition 


Can you add something extra to your product or service that your competition doesn't have or isn't doing?

3. "The Principle Of Combination " 



What positive elements can you combine from another product or service to make yours better? A candy bar did it with simple peanut butter and chocolate and made a successful new product. So can you.

4. "The Principle Of Customisation" 



Can you find little ways to personalize a part of your product or service? That's a quick, easy and cheap way to create niches. Can you make your product or service more personal and less cookie-cutter?

5. "The Principle of Ease And Convenience" 

Find more ways to make your product or service easier and more convenient to buy, use or own.

6. The Principle Of Elimination" 

What negative or inconvenience can you eliminate for your customer, with your product or service?

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7. "The Principle Of Enlargement" 

Do people like your service or product? then it's a sure-fire bet there is a segment of your market that would like even more of it. Can your super-size something?

Niche Business vids 

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8. "The Principle Of Entertainment" 



From cradle to grave, we all have this inner urge to be entertained, amused or fascinated- especially before we spend our money. A relaxed customer spends more. Find little ways to amuse customer before, while or after they buy your product or service.

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9. "The Principle Of Longevity" 

It's making some feature of your product or service last longer. It can also include making a positive experience or feeling last longer. If you can do either, you will have a niche that's hard to match.

10. "The Principle Of Portability" 

People hate to be tied down. So, if your product allows people the freedom to use your product or service in more than one place, that's a powerful niche.

 



By following the above suggestions, you'll be able to create powerful money-making niches. And leave your competition in the dust.

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Junyuan wrote...

This is one great lens on creating a wealth producing niche. The 10 advices you've stated are really very useful. I've given you a 5 star rating for your lens, and added it to my favorites. Great stuff! ;) I've also have a lens setup on how to find red hot, profitable niche markets. Feel free to visit when you're free and let me have your comments. ;) Cheers!

ReplyPosted June 12, 2008

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Marc3ll

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