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Creating Your Niche In The World.
by William "Wild Bill"
Montgomery of www.MakingProfit.com
Know what business you are in and what product you sell. To have
an edge over your competitors you must know your market, who's going
to buy your product and the strategy you will use to get them to
do so. This will be your Niche In The World.
How to develop your niche may largely depend on the niche you have
already created, knowingly or unknowingly.
Creating, Developing and Nurturing your Niche can be the difference
bewtween failure and success. Your Niche can make you stand head
and shoulders above your competition. It can give you the ability
to corner your own little piece of the consumer world.
Get a "Unique" Niche! Your Niche should allow your propective client
or customer to visualize that they are receiving something special,
something only you can give them in a way that no one else can.
How do you make your Niche stand out above the rest?
Major Market Niches: Service, Quality and Quarantee. These are 3
words to always remember:
1) SERVICE: Consumers, no matter what kind, expect and demand to
be pampered and waited on. Pay attention to their wants and needs,
and fulfill them to the best of your abilities short of effecting
your efficiency to serve others or your "Bottom Line".
2) QUALITY: Poor quality is going to get you two things: Complaints
and no repeat customers. If you expect to spend any time in business,
do yourself a favor; Don't lie to, steal from or cheat your customers.
Provide them with truthful information, honesty & integrity and
the best product you can provide for the price that you set without
effecting your bottom line profit margin.
3) GUARANTEE: In today's world of the "fast buck" rip-off artist,
especially on the internet, people are hesitant to buy anything
without a guarantee. If you want to make sales, make a guarantee,
but don't over do it. Don't make such a ridiculous guarantee, that
can't be believed or will cost you so much that your profit margin
takes a nose dive.
When deciding what your Niche will be, first decide how it will
attract and benefit your customers, and how you will divert them
from patronizing your competitor for first time or repeated sales.
For example, your Niche may also be providing more information and
services in your area than anyone else in the market.
In closing, no matter what your Niche, you will always find someone
else in the same market. Always study your competitors. Approch
them (their site) as you would if you were really a prospective
customer looking for their product. Would you be more likely to
buy from them or from you. Why? Why Not? These are points that you
should be constantly examining, researching and striving to make
better.
William "Wild Bill" Montgomery
http://www.MakingProfit.com
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