When it comes to making money online as a marketer, many individuals stumble at the same hurdle: their excessive ambition. This tendency often leads to the downfall of numerous online ventures and marketers, as they tend to take on more than they can handle and give up prematurely.
Instead of aiming for immense wealth or aiming to revolutionize an entire industry, starting small is a much more practical approach.
Setting achievable goals and building upon each success gradually leads to significant accomplishments.
So, what does this strategy entail?
The Small Niche Business Model
Pat Flynn, the owner of SmartPassiveIncome.com, a blog sharing money-making strategies, exemplifies this model with his successful venture into the food truck niche. By targeting a small and specific market, he found it easier to establish effective communication channels with the target audience.
Contrast this with attempting to launch a website in the highly competitive ‘fitness’ niche, and the benefits of targeting a smaller niche become evident. With a niche like food trucks, it’s simpler to gain visibility and connect with the right audience.
From there, Pat monetized his venture by selling an eBook tailored to food truck owners, providing valuable insights and business strategies.
This same business model is highly suitable for novice internet marketers. While you might choose a different niche, sticking with a specialized field often yields favorable results.
You might also opt to sell affiliate products instead of creating your own, but the underlying model remains effective for inexperienced marketers.
Why It Works
What makes this business model so effective?
Firstly, operating within a small niche increases your visibility. If you decide to utilize pay-per-click advertising, for instance, you’ll find that advertising costs are significantly lower compared to targeting broader niches like bodybuilding or dating.
Furthermore, focusing on a specific niche allows you to craft a clear and compelling value proposition. Your product or service should address a specific problem within a distinct group of people. This focused approach simplifies marketing efforts, making it easier to promote and sell your product.
To become an EXPERT in your market, you need to follow a 7-stage process, all of which will be revealed during this intensive one-day training course. https://www.wignaledwards.com/become-expert-niche/