According to a recent study, which examined a huge swath of literature on Small and…
How to Make Money in a Small Niche With a Simple Business Model
When it comes to earning money online as a marketer, most people go wrong in exactly the same place. That crucial error? Their ambition.
Unfortunately, too much ambition is very commonly the downfall of many online businesses and marketers which essentially causes them to bite off more than they can chew and then give up too easily. Instead of aiming to become rich or change the world, it makes much more sense to start off small with a small niche. Aim to accomplish something small first and then build on each success to eventually reach the top.
So what might this look like?
The Small Niche Business Model
SmartPassiveIncome.com is a blog owned by internet marketer Pat Flynn which shares his methods for earning money. One of his most successful recent ventures was a website aimed at food trucks. This is a very small niche that made it easy for him to find routes to market (ways to communicate with the target demographic).
Compare this with creating a website in the ‘fitness' niche and you can imagine how much easier it is to get noticed and to reach the right audience.
From here, Pat began making money from selling an eBook aimed at those food trucks that would help them make more money and apply smart business skills.
THIS is the exact same business model that first time internet marketers should be using. You might decide to choose a different niche (sticking with a career is often a good choice though) and you may decide you'd rather sell an affiliate item. The general model though is almost flawless for the inexperienced marketer.
So what's so good about this small niche business model?
For starters, choosing a small niche to operate in means that you will be able to much more easily get noticed and become a niche authority in that particular niche. If you choose to go the PPC route for instance, you'll pay far less for advertising in this small niche as compared with the amount you'd pay for a bodybuilding or dating related keyword.
At the same time, this helps you to come up with a very clear value proposition and offering. Ideally, your product should set out to solve a very specific problem for a very specific group of people. This will make it much easier to market that product, to promote it and to encourage people to consider buying.