Documenting my own journey into this business, and this step is all about how I’m going about identifying my initial target niche.
There are so many potential niches, as well as potential processes for defining a niche. It’s definitely worth investment some time upfront to figure out rich seams to go after, as well as where you can play and win, and potentially where you have already generated results.
But results you get, the people get them for can be categorised in so many different ways.
This niche selection / creation process should help figure out some of that piece.
Anyway, I have generated a LOT of results for a range of types of business.
The most recent one has been to help grow an SVOD business. So I’m looking at membership sites, subscription businesses, SVODs – to see which pool is the right size etc. for me to position myself in / against.
My hunch: I think it’s going to be online membership sites, with some threshold of monthly revenue or membership size.
This also doubles up nicely with the front-end offer (platform) that I’m intent on building… which is a membership site too 🙂
The idea for that is to take business books focused on entrepreneurship, and restructure the core content of those books in such a way that the core concepts are automatically put into your long-term memory.
Sounds pretty cool, don’t you think?!
That’s because it is.
Checked to see that there is an ecosystem for membership sites / subscription services.
The whole internet is becoming it.
There is an event in Newcastle dedicated to membership site owners.
This event is sold out. Which is a good indication that the membership niche is HOT
The volume of searches is also important.
But not essential.
Ideally want 10k’s of searches per month in the US.
And it’s always worth remembering this:
Ok. So, now I’ve run through a whole set of potential labels for niches… and tried to whittle it down…
I created over 2,500 potential niches to go after / to list as…
And plucked these few together, based on both Keyword research & also from looking at how I would categorise my current clients. Here be they:
Now digging into the various spaces…
– Subscription businesses
Can test against each of these spaces.
But for now, go for SVODs (could also call them OTTs).
Now to create the most badass content for growth of mission-driven, niche SVODs.
Also an indicator of “Subscription Businesses” being a hot niche, today (20190826) I received this message via Linkedin:
Hi Richard, Hope all is good with you? I’ve recently written a new report: ‘How to Run a Profitable Subscription Business that Creates Recurring Revenue on Auto-Pilot’ I started my first subscription programme. It was an audio newsletter called: The Achievers Edge. It produced income for me of £3,042,000 over 13 years and now my whole business runs on subscription. So if you’ve ever considered creating a subscription programme, I’d like to invite you to download a copy with my compliments. Here’s the link: http://bit.ly/33IO0cu Every success Peter Peter Thomson ‘The UK’s Most Prolific Infomation Product Creator’
A google doc of the content (basically, this is a write up of the step-by-step process I went through to generate an awesome result for a client).