18 Feb 2008 04:33:49 | Amin Khan
I've already stated the implication of supply/demand in your
business strategy. Now consider if there's absolutely no supply
of any product, but you can identify a human need in an existing
market.
Boy! You just broke the bank.
That's exactly what happened with Amazon.com. That's what
happened with Yahoo. That's what happened with a host of success
stories that has glaring effects on our minds.
Yahoo is perhaps the best example to demonstrate the power of
filling a gap in an existing market. In marketing lingo Yahoo
identified a market niche.
Everybody knows it was a basement startup. But since Yahoo
sensed, anticipated, and then fulfilled a basic need of people
wanting to get exposure through a workable means, it went beyond
success limits.
Yahoo didn't maintain the top 10 or 20 search engine positions
rather it pioneered the search engine directory itself. People
have no choice but to submit their URLs in the Yahoo directory.
By the way, have you heard of Yahoo? Okay! Okay! You got it. :-)
I'm certainly not saying that everybody on the planet posess
the same mindset like Jeff Bezos of Amazon.com, or Tim Koogle of
Yahoo. But as Jim Rohn once said… "Human beings have the
remarkable ability to turn nothing into something. They can turn
weeds into gardens and pennies into fortunes", you can be sure
not to loose hope.
Think about it. Does it make sense to you selling
over-saturated products aimlessly to the masses? Especially when
there exists a cut-throat competition? Look outside the window.
Sometimes if guns don't work, it's always a good idea to make
use of a cannon.
Imagine the tremendous power of identifying a market niche.
Power, that made people phenomenal rich. Power through which
companies like Amazon.com and Yahoo were born.
The good news is that you don't have to worry about any
underlying technical glitches in carving your own niche.
Today's technology makes it super easy for you to put your
business up and running within no time. Yahoo certainly didn't
have this luxury. Yahoo also didn't submit it's URL in any
search engine at the time when it was created.
All you need is a new theme, an idea, or a proposal which sets
*you* apart from the crowd. And amazingly the idea does not and
should not have to be super-duper.
Remember, simple things work best in life.
Now if you're telling me you can't come up with an idea or a
particular concept, you're falling back in the shadows of
darkness. Don't let yourself scared about it.
Do you know on the internet even the craziest ideas with
focused themes have created fortunes. You too can do it. There
are no ifs and buts.
If you think what's stated above make sense, then you would
certainly love to read part II of this article. I'll give you
some best kept secrets, insights, tips and comparisons that will
make you realize the true worth of your imagination.
You will also discover how to make your business stand out from
the crowd using simple real world marketing techniques.
So don't miss it!
About Author :
Amin Khan of http://www.NicheChallenge.com is the active soul
for helping you develop a successful niche based business.
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