Choosing a niche for a business is an unexpected problem for both a new entrepreneur and people who are already doing business. Choosing a business niche directly affects success. If you have taken (are already going) the wrong path, then get ready to constantly overcome difficulties that will appear on the way again and again.
Therefore, approach the choice of a niche consciously: analyze, compare and understand the profitability. It's better than banging your head against the wall and trying to sell a product that no one needs.
Choosing a niche for business - misconceptions and myths
People create barriers for themselves in business. They come up with new products, want to be unique and try to cheat the system.
Some people succeed. But 99% of entrepreneurs with an “innovative” product quickly go out of business.
Less competition - more money!
A common misconception is that you should choose a niche where there is less competition. This is a fundamentally wrong approach. Just a high level of competition indicates that money is flowing in this direction.
Use logical thinking. Would hundreds of people bother with a business that doesn't make money? Obviously not.
This leads to the following misconception - the clients have already been taken away. It is not true. There are always clients.
Select a target audience from billions of people and work for it. The problem is not the number of clients, but the right offer and a well-developed product.
The business idea must be unique
Choosing a niche for a business depends on the uniqueness of the idea - absurd! Quality of service, in-demand product, quick response to market changes, well-structured marketing - these are the basics that will help in developing your business and making money.
Of course it's great if the idea is new. The catch is that it’s harder to promote new things. You essentially have to form a market and instill a culture of product consumption. This requires a lot of money. This point is worth considering.
Clients contacted our agency with new ideas and... 50,000 rubles for promotion. We refused them. Since the amount is small and people simply do not request such a product on the Internet.
if you have new idea, which has been tested on other people, then it’s worth entering the market through the media, plus promotion budgets for at least 1 year in advance. Or find an investor who will make financial investments into the business for a share of the company.
I like the idea, so do others too
It’s great when a person is passionate about an idea and in love with a product. However, here lies the catch. A person believes in his product so much that he forgets about:
- real demand;
- margins and deal cycle;
- calculating the break-even point;
- taking into account market trends and analysis;
- payback period for investments in the project;
- analysis of competitors and target audience.
As a result, choosing the wrong niche for a business can lead to problems and cash gaps. The scary thing is that the entrepreneur blames himself for the lack of “entrepreneurial spirit”, for not being smart enough, etc.
Stress, despondency, business closure and... leaving for hired work begin. Although the only thing that had to be done was to calmly analyze the niche.
Make a list of at least 100 niches that you like and analyze each of them according to the following criteria:
- demand;
- marginality;
- deal cycle;
- complexity;
- volume of investment for launch and payback period;
- market trend;
- Availability successful businessmen who earn millions in this niche; how much, on a scale of 10, do you like the niche you are analyzing.
Pavel Ugryumov
Choosing a niche for a business: obvious and non-obvious niches
Niches are divided into obvious and non-obvious. The former are attractive because they are a final and simple product.
The second ones are complex ones, which participate in the process of producing obvious ones. You can choose either type. Each has advantages and disadvantages.
Obvious niches
Obvious niches are business on the surrounding things that we see. Look around: furniture, cars, real estate, books and so on. These are final products that are in mass demand.
Advantages:
- easy to understand and quickly understand the niche;
- formed market;
- easy to analyze;
- a lot of requests.
Flaws:
- there is a lot of competition, therefore a high barrier to entry into the market;
- it is difficult to stand out among competitors;
- high risks.
Non-obvious niches
Highly specialized areas of business that are involved in the process of creating the final product. These are components for equipment, chemical reagents, etc. That is, in ordinary life such products are not found.
Build a business in unobvious niche It's only worth it if you are a master in this area. For example, you have higher education biologist, worked in a relevant industry enterprise, and then decided to open a business on this topic.
Another example is the services of a forester who provides services for allocating zones for deforestation in accordance with the legislation of the Russian Federation.
Working for hire, a person received 70,000 rubles a month. Resigns because wages do not lift, but at the same time remains the best professional.
Opens a business and works with a former employer on a contract basis. In this case, the check is no longer calculated in thousands of rubles, but in millions.
Only a person who has reached the “master” level can advance and earn money in highly specialized niches.
If you try to become only an organizer, you will encounter staff turnover and will not be able to fully control the process of providing services.
Advantages of unobvious niches:
- much less competition, while the demand for services is quite high;
- low entry threshold;
- minimal risks;
- possibility of independent pricing.
Flaws:
- You must be a specialist who has extensive experience;
- you need to analyze the demand for a highly specialized niche very well;
- At the beginning of your journey, it is quite difficult to earn money quickly and a lot.
You learned that there are obvious and unobvious niches, and got acquainted with their features. Which one should you choose? You decide. The main thing is to take into account the recommendations and do a niche analysis before investing money, time and effort in your chosen direction.
Choosing a niche for business: trending directions
They decided to put this type out separately. Trending niches are similar to the obvious ones, but have a number of features. Here main role plays an analysis of demand for a product.
For example, goods from China are ideal products to sell, but only at a time when the demand trend for them is at its peak.
This type of niche needs to be entered immediately and done quickly. The goal is not to build a stable business, but to hit the jackpot and move into another trending niche.
Let's take GPS watches for example. At one time, they could earn millions of rubles in a short period of time.
Now the demand trend is steadily falling and if you want to enter this business, then in 90% of cases you will lose money or reach the break-even point.
But the trend for electric bicycles and scooters is growing (2018). You can easily enter this niche. The main obstacle will only be finding a reliable supplier who will not let you down.
Advantages:
- the opportunity to earn quickly and a lot;
- no deep knowledge of marketing required;
- high demand at the peak of the trend.
Flaws:
- business is not forever - as soon as the trend starts to fall, you should leave this direction;
- risks - the supplier let you down, you didn’t manage to sell quickly, demand fell and you’re in trouble;
- the business is not suitable “for the soul” - the main task is to buy quickly, sell quickly and get a margin;
- you need to closely monitor trends, the slightest mistake and you are in the red.
Choosing a niche in business - algorithm and analysis tools
Choosing a niche for a business should begin with an analysis of demand (this does not apply to unique ideas). In the USSR, the model of supply superiority over demand worked. In simple terms - “take what they give.”
If you have studied modern economics, then you know that demand creates supply, and not vice versa! Trying to impose a product on the market is a path to bankruptcy.
1. Demand analysis
Demand is easy to analyze. To do this, you need to go to Yandex.Wordstat and enter the query you are interested in within the time limit.
To find out the demand for a purchase, add the word “buy” to the request. For example, “buy an electric scooter.” Don't forget to select the region in which you plan to sell goods or services.
Find out how to analyze demand in practice from the video in which our director Pavel Ugryumov will review the Yandex.Wordstat service.
2. Competitor analysis
Choosing a niche in business is impossible without analyzing competitors. Find out which players are present on the market, how much they earn, what promotion methods they use and what size budgets are allocated for promotion.
Imagine this situation: you decided to repeat the success of one project, but did not analyze a competitor who receives hundreds of thousands of dollars of investment from America for promotion.
And you have 50,000 rubles for launch. What will happen? With 100% probability you will fail, as you will not be able to even be at the level of your opponent.
If you analyze your competitors, you will understand whether it is possible to enter the market and whether it is worth doing.
Evaluate your competitors using the following algorithm:
- product line - what they sell;
- determine the best-selling product;
- unique properties of the product;
- define marketing strategy- what promotion/client attraction tools are used;
- find out touch points with the audience;
- calculate the effectiveness of advertising channels;
- check your competitors’ sales algorithm (yes, yes, we leave requests, call, buy);
- determine sales channels;
- check the chain of work with the client;
- find out the availability of sales scripts;
- define average bill, number of applications, sales and market coverage, among the analyzed competitors.
Result of competitor analysis
Based on the data received, you will understand what the state of affairs is on the market and whether you can take a piece of the pie. Also, based on your competitor analysis, conduct a SWOT analysis, which will help you differentiate yourself from your competitors.
If you don’t want to bother and waste time analyzing competitors, then delegate this process to our agency. Just click the button below and submit your request:
Choosing a niche for a business depends on the target audience. Knowing your target audience will help you understand whether you can satisfy customer needs at the same level or better than your competitors.
Also, knowing and understanding customers will greatly simplify business promotion and development in the future. The target audience is the foundation of the project. Understanding the pains, fears, desires and needs of the audience will ensure a flow of clients.
If you want to learn more about the target audience, we recommend that you familiarize yourself with the course: "". To find out more, just click on the button below:
*Remember! Anyone who knows the target audience has no problems in sales!
4. Assess margins and deal cycle
The choice of a niche for a business is influenced by the product margin and the transaction cycle. These two factors are closely interrelated.
Product margin is the difference between the selling price and the cost price of the product. In simple terms - net profit from sales.
See how profitable the margin is in the chosen niche. The higher the net profit, the better. But there are nuances with the transaction cycle.
The transaction cycle is the time that passes from the moment of contact with the client until the receipt of income. As a rule, the higher the margin, the longer the cycle and vice versa.
For example, at grocery store The transaction cycle is 60 seconds, but the margin is quite low. Another example is real estate. Here the margin is much higher, but the transaction time takes weeks or months.
Determine the margin-to-cycle ratio and choose the option that best suits you.
5. Determine what your soul is about.
After analyzing the niche using dry statistical data, you will get a dozen directions. When choosing, we advise you to focus on knowledge and love for the niche. If you start doing something that is profitable but not your favorite, then nothing productive will come of it.
Love business, love clients! Well, we wish you success, high checks and a lot of positive emotions!
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During the planning stage entrepreneurial activity It is important to choose the right path.
The concept of a business niche - the basics of successful management
Literally, a niche is a recess in the wall. Globally – a zone of convenience. In the economy there is a free place where an entrepreneur can realize his idea.
The task of a novice businessman is to choose one in order to find clients.
Niche requirements
- Arouse interest among those who cannot find the service in the required volume on the market.
- Demand
- To be free is to target a specific target audience that has an unmet need for your product.
These criteria guarantee the profitability of the business.
When a person wants to start a business, he looks for ideas to implement, focusing on what surrounds him. The first plans are associated with current activities:
- trade in products and things;
- restaurants, cafes;
- shoe repair, tailoring;
- pharmacy.
It’s easy to find your way around – follow the standard selection algorithm: narrow your search to the minimum. Example:
- Segment (confectionery).
- Category (cakes).
- Niche (wedding).
The narrowing should be maximum, then things will go more efficiently. Amaze the newlyweds with sweet figurines of the bride and groom for decoration.
In which area is it better to open a business?
Those who have achieved success remember how they started from scratch, looked for options and ideas, and rejoiced at the first money they earned. In many ways they professional growth was successful thanks to a correct understanding of business processes: some were based on intuition, others on experience.
Determine five directions for yourself possible activities according to the algorithm for choosing a particular niche. Check the idea for viability. At this stage you will have to work hard.
Market research
Look at the chosen direction from the buyer’s side - are you ready to spend money on this idea yourself? Talk to your friends and relatives - make a list of their priority needs. Find out your opinion about the importance of your chosen method of earning money.
Demand and competition analysis
Enter the name of the service in the search bar of your browser - you will understand the approximate number of companies that are engaged in a similar business, and estimate the circle of potential buyers. It is useful to get acquainted with analytical data on a certain type of business, which is published by many authoritative economic publications.
Practice
Test your idea on a test group. It can include family and friends. If you want an unbiased assessment, offer the product to a dozen random passers-by or inquire about possible cooperation with companies that, in your opinion, may become clients.
Do not despair if, after carefully developing your business idea, you have to look for other unoccupied market segments. An in-depth analysis of your own creative potential will help with this.
How to determine which business niches are not occupied
According to statistics, the following are considered promising vectors of entrepreneurship for Russians:
- Scope of services: accounting, legal, repair.
Text by Irina Nikitina
Photo Pixabay.com
Choosing a niche for a business is one of the most difficult challenges in the life of a new entrepreneur. The topic is shrouded in doubt and anxiety. We will look at five difficulties, and you will see that you should not be afraid of them.
You can do better, but you don't know what exactly
You want to start a business. Already a year or even several years. You have come a long way in studying cases, success stories, examples of business models and ideas. You read educational articles, watch business seminars and follow success stories of people who decided to start their own business and successfully develop it.
And then you realized that you can do the same, and maybe even better. And, most importantly, you want it. You even mentally have some strategies ready, starting with the words “And I would do this...”. This is cool.
There is only one problem: the niche has not yet been chosen.
Choosing a niche for business: what stops you
1. I need a million dollar idea
Innovation is a definite advantage. For real creative ideas are valued on the market, but appear very rarely. It’s not clear how everyone else builds their business then.
Watch successful companies: many of them did not invent anything ingenious, but only invested in simple idea new meanings.
Don't worry about lack of creativity. Sometimes the key to success is not originality at all, but an offer made to the client on time or meeting his needs right now.
And don’t think that all the models have already been taken, and that the ideas have already been sorted out before you. This is wrong.
Competition is not something to be afraid of
»2. I need a niche free from competitors
You monitor potential competitors, and from headlines “We have been on the market for 10 years” and stories successful projects darkens in the eyes. Yes, it’s hard to compete with such people. It's probably worth stepping back, closing the tab and starting looking for a model that won't have any competitors. But the problem is that there is no such model.
The good news is that competition is not something to be afraid of. You can learn from your opponents, notice the good and bad sides, and analyze the target audience. Often, high competition in the market is the key to the profitability of a niche.
3. I want to do what I love, but my hobby will not bring in income.
If you think that your hobby is not interesting to anyone except you, perhaps this is true. But what if the world simply doesn’t know how much it needs your product? Until you check, you won't know.
There are many beautiful profitable projects based on hobbies. Business must necessarily include a competent approach, great determination and a thirst for results. And you can combine all this only in a business that lights you up. If you truly believe in your business, then good packaging and positioning will help.
Business is a lot of opportunities that you can’t get anywhere else
»4. I want to develop in different directions, and the choice of one niche constrains me
As a child, you went to a dance group, drew, learned English, and also wanted to sign up for wrestling, but your mother didn’t allow it. It has always been important for you to cover as many areas as possible. Now you have grown up, but you still want to know and be able to do as much as possible, while devoting time to your family, having hobbies and developing spiritually. I can’t imagine how this can be achieved if you choose one niche.
Think about the fact that it is impossible to become an expert in all areas, and if you spread yourself across a bunch of different areas, you will not become an expert in anything. At the same time, choosing a niche is not a limitation. Business is a lot of different opportunities that you can’t get anywhere else. Try to get started and you will see how versatile the experience will be.
For good result you will have to do a lot of unfamiliar things
»5. Before choosing a niche, you need to calculate the market
If you're serious, you'll certainly have to do audience research, trend assessments, consumer research, and more. These are very important points, and they scare many people.
Yes, for a good result you will have to do a lot of unfamiliar things. But these things should not scare you and serve as an excuse for procrastination. Don't worry about complicated things, just start. In 2018, you can become a businessman simply by launching a website or blog.
Where to start a business
Online course SuperStart is a two-week program from Womenbz.Education on starting a business from scratch.
You will find a business idea based on your competencies, choose a niche, analyze the market and competitors, evaluate your audience and create a business model.
Sooner or later, a person is faced with the question: continue to work “for his uncle” or try his hand at his own business. An independent business means personal and financial independence, the realization of ambitions, and status. But at the same time, these are increased risks and full responsibility for the final result. The success of future entrepreneurship is largely determined by the correct choice of business niche, which we will talk about in this article.
1. Decide on the business direction
Choosing a direction for future activities is the most important step for a novice businessman. There is no need to grab headlong for the first (even popular) idea you come across. You need to soberly assess not only the prospects of the direction, but also your own capabilities for entering the chosen field and developing in it. It is desirable that the niche meets at least one (and ideally all) criteria:
- You should like the chosen direction. A business that you do with pleasure is more pleasant and easier to develop. Many businessmen called themselves happy only because they turned their hobby into a business. As a result, you receive both moral and material rewards.
- You must have competence in the chosen direction. Even if the niche in your profile is quite competitive, good professional knowledge and skills should help you take your share of the market.
- The services and goods offered must be in demand. The well-known formula from classical economics “demand creates supply” is relevant at all times. Of course, there are high-risk areas in which venture companies introduce fundamentally new products to the markets: in fact, the reverse formula works - the manufacturer creates demand with the help of a completely new product or service. But this option is more suitable as an additional option if you have a valid effective business. At the initial stage, the risks must be justified.
2. Assess the prospects
It's good when you have a clear idea of what you want to do and how to go about it. But more often than not, when choosing a niche for a business, you start tossing between various options. Therefore, it is better to make a shortlist of ideas that you think will work in your execution. Having compiled such a list, you can begin to more carefully evaluate each idea in terms of opportunities and threats.
First of all, you need to understand two things:
- Who is your consumer in each potential niche?
- What are the prospects for each direction?
You need to clearly understand what customer needs your business will satisfy. Potential consumers are money, and they need to be assessed using various mechanisms: surveys of friends, thematic forums, groups in in social networks, expert opinions. You need to create consumer profiles for each selected niche.
The chosen area must have development prospects. It makes no sense to invest in a direction that, although in demand now, has a tendency to “shrink” in the near future.
3. We weigh our options
The entry threshold is different everywhere, and this is influenced by various objective and subjective factors. When assessing each promising niche, these factors should be taken into account, even those that at first glance may seem insignificant:
- Competition. You need to understand who your competitors are and what advantages you will give potential clients. If the offer in a niche is redundant and you are not ready to offer competitive advantages, then even knowledge and desire will not help to gain any significant position in the market.
- Your potential. It's about about internal and external potential. Rate not only yours personal capabilities, but also the possibilities of your environment. A childhood friend can become the first supplier of components, a wife’s friend can become a target audience and at the same time “word of mouth” advertising, an influential acquaintance can become a lobbyist for interests in the chosen market.
- Start-up capital. It is important to understand the source of financing for starting a business. And if for the service sector this will not be the most significant amount, then for the manufacturing sector it is quite a decent amount. It's good if it's enough own funds, but will you be ready to sacrifice other people's or credit money?
A thorough study of all factors for each selected niche will help to gradate and compile your personal rating of business ideas. And then all that remains is not to be afraid to take the first step.
4. We count correctly
Drawing up a preliminary business plan for each idea is a rather labor-intensive, but necessary stage. It is important to understand that “the game is worth the trouble” because the ultimate goal of any business is to make a profit. Doing business for the sake of doing business is wrong and will ultimately lead to financial ruin.
It is the insufficient depth of immersion and excessive optimism in calculations at the initial stage that main reason unprofitability and bankruptcy of most beginning businessmen. When making calculations, you need to focus specifically on the pessimistic forecast. Even the apparent promising direction with many unmet customer needs is far from a guarantee of customer flow in the first stages of business development. Path from potential client to the real one - it’s quite long, and you need to be prepared to go through it “in the minus”.
When drawing up a preliminary business plan, you need to calculate:
- One-time expenses at the very beginning. This could be a purchase necessary equipment and tools, costs of registering an individual entrepreneur or legal entity, buying a franchise, licensing, etc. These expenses are one-time and make up the bulk of start-up costs.
- Current or monthly expenses. This includes rent of premises, salary employees, utility bills, bank services, tax deductions, purchase of components and other costs. You need to see what you can save on in the beginning, and individual species Work (accounting, website maintenance) can be outsourced. In this case, you need to have a “safety margin” for at least three months, and preferably six months, i.e. be prepared to finance operating costs from your own pocket.
- Revenue plan or revenue. This is precisely the calculation for which optimism is the main enemy. Estimate revenue prospects based on the lower bound to be prepared for reality.
- Supply plan. Is not current problem for the service sector, but important for manufacturing. The production process must be provided with materials and components evenly and constantly.
A preliminary business plan differs from a full-fledged one, but it is quite sufficient to assess the possibility of entering the chosen business niche.
5. Making the final choice
After going through the previous 4 steps, you will see a more or less clear picture for each business idea. You have preliminary calculations in your hands, an assessment of each direction and an understanding of what needs to be done. Having weighed the prospects of each idea using the proposed methodology, you will end up with a very real niche for your own business.
Be prepared for difficulties in the first stages and be patient: return on investment is not a matter of just one month. But the opening prospects are worth starting your own business.
Evgeniy Shleenkov - founder and CEO Entrepreneurship Development Center "Shmel", co-founder construction company“Eurodom”, owner of the DiMaestri coffee company, business coach and business consultant, wrote a column for us about choosing a niche.
Most frequently asked question, which I hear from beginning businessmen: “What is more profitable (better, more interesting) to do?” It’s the same as asking: “What profession should I choose to be rich (happy, successful, etc.)?” There is no universal tool for choosing a business niche. This is a personal decision and personal path for everyone. However, I understand where these questions arise: today there is so much information that it is impossible to understand what is still missing in this prosperous and goods-filled world. And if we take the area of online sales, then at first glance it will seem that everything is available on the Internet. What they offer us, and what colorful sites they lure us in with. And in all this diversity, how can you avoid becoming one of the millions? Once again, there is no magic pill. Business is an organism, and it’s difficult to say how it will behave in your specific situation. But there is analytics, experience and a set of knowledge that will help you make a balanced and, most importantly, informed decision.
A niche is the basis of any business. As the sailors say: whatever you name the ship, that’s how it will sail. So it is here: the choice of a business niche often determines its success. People spend a lot of money and effort on advertising and marketing, but in the end they don’t get the response they want. And the reason is the wrong niche. Because if consumers are not ready to buy your product today, no colorful website or newsletter will help. They just don't need it today, that's all. Therefore, at the very beginning, take the issue of choosing a niche seriously.
Remember, the niche you choose must meet three main criteria:
1. The product is beneficial
In this case, product is a more expanded concept; it can be both a product and a service. Today, more and more often, we are moving away from selling physical things into the sphere of solving problems or fulfilling people's desires for their own money. in the best possible way. Today it is not enough to simply buy cheaper and sell more expensive. The market is so crowded with goods that it is almost impossible to beat the price. will ruin your business. And your goal should not be just the desire to sell, but to realize exactly the right thing or a service to those who really need it. Price is no longer an advantage. Your main task is to understand what benefits what you sell brings and what it gives to people. There is a wonderful film on this topic - “The Pursuit of Happiness.” Main character is desperately trying to sell medical equipment that people simply don't need. Or necessary, but not for those he called. The story ended well, by the way. However, in real life, such mistakes lead to great losses and disappointments.
2. The product should evoke emotions
Our brain consists of two hemispheres: left and right. The first is responsible for logic, the second for emotions. In the first case, you can convince your customers to make a purchase through comparison, USP, talking about the benefits, expert assessments and so on. In this case, people evaluate you and your product, compare with competitors, find pros and cons. In the second case, you evoke emotions. A person sees your product and wants to buy it. There are no reasons or they are too abstract: I want that and that’s it, because it’s cool. Women often shop for clothes and shoes using their left brain. That’s why we often hear phrases like this: “I saw this dress and realized that it was mine,” “These shoes are like from that magazine.” A friend of mine who drives the latest Bentley once told me: “The people who understand this car best are those who will never buy it. I knew absolutely nothing about this model; one glance was enough for me to understand that I wanted this car.” Price is a very secondary consideration here. If you really like the item, you won’t ask the price.
3. You are an expert in your chosen niche
A mandatory rule is to understand what you are selling. If you don’t know your chosen product well yet, learn. Today, you don’t even have to get up from your desk to do this: there are a lot of educational videos on the Internet about everything. Otherwise, your incompetence will be detected immediately. The consumer is not a fool, he just won’t want to spend his money, so you’ll be faced with a barrage of questions, half of which you simply don’t expect. You must not only know your product, but also the chosen niche, the characteristics of competitors, all possible alternatives, technical capabilities, history, and so on. It is impossible to know everything. However, if you decide to start your own business, be demanding first of all of yourself. Amateurs are immediately visible and this greatly reduces the level of trust.
Also, the following points are very important:
4. Do not purchase goods in advance
A very common mistake among beginning businessmen is making large investments. If you think your product is the bomb and everyone will want to buy it tomorrow, run a test. Make an ad on Avito and see what kind of response there is. Or ask your friends and acquaintances if they would be interested in buying this product. The McDonald brothers once worked for hire (yes, this happened to them once). They realized that time spent on lunch could be used productively. Instead of visiting a restaurant, they began to take a quick snack with them - a bun and a cutlet. As a result, lunch was shortened by 40 minutes, during which time they made calls. As a result, the results improved. After the first award, colleagues themselves began to become interested in the recipe for success. This is how the idea of “fast food” was born. Later there was the first restaurant and waiters on roller skates. Life itself gives us ideas for business. And if you are sure that new Chinese phones will definitely explode the market, try to collect at least the first twenty orders with prepayment and only after that make a purchase. Otherwise, it may turn out that no one needs phones now, since a new Samsung has come out and all that remains is to dump them.
5. Solve life situations. Don't try to "sell"
Very important point- the ethics of your communication with the buyer. Don't try to sell your service at any cost. Go from the opposite - why they might turn to you for it. Pay attention to the most famous brands. They don't sell themselves, they sell an idea. Of course, Apple is the clearest example when selling technology turns into selling a lifestyle. Today this is a whole philosophy, a fashion trend, an unquenchable classic. All together and in one small phone or laptop. They sell us technology that can make our lives easier and communications faster. We choose a convenient, and most importantly functional design. And of course, the left hemisphere turns on! Such an integrated approach to selling its products has made the company a leader!
6. Study trends, catch the wave
There is one more concept - this is fashion. The phenomenon is very controversial and ambiguous, and also fleeting. Sometimes the lifespan of one trend is only one or two months. But competent salespeople make millions from this. Today, environmental friendliness is the trend. The greens won and filled everything around with the postscript - eco and bio. Today we see eco-fur coats, eco-cars, eco-food. People stopped eating meat, which led to the emergence of countless bio-markets both in reality and online. Another trend is local marketing: local food, local designers, local handmade markets and so on. In fact, today you can easily make money on anything you make with your own hands. Under New Year- these can be garlands self made, by March 8 - bouquets of vegetables, in the summer - signature smoothies made from celery and oak bark. Imagine, try it yourself, don’t be afraid to create things with your own hands: the more it looks like handmade, the faster and more expensive you will sell it. Stay on trend and don’t forget, everything has its deadline. Especially in the modern world.
7. Use analytics
Before purchasing a product or opening your own online school for anything, study the market. Recently, novice businessmen rely on Yandex Direct. The method is good, but not always correct. Remember, a request in a search engine is not a sale. Very often, a speech by a famous person on TV or a bright advertisement generates a surge in requests for a particular product. For example, you are offered to buy a car for only 300,000. And you enter the model in a search engine and compare prices. You start wondering how much this car cost before. As a result, there are thousands of requests for this car, but this is only temporary activity and is not a fact that the car is at the peak of sales. I would recommend looking at analytics on coupon sites. If you go to past promotions, you can see at what time and what services were sold. They actually sold, you know. A query in a search engine is simply a search for information; it is not always a purchase. See real analytics, where you can clearly see what kind of product and how many people bought it. Only in this case can we talk about the demand for a particular product.
Don't rush to earn money. Emotions only harm business. Be extremely careful and prudent. Today everything can be sold, even air from the Himalayas. There would be a desire and there would be demand. Therefore, before you rush to conclude an agreement with suppliers, test what you want to sell, conduct an in-depth analysis and be sure that you already have the required number of orders for the successful sale of the first batch. Take your time and believe in yourself and your product. Good luck!
