How to find your niche market? 5 factors to consider

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Once you are clear about who you would like to help and the type of market niche you want to focus on, you need to validate the idea. To do this, we recommend reading Bill Aulet's book, ' The discipline of entrepreneurship ', but, in case you don't have time to read it, we have a short checklist in advance with the questions you should ask yourself to find a profitable market niche.

market niche1. Do you have purchasing power?
This point is important because, no matter how good your product is, if the at&t email database audience you are targeting cannot afford it, your efforts will be of no use.

2. Do you have a good reason to buy?
If the answer to the previous question is yes, the next question is, are you willing to pay for it? That is, you may have the money but lack the motivation or urgency to buy it.

3. What is your competition?
Although the famous Blue Ocean strategy focuses on finding emerging market niches, the truth is that it is increasingly difficult to find 'unexplored territory'.

So, the alternative may be to look for niches with little competition and improve the existing offer. Be careful, with this we do not mean cutting prices, but rather adding more value or adding a personal touch that makes your product more attractive for that market niche.

To assess the level of competition in your niche, we recommend checking out Neil Patel's Ubersuggest SEO tool.

Do a search for the keywords that interest you and look at the last column (SD). If a value above 30 appears, it means that the niche is too exploited and it will be very difficult to make a place for yourself.

4. Is it an easily located profile?
Knowing where to find your audience is essential to be able to attract their attention. If you also intend to sell online, you will have to make sure that they are comfortable in this environment and find out which spaces they frequent in order to define your communication strategy.

5. Is it easily scalable?
Think big, act small. A good niche is one that, once you've achieved your goals, allows you to go for more. If your niche allows you to pivot or expand your product portfolio while remaining true to its essence, you've found a goldmine.