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1/14/2012 2:35:43 PM EST
|How To Create Your Own Millionaire Niche
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How To Create Your Own Millionaire Niche
Internet millionaires have profited by recognizing that communities are formed based not only on common social interests, but also on shared purchasing interests. Because of the Internet’s ability to aggregate previously dispersed audiences , now any community is a market for specialized products that in the past might not have been profitable when their reach was limited to local markets.
By identifying these communities, large or small, you can target their members as potential customers for appropriately targeted goods and services that address the needs of their specific hobbies, lifestyles, products, industries, or services. I call this the How To Create Your Own Millionaire Niche strategy.
To implement this strategy, set yourself up as an expert in whatever niche you are qualified for, and that has business potential.
By targeting a niche that you know and like, you can use your credibility to create a business for yourself that you can enjoy and could also make you rich. Because you can keep your costs low as an e-business entreprenuer, you will also be able to target smaller markets that big companies neglect. This means less competition for you and probably higher profit margins, too.
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Historically, business could only reach customers within their local or regional markets. Only truly large companies could invest in advertisements or branch offices or stores to reach customers nationally or worldwide.
A major differrence between such Industrial Age companies are not limited by geography. This means that you can reach customers worldwide more cheaply than ever before possible. As a result, even small ideas that offer only a small profit per purchase that are purchased by only a small fraction of the reachable audience can still yield really big profits for small e-business entreprenuers like you. So even small businesses with limited appeal and no staff can make a lot of money these days because of the worldwide 24/7 reach of the Internet. Two concepts in particular enable e-businesses: Internet distibution and virtual communities.
How To Create Your Own Millionaire Niche Will Help You Explore the Internet Business Opportunity that Will Replace Your Current Income.
Both product and information industries were historically based on control of distribution. After a popular item like a vinyl record was manufactured or an important decision about a big financial deal was made, those who controlled how that product or information was distributed almost always made money by positioning themselves as middlemen. It was similar with service businesses–services traditionally were delivered in person and their distribution was consequently restricted to local markets.
The Internet explodes these traditions because now information can travel worldwide instantly and essentially for free; products can ship directly from their warehouses to consumers without middlemen distibutors; and many services, especially information-based ones, can be distributed virtually for free online. How To Create Your Own Millionaire Niche like yourself, this means that you have the chance to market your niche expertise worldwide unlike any generation in history.
The Internet brings people together around their shared interests and needs, creating virtual communities of like-minded people who interact using e-mail and websites. This results in a fundamental change in the way both society and business can be organized because these people may develop deep relationships and even do business together but never meet face-to-face in the real world.
What Does This Have To DO With You?
The definition of a community is simply a group of people who share a common interest. For a business person like you, if you have expertise or products relating to the common interest of such a community, you instantly have a potential million-dollar business opportunity!
Virtual communities are a major trend that you should get behind because each online community can be viewed as a new market. If you can understand the needs or interests of such groups of people, you can sell them goods or services that meet those needs. This can be even more rewarding for you if you happen to have a passion or hobby for such a niche yourself. Just as doctors or airline pilots or Porsche mechanics make money by delivering specialized services, you may also be able to leverage your own specialized knowledge to create a million-dollar business serving a niche community.
How To Create Your Own Millionaire Niche Will Change Your Life and How You Market a Product Online or Offline.
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|Quite a lengthy article to read, but well worth it! Virtual communities and social networks are as vital to business as advertising, perhaps even moreso.|