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Laying
The Foundation To Create High Demand Niche Products And Services
Brainstorming
- Part 8
2. Did It Meet Your Expectations?
If the results of your evaluation met your expectations,
congratulations. You took the time to create and develop your niche,
something very few people have done.
But you’re not finished yet. Now you have a few decisions to
make, just like in the previous step. But these are the fun steps that
come with success. Ask the following questions after evaluating your
results ...
1. Are there any adjustments I can make to improve my results even more?
2. Do I want to expand on my idea (i.e my advertising or promotion)?
3. Can I adapt my idea to other areas of my business, product, or
service?
4. Do I want to avoid expanding or adapting my new niche idea and just
stay at my initial level for now? If yes, why?
Remember, any success you have will not only attract customers, but
competitors too.
Are you in a highly competitive market? Do you have a new niche idea
that’s working successfully?
Then you can bet your
competitors are working major overtime to find a way to beat your new
niche idea.
This is another reason to have an ongoing program for
creating new niche ideas, like the ideas in this course.
3. Did It Pass Your Minimum Expectations?
Did your niche idea pass your minimum expectations? If it did, then
that’s a positive sign you’re headed in the right
direction. It should have at least paid for itself.
But if you’re ambitious, which I am sure you are or you
wouldn’t be reading this. You’ll want to
examine what adjustments need to be made to make your niche idea better.
Some areas to focus on to improve your results are ...
A. Marketing.
B. Customer Feedback.
C. Word-Of-Mouth Advertising.
Let’s discuss these key areas:
A. Marketing
In what ways can you market your new niche idea more effectively to
your target customers, and improve your results?
If it’s within your budget, a consultant can be a big help in
this situation. Or going to your library and reading through the
marketing section can give you ideas on improving your marketing plan.
An average product with a good marketing plan will always outsell a
great product with a bad marketing plan.
If people don’t know how your product or service will help
them solve their problem, want, or need they won’t buy. A
good marketing plan will help to overcome this problem. Next
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