Choosing the Right Niche For Your Information Product Business

One of the most important steps in creating a successful information product business is selecting the right niche. If you choose a niche that’s too obscure, then you risk not having enough potential customers to sustain your business. Conversely, If you pick a niche that’s too mainstream you risk your business getting lost in a sea of competition.

So what are you to do? How can you choose a niche that will work? I suggest trying to create niches within niches that either don’t exist, or the competition is so small that you’ll have no problem setting your business apart from the rest. In my own case I chose music licensing, a niche within the music business niche. There are a few others selling information about music licensing, but not that many, and I’ve been able to gain enough of a following that I’ve been able to build a sustainable business that continues to grow.

There are plenty of other examples. Take online dating. There are tons of dating sites, but a few years ago there weren’t tons of free dating sites. Enter Plentyoffish.com, which in the last few years has become both a huge site and a hugely successful business. It’s supported by ad revenue as opposed to paid subscribers.

Or how about Double Your Dating. They are a 20 Million dollar plus a year business. They teach dating skills to single men. A few years ago there were TONS Of relationship books but very few materials that actually taught guys how to get into relationships. The main niche is relationships. But the niche within the niche is marketed towards single men looking to learn how to attract women.

Do you see how by taking mainstream niches and digging a little deeper you can strike gold? These are just a couple examples off the top of my head and I want to keep this article fairly short. But think about successful businesses you know and how this concept relates.

Do you want to learn more about how to create information product businesses online? I’ve created a totally free hour long audio program about how to create and launch your own information product business. Check it out by going to http://www.aarondavison.com/free_program

Internet Marketing Success Tips – How to Always Show a Profit in Your Information Product Business

Are you fully aware of all the assets you have in your possession at this very moment? Most people have no idea of the astounding number of assets and resources readily available to them right now that could be used to quickly build and grow an information product business.

When I first ask clients to tell me what their assets are, I typically get a very short list of only five or ten items… money, equipment, products, education and the like. But an asset is much more than what those kinds of things represent.

By definition, an asset is a useful or valuable quality, person, or thing; an advantage or resource. If you’re unaware of all the valuable assets currently at your disposal, then how can you use or tap into them, much less fully leverage them?

Let’s take a look at a just a handful of the many powerful business-building assets you already have at your disposal… key assets that will enable you to not only survive, but thrive in your information product business.

Personal and Professional Assets Mini Inventory

Contacts

Make a list of ALL of your contacts and their relationship to you. Include business associates; past or present coworkers; networking acquaintances; current and past bosses and supervisors; vendors and suppliers.

Remember to include personal and business service providers; relatives; blogging or other social networking contacts; mastermind partners; media and PR contacts; and so on. Don’t overlook anyone. Sometimes it’s the people you least expect who turn out to be your most valuable connections.

List Assets

Record any contact lists you currently have or could easily gain access to. Include your own or others’ prospect and customer list; personal and professional association, membership, club, church or other group lists.

Be sure to include any lists that you’d like to gain access to. Take a few minutes to brainstorm or research how you could gain access to them.

Personal Assets

Make a detailed list of your core strengths, education, experience, skills and any specialized training you’ve had. Consider all areas of your life… relationships, parenting, finances, and health and fitness.

Don’t forget to include things like volunteering, musical and foreign language training and experience. You’ll be amazed at how quickly your list of assets will grow when you take every area and facet of your life into account.

Content Assets

List any content you’ve ever created, even if it’s raw, unpolished material. Include things such as business, association or club newsletters and articles; white papers and reports; interviews; coaching or consulting emails or other communications.

Case studies and testimonials; newspaper columns; product, service, book or other reviews; press releases; pamphlets or brochures; and instructional charts, graphs or blueprints are all content assets that could be reframed for use in your Internet business.

Physical and Virtual Assets

Look around your home and office and make a list of your computer hardware; electronics / equipment (iPod, digital camera / video camera, microphones, VCR or DVD player / recorder, cell phones, headsets, etc.).

Take stock of your software programs or applications; web hosting, broadband Internet access, phone line access / service, etc. Be sure to include service providers such as a bookkeeper, webmaster, programmer, web designer and others.

Financial and Other Liquid Assets

Make a list of your cash assets including credit lines, savings, 401Ks and other retirement accounts or funds. Record anything else that could be sold or otherwise immediately converted to a cash asset.

Consider real estate and other investments and any other potentially cash-generating assets such as any products or product inventory, rental properties, intellectual property (with a sales process in place), and anything else that currently generates or could easily be set up to generate an income.

“If you count all your assets, you always show a profit.” -Robert Quillen

When you take time to take stock of the countless assets and resources readily available to you, you’ll discover it’s far easier to start and build a profitable Internet business than you may have been thinking.

Choosing the Right Niche For Your Information Product Business

One of the most important steps in creating a successful information product business is selecting the right niche. If you choose a niche that’s too obscure, then you risk not having enough potential customers to sustain your business. Conversely, If you pick a niche that’s too mainstream you risk your business getting lost in a sea of competition.

So what are you to do? How can you choose a niche that will work? I suggest trying to create niches within niches that either don’t exist, or the competition is so small that you’ll have no problem setting your business apart from the rest. In my own case I chose music licensing, a niche within the music business niche. There are a few others selling information about music licensing, but not that many, and I’ve been able to gain enough of a following that I’ve been able to build a sustainable business that continues to grow.

There are plenty of other examples. Take online dating. There are tons of dating sites, but a few years ago there weren’t tons of free dating sites. Enter Plentyoffish.com, which in the last few years has become both a huge site and a hugely successful business. It’s supported by ad revenue as opposed to paid subscribers.

Or how about Double Your Dating. They are a 20 Million dollar plus a year business. They teach dating skills to single men. A few years ago there were TONS Of relationship books but very few materials that actually taught guys how to get into relationships. The main niche is relationships. But the niche within the niche is marketed towards single men looking to learn how to attract women.

Do you see how by taking mainstream niches and digging a little deeper you can strike gold? These are just a couple examples off the top of my head and I want to keep this article fairly short. But think about successful businesses you know and how this concept relates.

Do you want to learn more about how to create information product businesses online? I’ve created a totally free hour long audio program about how to create and launch your own information product business. Check it out by going to http://www.aarondavison.com/free_program

Video Production Business Tips – Are You the Master of Your Domain?

If you are fan of the old show, “Seinfeld”, you are laughing a bit at the title of this post. It’s an episode where each of the cast members place a bet that they can hold out the longest before they “take care of themselves” since none of them have a significant other at that point.

Within moments after the bet is placed, Kramer, the super funny neighbor, walks in Jerry’s door, slams down his money on the table and screams “I’m out!” Soon after he walked out of Jerry’s apartment the first time, he noticed a lady undressing in the building across the street and he couldn’t contain himself.

You might be wondering “How in the world is Kris going to spin this into a post about business?” Let me show you…
When I was growing up, my Dad constantly tried to teach me the concept of delayed gratification. This is basically a phrase that means you continue to do the right or necessary things over and over without fail and eventually, you will reap the rewards.

Too often, in both business and in life, we opt for the quick hit or for what feels good now versus disciplining ourselves to wait until the real payoff comes.

In high school, I was lucky enough to be one of the star athletes but it wasn’t because I was naturally talented. Sure, I was tall and kind of fast, but I had to work harder than everyone else to be really good.

While my buddies were off playing tackle football in a field or pickup basketball at the playground, my Dad always convinced me that it was more important for me to work on the fundamentals so that when it really mattered, in an actual game in front of hundreds or even thousands of people, I’d be ready to win it all.

In the summertime, my evenings consisted of placing 2′ x 2′ boxes all over the football field with the goal of being able to drop a football inside them from 10 yards, 30 yards and 50 yards both while standing still and running. I’d do this for hours almost every night and my poor girlfriend always volunteered to roundup the footballs for me so I could do it again… and again… and again.

I used to hate doing this night in and night out but I trusted my Dad’s instincts. I’d talk to him about how much I didn’t want to do those drills and he’d say, “Kris, if you pay the price now, you’ll be a champion later. What do you think the other guys who want to play Quarterback are doing right now?” So, I persisted in hopes of someday getting the gratification that was meant to pay me back for all my hard work.

My moment came on a brisk fall evening in November of 1994. We had been battling with our rival, all night long and with 1 minute left in the game; they were winning 7-6. Our defense held them on 4th down at our 20 yard line so it was up to me to take the team down the field 80 yards to score in 60 seconds or less.

In a situation when most 16- year old kids would freak out, I remember being calm and ready. I had prepared for that moment for months and had played that scenario in my head over and over and I knew exactly how it was going to end.

In a series of throws down the field that hit my receivers right in that 2′ x 2′ area, we made it down the field to our competitor’s 40 yard line with a few seconds left on the clock. On the next play, the clock expired and I threw an interception. For a moment, I was devastated because that is definitely NOT how it was supposed to turn out.

Once the dust settled, the referee approached me and asked if I wanted to take the penalty. Turns out that the reason I threw an interception was because the defender tripped my receiver after the ball was in the air so they threw the flag and called pass interference.

Since you can’t end the game on a defensive penalty, I had one more shot at winning the game form the 25 yard line with zero seconds on the clock. This was it… my opportunity to show the world what I was made of.

My coach called a time out so we could talk it over. He called a play and I asked him if we could run a play that I had imagined on a regular basis that I knew would work.

My star receiver and tight end were both starters on the basketball team so I knew they could out jump the defensive players. In the dirt, I drew up the play and I remember the coach scratching his head and saying, “Damn Kris, that’s gonna work!”

We lined those two guys up shoulder to shoulder on the left side of the field and ran them straight to the end zone. I took the snap, dropped back and threw it into the corner of the end zone in the exact spot where no one, but my guy, could get it.

Bernard Davis, number 86, caught the pass and immediately fell to the ground to protect the ball from being hit. We won the championship game with zero seconds left on the clock that year and that single play was named play of the year out all plays executed by every team in the entire Far East Conference.

That single accomplishment was the gratification I had worked so hard for and my Dad was right. When I needed to perform, I was ready – but only because I had put in all the hard work to master the fundamentals. I can honestly say that throwing that game winning touchdown set the stage for the rest of my life. I’ve had complete confidence in myself and have always believed that I can win in any circumstance.

I have a few questions for you… When a big opportunity arises in your video production business, will you be ready? Are you doing what it takes to master the fundamentals of marketing, selling, customer service and providing a top-quality finished product?

If so, it may seem like a never ending cycle of small jobs, missed car payments and all the other things that financial difficulties can create in a family. Hang in there, your moment is coming. I promise.