PART 2: For PART 1 Click Here
Welcome back to my new article series, and eventual eBook, that teaches you how to make a profitable digital media business for the negligible cost of a domain name (about $10)! Part 1 summarized my frugal business approach and an outline of methods to monetize your digital media. The beginning of this series is a little more hypothetical but it will get more technical as it goes on. Remember that I've done (and continue to do) this successfully, hundreds of thousands of other people have done it, and you can too! Finding your business niche is the first step!
But before you decide on your business niche, you'll need to clearly identify your passion in business. If you are not passionate and uniquely skilled in your field of expertise, trying to build your digital media empire will be a miserable failure. Don't even bother. I've witnessed many individuals that chose topics they were not passionate about, or didn't take it seriously, and they failed spectacularly. You also obviously need to do the research to make sure your new pursuit could in fact be a profitable endeavor. Study your industry peers, whether they are bloggers, YouTubers, published writers, small business owners, and or even established celebrities in their fields. How have they been successful? Can you get to their level or beyond?
If you've done the research and do in fact have the passion to create and promote your product, you first need to determine your business niche. If you don't figure out your unique specialty, you'll get lost in the crowd. In my experience you can sometimes find your niche along the way in your business journey... but I wouldn't recommend it. Hone in on your exact product, service, and target market. For instance, there are millions of sales websites so you can't just be generic and be "another sales guru". What makes you better than any of them? Another example: There are millions of gurus out there for Parenting, Pets, DIY, Automotive, Fitness, Sales, Real Estate, Marketing... the list goes on forever. Why should they read, view, or pay for your media content instead of the current option brands out there? I don't need to go on any further... you get the point. You need to STAND OUT from the pack and decide how you will shine.
Here are a few questions to ask yourself to help you choose your business niche:
- What makes you special or different?
- What makes your method or product better than the competition?
- How will you be able to produce your content differently?
- How will you be able to market your product differently?
- Who are you looking for when it comes to readers, viewers, and customers?
When you've determined your business niche, you can start creating unique and high-quality content while building an audience.
READ PART 3
Read My Posts:
"8 Great Seth Godin Business Quotes"
"8 Great Tony Robbins Business Quotes"
As Always, Best Of Luck In Business To You All!
Michael J. Schiemer of Schiemer Consulting
Enthusiastic Entrepreneur & Owner of Frugal Business
Digital Marketing, Social Media, & Entrepreneurship on a Budget
Mike Schiemer Builds Better Business
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