Making Big Money By Going Small On The Nets

You will hear over and over that the​ quickest way to​ find success on​ the​ net is​ to​ find an​ area with little competition. I second this advice.

Making Big Money By Going Small on​ the​ Net

Going small can refer to​ both marketing and business choice. in​ and of​ itself,​ you are trying to​ find a​ segment of​ the​ general market for a​ service or​ product line. One then develops a​ solution for the​ needs of​ that segment and then markets to​ it​ to​ get the​ word out. Let’s take a​ look at​ an​ example using one of​ the​ biggest companies in​ the​ world.

Toyota is​ a​ huge multinational company. at​ first glance,​ it​ appears that Toyota focuses on​ the​ auto business as​ a​ whole both from a​ marketing and production standpoint. This view is​ correct. Notwithstanding this fact,​ Toyota is​ excellent when it​ comes to​ identifying sub-markets that are wide open.

Toyota will search for niches for which it​ can supply a​ product in​ need. Toyota was one of​ the​ first companies to​ realize there was a​ group of​ car buyers who would be very interested in​ environmentally friendly cars. to​ answer this need,​ it​ came up with the​ legendary Prius. the​ Prius is​ the​ first mass production hybrid car. Where other car manufacturers saw Toyota taking a​ huge risk,​ Toyota saw it​ as​ an​ opportunity to​ identify a​ new niche and establish its brand. in​ marketing,​ it​ is​ often the​ first brand on​ the​ scene that takes the​ day.

Once Toyota took the​ plunge,​ it​ pursued an​ effective marketing plan. it​ didn’t promote the​ Prius in​ just any media. it​ focused on​ media outlets that were watched,​ read or​ listened to​ by people concerned about the​ environment. For example,​ it​ heavily promoted the​ car through environmental groups and their publications. as​ the​ only game in​ town at​ that time,​ Toyota not only dominated the​ business area – it​ was the​ entire niche.

Going small translates just as​ well to​ the​ Internet. in​ fact,​ your first sites should be focused on​ identifying niches and providing products or​ services to​ accommodate the​ need of​ those prospects.

One of​ the​ biggest mistakes made by new businesses on​ the​ web is​ biting off more than they can chew. You are not going to​ compete against Amazon for general book sales. On the​ other hand,​ you might be able to​ pound Amazon into the​ ground in​ the​ rare book market or​ in​ a​ specific sub-market such as​ home improvement periodicals. the​ point is​ to​ try to​ focus both your site and marketing on​ a​ segment of​ the​ market that is​ not already dominated.

Being a​ big fish in​ a​ small pond has its limitations,​ but it​ sure can be profitable!

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