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nhd4me

Joined: Oct 14, 2007

# Posts: 37

Posted: 01/08/2008 05:52 pm

Hi guys

I have been for some time looking at starting a new project. I have read that it is a good idea to look for 'niche markets' and build a great site around a singular, or a few closely related topics.

It is intended that this eventually become a comercial site rather than a hobbie or personal interest.

My question is, from a purely revenue potential standpoint and after not finding any really interesting or appealing niches, am I better to try and build a site that captures a small part of a huge market (such as the adult or travel markets) as a referrer or affiliate seller, or stick to my guns and try to find a smaller market and aim for a bigger market share using my own sourcing of sellers/suppliers.

Now I know it depends on market size and penetration ... however I was just curious as to whether anyone had any experience in making such a decision and results that might be expected in the 2 paths.

Many thanks smile

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Quadrille

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Joined: Nov 15, 2000

# Posts: 987

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Posted: 01/08/2008 06:04 pm

Unless you have deep pockets, it's probably much better to build for a niche market, as you can be THE expert and THE authority; for example, a site on a minor C&W singer would almost certainly earn you better money than competing for Britney Spears fans.

Works for me wink

But even better to choose a niche you already know about and care about - the Big Boys with Deep Pockets don't bother with tight niches, and visitors appreciate a webmaster who takes a personal interest in what interests them.

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excell

Moderator

Joined: Mar 19, 2001

# Posts: 14495

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Posted: 01/08/2008 06:38 pm

I think firstly it depends on what your income expectations and business goals are.

If you are just popping on to the Internet with the view of making as much quick money as possible with the least amount of effort then there are many ways to go...(and I wouldn't be the one to listen to).

But, I want to talk about a legitimate small business idea and how to build an income to make a living type amount as a starting point.

In my experience as a web developer for small businesses I have seen enormous success for clients who have selected products for resale and become successful distributors.

First - a quality product range with a small range of variables at a decent markup margin is a good start - rather than an unwieldy large range at a low cost purchase.

It must be a product that you believe in and that is sort after by people who have the means to purchase it easily. i.e. corporate, government or specialists etc.

Once you settle on what you are going to sell and have made some arrangements for product flow etc... then research every aspect of:

The products
The manufacture
The target market/s
The competition

Speak to the manufacturers and get in writing such details as - permission to use their name, specification documents, information, etc. (important).

Then build a website which is unique in everyway. Every single product image, description, review and article should be lovingly created from scratch.

Pay attention to credibility and trust issues, make it friendly and believable with no hype.

I have seen clients sell products to international purchases and ship them overseas right back to the manufacturers countries where the person buying could just have easily walked out and bought the same thing over the counter and around the corner!

Anyway, my point is that it can be done and there is a large opportunity even for the smallest person who is willing to do some initial work and then follow through and look after their customers for after sales service etc.

In most cases these client websites have:

Beat their parent companies and competitors out in the search engines consistantly for many years under the company name, the product names and the general product type names. They require little or no maintenance on their websites (because the work was done correctly in the beginning).

They don't come bug me because they are too busy selling product.

By selling a small range of products to a small target audience they make comfortable money. At anytime and if they could handle the extra work it would be very easy for them to now add more product or other ranges, because they have the sales channel (their website) and the rungs on the board as legit identities.

Anyway, hope it helps - one day when I get around to it, I will be like you and be setting up my own business website to make money for myself - instead of doing it for others!

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SportsGuy

Moderator

Joined: Aug 30, 2002

# Posts: 3550

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Posted: 01/09/2008 05:09 pm

WOW! excel - wow! excellent response!

I'm in the 'build for the niche' camp. I did it, and it typically sees a return af about $1,000/month from Adsense.

Takes a lot of typing, and a lot of patience, as it took around 1.5 years to really see the difference in revenue - from almost zero to something.

I've lost track of the domains I've bought - all niche-focused - that I'd planned to build a site on. hey, if one site sees decent money each month, how would 5 do over time? 10?

be prepared to invest a LOT of time if you go this route. many a night I was sorely tempted to throw in the towel - glad I didn't.

My niche? Jeeps.

Other players? - tons, many bigger and older...didn't stop me for a moment - just went ahead and built the unique content one page at a time.

Don't sweat competition - it's an indication that the niche is worth looking into. wink

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nhd4me

Joined: Oct 14, 2007

# Posts: 37

Posted: 01/10/2008 05:19 pm

Wow indeed ... thanks guys ... some really good points here and infact along the lines I was thinking ... just looking for a last minute Devils Advocate I guess ... sort of like delaying the start, knowing work ahead.
I have been down this road once before and built a site with about $2mil sales in 2007(At average 8% commissions) in one area of travel. After offloading that company in 07 now looking for the next project, but thought I would just test the waters of the 'dark side' knowing the time and effort that went into the last 3 years.
I really do appreciate the time (esp Excell) and consideration that you gave to your answers. I read this forum everday so I am sure you will find out how I go.

Thanks again, G

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beth_lk

Insider

Joined: Jun 23, 2004

# Posts: 985

Posted: 01/10/2008 11:42 pm

by people who have the means to purchase it easily. i.e. corporate, government or specialists etc.

.

was this group/list of people used as examples? or where you being specific?

I assume ( ya I know lol ) you meant it in general and that list could also include moms, dads, teens, etc etc. ?

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excell

Moderator

Joined: Mar 19, 2001

# Posts: 14495

Website

Posted: 01/11/2008 11:13 pm

I was thinking away from individual sales for consumer / pop items and more like essential / industry items...i.e. bulk purchase for groups, departments, corporate...nice!

Nothing wrong with targeting teens and households at all, I just think there are a lot of products that could generate multi purchase in niche markets that are worth exploring.
i.e. ice for eskimos
superior headlights for miners
stress relief mats with inbuilt auto foot massagers for office workers

etc. smile

Whatever the product / market - key is enthusiasm and product knowledge.

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beth_lk

Insider

Joined: Jun 23, 2004

# Posts: 985

Posted: 01/12/2008 07:30 pm

Thanks excell - I was asking just to be sure smile

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