Another good filter could be: “How many folks are actively looking for a solution?” This approach can work, but can also produce false-positives (because there’s no proof that people will pay).
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The definition of “niche” is: “relating to products, services, or interests that appeal to a small, specialized section of the population.” Here’s my concern: just because it’s small (or specialized) doesn’t mean it’s profitable. Niches ≠ Riches
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When you’re looking for a market, whether something is small (or specialized) doesn’t matter as much as “is there a sizable group here who are actively spending money to make their lives better.”
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“Most innovation comes where money is already flowing. Same stuff, just done better.”https://www.saastr.com/about-70-of-saas-unicorns-are-new-versions-of-existing-categories-of-software/ …
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I agree justin.Niche or large fragmented industry, we see companies fail and grow in both. Whether it be barrier to entry or not. It's all about the cohort who has a problem that they care enough to pay for.
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So it’s not about the niche quality of the market, but its profitability that matters. But niching down is helpful, so find a niche in a profitable market. One that has a large enough population seeking for a solution and willing to pay.
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I can totally be on board with this. I’m pretty sure my niche can verify that. There is money in it. But there is a limit. I’ve hit that ceiling and there is no way to get past it. No the question is what am I going to do about that.
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I think it depends on the niche definition. If you define niche as your part of the overall market that you serve with your specific solution, this is fine. So you are generally creating your niche between existing competitors.
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Existing competitors in the overall market for your product also means that there is money :)
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Today I listened to the latest episode of the
@IndieHackers podcast talking exactly about lessons by@_cloudcampaign on “Niching down”. Here’s a snippet on this exactly created from https://podcast9.com/share/episode/3eIVp0uE1 …pic.twitter.com/O7rcnl8m2cDziękujemy. Twitter skorzysta z tych informacji, aby Twoja oś czasu bardziej Ci odpowiadała. CofnijCofnij
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Wydaje się, że ładowanie zajmuje dużo czasu.
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