Fry This Concept Into Your Brain
Never forget that “the riches are in the niches!
One of the important fundamentals in generating a side hustle income is to avoid getting too general with your product and target audience.
Once you start coming up with product and audience ideas, try to niche down. Make your target audience narrower and more specific. Drill down. Then drill down some more.
Many people think too broadly when planning a side hustle business and deciding who or what will be their target market. This is almost always a huge mistake.
Getting back to that old adage …..
“The riches are in the niches.”
What this maxim conveys is the more you drill down on your target market, the more likely you are to be successful. The further you niche down, the easier it will be to isolate an audience that will say “YES!” when you reach the point of making an offer; an offer that addresses the needs specific to your niche audience, btw.
I can imagine what you’re thinking. “Why not offer it to everybody? Certainly, that niche audience you’re talking about also exists within a wider, more generalized audience.” That’s true, of course, but the bigger problem will be getting your niche message through to them effectively and at a reasonable cost.
Also, when you are not actually speaking with that prospect in person, you want to come as close to you can have the reader, viewer or listener feel like you are talking directly to them. In a more generalized audience, that is extremely hard to accomplish.
With a niche audience, on the other hand, you can zero right in on the pain points unique to them. You can get to the heart of the matter! You want that prospect to be thinking “Holy cow. He is talking to ME!”
Let Me Tell You A Story.
Several years ago I had a friend named Justin who specialized in liquidating retail businesses that were going out of business. One afternoon he laughingly told me he had ended up with thousands of golf gloves.
Say what, Justin?
His conundrum was that they were left-hander golf gloves. He didn’t know what he was going to do with them or how he could find enough left-handed golfers to sell them to in San Jose, California.
He had no idea about online selling. Not many people did.
I have no idea what he ended up doing with that niche golf product but I know what I’d do if it happened today.
I’d Create A Side Hustle
Remember what we said earlier, the riches are in the niches!
I’d start a golf side hustle catering to left-handed golfers. I’d create a website just for them and then I’d generate a ton of content; blog posts and videos exploring the variety of issues one encounters being a left-handed golfer. I’d profile famous leftie golfers.
This was in the very early days of the Internet.
Most importantly I would start building a list. I’d create some left-handed golf tips PDFs and other freebies unique to the niche.
That is the key. Those free downloads would be exchanged for an email address that would be added to my left-handed golfer selling garden. It would now consist of:
- Left-handed golfers who may be interested in buying the gloves
- Prospects for left-handed putters and clubs
- Multiple sales to a single niche. (the riches are in the niches!)
- Of course, they are all left-handed people who could be interested in non-golf leftie products (there are a ton of them out there). Things like notebooks, can openers, baseball mitts and watches all have a left-handed audience. The list goes on and on.
That last step shows how drilling down in your niche can then be reversed for selling products outside, but related to, your niche. Those left-handed golfers are also part of other niches. Golfers, left-handers, active people.
Essentially, I would use successful niche marketing techniques to build the list, my selling garden. Then I could turn the formula on its head and sell “cousin products” to my left-handed golfer selling garden.
TIP: Be very careful when doing this. If you don’t very carefully “tag” the emails joining your list you fill your selling garden with weeds! You want to make sure your list of left-handed golfers remains “pure.”
I’ll talk about these tactics in another post on email automation.
Before you start the content creation and list building, though, you need to take a very important step. It’s an integral part of niche marketing.
You need to define your Ideal Customer Avatar, (ICA).