People have been using the Internet to sell stuff for a couple of decades now so it’s not uncommon to hear marketers tell you that such-and-such niche is over-saturated, or there’s already too much competition in a particular market. With thinking like that Thomas Edison would have never invented the light bulb – we already had plenty of candles! A true entrepreneur knows how to carve out a new niche – find a problem and build something you would use to solve it!
What if you don’t own a hammer?
That’s the real beauty of the Internet. You don’t need to build an actual physical product. Although, if that’s your area of expertise, then by all means go for it. But a lot of problems can be resolved simply be helping people learn how to do something – and you can make money when you’re the one doing the teaching.
For example, look at all of those ebooks out there that teach you how to make money blogging. The authors of those ebooks all identified a problem – people wanted to learn how to make money online. Each author then analyzed the problem from his own particular viewpoint and then ‘built’ an ebook to solve it.
What if all the problems have already been solved?
It might appear that the make money online niche is already over-saturated but look again. Every day there’s a new plug-in introduced that solves a different blogging problem. Every day someone writes a new ebook with a new twist on link-building. Every day someone comes up with a completely new marketing method or a new way to write articles or an easier way to design fan pages.
And each new solution has a new set of problems. Maybe you’ve finally found the definitive ebook that tells you everything you need to know about article marketing and how to write great articles. Boom! Problem solved. You now know how to use article marketing to drive traffic and you know what it takes to write a great article.
After a while, though, you’re still not seeing any traffic from your articles. People are leaving comments but they’re not clicking through to your site. And then you realize your resource boxes need a little work. That’s a big problem – what’s the trick to writing a great resource box? Somebody needs to ‘build’ something to fix it!
After you buy a product that teaches you how to fix those resource boxes you’re going to find other problems – you need to learn about building better landing pages, you need to learn about installing opt-in forms, and on and on… There’s always going to be one more problem and someone will always be making money fixing it.
The key is learning to identify the problems
To be a successful Internet entrepreneur you need to be able to identify the problems relevant to your niche and you need to be able to come up with creative solutions. And defining the problem is the crucial first step.
There’s a difference between a complaint and a problem. Someone may tell you they don’t like using WordPress because it’s too complicated. That’s just a complaint. What is it exactly that they find complicated? Are they having problems installing WordPress? Are they having problems installing themes? What problem are they having? Do they not understand the terminology and the directions or are they experiencing some type of computer glitch? Before you can ‘build’ a solution you need to determine exactly what the problem is.
Analyze your options for solutions
Once you’ve determined the specific problem you might find that you have more than one solution, especially because you’re an expert in your niche. Analyze your options and present the most basic, easiest-to-follow plan first. Solve one problem with one solution. The shortest distance between two points is always a straight line.
Increase your income by building more solutions
Once you’ve helped that guy solve his WordPress installation problem he’s going to come back to you to see if you can help him figure out how to install plug-ins, and how to use widgets, and how to add a sales page and who know what else. And all because you solved one, simple little problem for him. You’re the expert now!
The great thing about the Internet is that it’s a really huge marketplace – there are thousands of people out there who are all having the exact same problems. And they’re all going to continue to have problems. Learn how to identify and solve those problems and then ‘build’ something you would use to solve them and you’ll see that there’s really no such thing as an over-saturated niche.