From $700 dollars start-up capital to a $1 million dollar business....

Hi Paul,

Here's my own personal "take" on this....

One of the areas where you find high-growth businesses are those which target "niches." I think this unicycle business was a really good example of this.... The great thing about it, too, is that you don't usually need much money to do it!

By a niche I mean a very specific market, perhaps of hobbyists or something like that. People with a very specific interest....

WHY this works, I believe, is because if a niche is small enough, the demand will be there, but there will be little or no competition. And the internet is the perfect way to target a niche market....

At first, I think you don't even need a web site (though having one would help). You could first let people know what you have to offer by posting in newsgroups, discussion groups (like this one), or various "clubs" etc. online which are about that niche.... The way to do this right is to take part in the discussion, and leave your details as a little "signature box" or "link" at the end of your post. (People in most groups are very sensitive to unsolicited advertising, so you have to spread the word about yourself in a sensitive and polite way....) Notice that's how John Drummond started, by posting on newsgroups devoted to unicycling!

You can also do this with ebooks, books, or newsletters.... You can write a book or newsletter on a niche topic. It will probably be much easier to sell than something which is competing with hundreds and hundreds of other info-products out there.... You may even have the whole area to yourself. Yet a small niche can still make a nice income.

Any other comments about targeting NICHE markets?

- Dien Rice