It is really a hard thing to do generating ideas that pay money just from your head. But you can easily generate ideas from many sources including experience you earned directly and those of other people. We have explained this before.
But you will do much better if you will master several niche areas you can explore while trying to generate your saleable ideas.
What is a Niche Market?
A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. It is also a small market segment. It is a small but profitable segment of a market suitable for focused attention by a marketer. Market niches do not exist by themselves, but are created by identifying needs or wants that are not being addressed by competitors, and by offering products that satisfy them.
So you are expected to think for problems or challenges that people face every day and need urgent attention as solutions. You can start with some challenges you had in the past overcome. It could also be the ones you are presently overcoming.
Let me illustrate.
If you had once faced with diabetes and did conquer it, you are sitting on huge wealth. Reason? People are served everyday with the information that diabetes does not have a cure. While this may be correct, you might be surprised that something has improved somewhere and yet people around do not know. It’s also possible that a particular herb or fruit or back of a tree had never been tried on local people to heal diabetes and you just stumble on it and lo and behold your diabetes is gone. It is also possible that someone recommended that to you and you tried it and it worked.
This is a beautiful product for you because there are millions of people on earth, in Africa, in Nigeria, around your state, near you that need healing for diabetes. These will gladly pay anything to conquer diabetes.
Do you even need a personal experience?
No! You can seek to research about people’s problems that need solution immediately and once you find answers for them, you are on money. People are too lazy these days that they may not find what they want by themselves. You don’t need to suffer from diabetes or a member of your family suffers diabetes before you can seek a solution. You are simply seeking something that will make you money.
- People are too lazy these days to research on their problems
- People are handicapped on getting information from where it is
- People do not know how to find information
- People are discouraged by emotion to looking any further when problems perplex them
- People are fed with “it’s impossible” jargons that they give up trying
- People are so busy that finding extra time for solution to their problems is hard.
These and more other reasons are why any information you can make to solve the problems will be highly appreciated with cash.
It all depends on what you are interested in or what you have absolute knowledge about.
Look at this
Assuming you retired from a Radio Station service and now you are reading this information and want to practice it, you can write a small report like this:
- How you can get Radio Interviews without paying a dime.
- How to advertise any product, information, and event, do jingles on Radio Nigeria without paying for it.
- How you can advertise your stand on trade fair on Radio (Station near the trade fair location) without spending half the advert rate.
- How to advertise your product or information or business, or service during news time of any radio station free and people will take it part of the news and act quickly.
Now get this,
I am putting in a scenario that may not be totally realistic but possible. You alone will know what works in the chosen Niche because you are highly interested in that and will research for something that people do not know that it’s possible.
We gain from knowing things that people do not know they are possible. Find them and profit from them anytime.
Let me give you another instance.
Some years ago, entering the university was far hard than now. So I started looking for a way to break that jinx and make money out of my knowledge. You know what I found?
Tuition Free Universities abroad that do not need JAMB!
Honestly I tripped for that idea. I only prayed that it’s true and works. Before long I applied and followed the details until I was offered admission. But I knew I was not going. I also used a lower age (18yrs) to make them accept me. So after confirming it was possible, I wrote down a book and made it into a CD. I went to Exam preparatory centres and advertised a seminar where I will sell the CD.
My take off question will be “Will you accept a University in London if you are offered admission to study for free and the only requirement is 5 credits in WAEC? Guess what, everybody answered yes. But they will add their own question. “But sir is it possible?”
Then I will give them a small flyer inviting them to listen to an expert who will show them that it is not just possible but will deliver the names of the schools and their websites for their contacts. The expert will also give them working clues on how to beat the embassies and how to deal with accommodation stress.
The seminar was 2 weeks ahead. The information was packaged for N1,000 but the seminar was free. They were told that there are over 100 schools offering this service and the CD contains every detail about them. The CD also contains information about Visa processing, about Lifestyle, about accommodation, etc. This last information quickly prepared the target audience to show at the seminar with money.
The seminar day, 285 students parked themselves up in a small hall for this seminar. The hall was to accommodate only 120. These were people whose parents wanted a relief from staying at home and also from the fear of paying fees but did not know that such free education was accessible.
But I did something to check the challenges of the small hall. I now announce that because of this huge population that want to be part of this programme at the same time, we will select from the most serious of them. How? “You will now need to buy the CD before we can start the programme and it will be on first pay first served service system. In less than 30 minutes, 120 people have paid and others were struggling to pay too. Same day we ran 2 sections comfortably within 6 hrs. And I made cool money. But the question is: who was the expert that will teach? How did he attain the expert status? Well you know the answer to the first question. And the answer to the second is that I attained that status by looking for solutions for people’s problems and making my result available for sale to them.
Below is a short list of niche areas that can make you quick and huge cash if you can deeply explore them:
- Sex matters, Love, Dating, Giving birth, Being pregnant, Getting married,
- Family Matters, training children, pets, coping with difficult children, etc
- Money matters, paying debts, buying things less expensively, getting things for free, making more money, etc
- Employment, jobs, getting a better job, getting an easy job with extra time, working from home, getting a pay raise, working with multi-national companies, etc
- Lifestyle, food, stop smoking, control diet, watch weight, feat in cloths, beauty therapy, fashion, etc
- Education, schooling, paying for school, getting it free, admission matters, schools without strike, cheaper private schools, etc.
- There about everything in life we can build our Niche from find yours and develop your product from there.
Get more tips:
- A retired government worker will know how to assist people get government contracts
- A bank staff may know how to help people access loans without a collateral
- A retired school principal may know how to help students pass WAEC or how to help job seekers gain employment in public schools.
- A retire Dangote Cement staff may know how someone can easily become a Dangote cement distributor without initial cash deposits
- You may know how someone can go into rental business and make huge money from organizations that will do celebration
- You may have ideas of what retirees can engage in as business
- Have you achieved something others still find difficult achieving? Then you can sell your information that assisted you in doing that. For example, were you able to teach your 3 year old daughter to read? Then you will notice that most of the children of your neighbours can’t read at that age. This is a problem you can solve to make money so you can put it down to earn money.
- Name it, you may know something. That something is what can make you money if you follow all our advice here.
You may visit some websites to generate ideas if you can use the internet. I recommend www.mytopbusinessideas.com.
For sure I know you can generate your own ideas now.
Let’s go to how you can organize those ideas for business purposes.