<p>Market Niche to most businesses in a recession can mean the difference between success or failure. One fact about this recession is that everyone will not be able to find a job, many people will have to start a small businesses to survive.</p> <p>It like a ship with 1,000 passengers and only enough life boats for 500 people. Someone is going to have to swim for themselves or at least know how to float or tread water.</p> <p>That's what this recession is like. Some of us will have to know how to make our own income. This is especially true if you read the job outlook according to the U.S Labor Department statistics.</p> <p>The good news is I did a little research on the Depression and I noticed among the financial failures - a lot of businesses that are household names today was started during the depression.</p> <p>How did they do it. For one even in a Depression, they refused to be depressed. Yes, while others were thinking problems, worrying and fretting about their future plight - they were thinking solutions ... all the way to the bank.<br /><br />So be encouraged. The first step to take before thinking about starting a business, especially in a down economy is finding a niche. So, what exactly is a niche? I'm glad you asked.<br /><br />It&rsquo;s simply an unmet, underserved, over-looked or ignored need of a specific group of people. Please don't gloss over those definitions. Let those meanings quietly soak in your head. Why? Because they contain opportunities you may be overlooking rigth now.</p> <p>Here's some quick tips to finding a powerful market niche in this recession.</p> <p><strong>1. The first step is to find a group of specific people (target market).</strong></p> <p>This is important. Most businesses who fail do this last. For example, they develop a product or service and then try to find a target market to sell it too. Wrong! Find a market first, before you develop a product or service.</p> <p><strong>2. Identify a nagging problem that group is experiencing.</strong></p> <p>If you look hard enough every group of people have a nagging problem, that's overlooked, ignored, under-served or neglected. Yes, it's waiting for the opportunist with alert eyes to find them.<br /><br /><strong>3. Find a solution to that groups nagging problem.</strong></p> <p>One of the tricks to finding a solution to a groups nagging problem is to know that group. You've got to genuinely be interested in solving their problem. You can't fake it or just make it about the dollars.<br /><br />Another simple way to find a niche is to do things your competition doesn&rsquo;t like to do. This is the quickest way to find a competitive edge.</p> <p>The good news about the recession is they&rsquo;re more problems to solve. To the alert opportunist problems equals money making opportunities.</p> <p><br />So while others worry about the number of problems in this recession, I suggest you refuse to participate. How? By looking for solutions not just the problems. Remember the niche is in the solutions to the problems.<br /><br />Follow this simple philosophy and attitude. You&rsquo;ll soon find yourself using the obstacles this recession presents as stepping stones. That&rsquo;s what finding a market niche is all about. Now you know.</p> 2009-05-22T13:51:55Z -6.8984 220 4714 true 1 7590 recession-fact-find-a-market-niche-or-perish 1 2009-05-23T00:50:13Z 2009-05-22T16:50:37Z

Discover of how important a market niche is in this recession and what to do to survive. While everyone is worrying and wringing hands - do this and succeed.

1 2009-05-22T16:50:37Z