Find a Niche If You Want To Grow Rich
You’ve almost completed your 52 weeks and in this week’s lesson it is about taking a step to increase your income and growing rich and wealthy. Most people want to have a lot of money but it is not about the money it is about the why do you want money? It is about what the money can do for you. But that is a whole other lesson.
One of the easiest ways to get rich is to find a niche that you are passionate about and exploit its every nook and cranny. You are only one idea away and one key contact away from your personal fortune. Your personal fortune always starts in a niche.
One thing you want to become is the big fish in a niche and then you can grow that same template into other niches along the way if you choose to.
A guy by the name of Alex Carroll had a problem. He was one of the fastest moving couriers in his city. The problem was that he was also the biggest collector speeding tickets. Several times he came just inches away from losing his license for a long period of time. Alex came up with an idea.
He started interviewing police officers everywhere to figure out how to beat his multiple speeding raps. In fact, he did beat his speeding tickets every single one of them. He didn’t stop there however. Alex had a sudden inspiration and at the root of his problem he discovered an opportunity.
He compiled all of his interviews from police officers into a book form entitled it “Speeding Excuses That Work.”
He quickly printed several hundred copies of this small book. The next thing he did was start calling radio personalities and program directors everywhere and offered to tell radio listeners how to beat their own speeding tickets. Within days he was doing interviews. In weeks, he was making it to the big time selling as much is $40,000 in books after just 15 minutes on the radio.
Why did he become so popular? There are more than 170,000 speeding tickets issued every single day in the United States. Alex Carroll had found his audience. He made millions of dollars on one simple idea. We can say that Alex Carroll created a niche for himself.
THIS WEEK'S ACTION STEP
Here is this week’s personal exercise:
The chicken soup for the soul book model became number one generally and then became number one specifically by Mark Victor Hansen and Jack Canfield creating books such as chicken soup for the teacher’s soul, chicken soup for the mother so and many, many more.
Here are a few ideas as to how to track down your specialty niche.
Start by choosing a niche based on your money needs— go into this with a plan. How much money do you want? How much money do you need to make the time worthwhile?
Look for a problem that needs a solution that no one seems to be solving— if you look hard enough you will find situations, problems and huge roadblocks everywhere. Rather than letting that stop you, drive on through with a solution all your own.
There are many structural changes taking place and when there is a structural change there’s a need for a new niche— what is a structural change? It is a fundamental shift. It’s important that you keep an eye on structural changes that are occurring daily in the news because most money is made in times of crisis and calamity, when a structural change is underway.
Look for a niche within a niche.
Sometimes you can sneak up on a niche— marketing wiz Jay Abraham says, that is what we call a preemptive marketing. You put the word out that you’re already the leader and that is just what you become. You are making yourself the expert, a most wanted commodity and the pathfinder who’s suddenly blown past your competitors.