5 Steps to a Lucrative Niche Business

5 Steps to a Lucrative Niche Business – This Strategy is Effective!

I honestly believe that you are only five steps away from being able to build a lucrative business in the niche of your choice. Are you skeptical about this claim? I do not blame you, but I will share my new “5 Steps to a Lucrative Niche Business” model with you here.

Let’s begin with a niche I wanted to become known in when I began my online business in 2006. This was public speaking and I was scared to death to speak in front of groups. Even though I had been a classroom teacher for twenty years previous to starting my online entrepreneurial endeavors, speaking in front of kids was one thing and speaking in front of adults was quite another. No matter if it was two or three people or a room with fifty or more, I would become physically ill when I was to speak or make a presentation of any kind  I would look for any excuse to get out of it.

Then I realized that I was only hurting myself by turning down speaking opportunities, so at the beginning of 2008 I made a concerted effort to become a public speaker on the topics around entrepreneurship I was writing about. This is what I did at that time that I have since turned into my “5 Steps to a Lucrative Niche Business” training…

1) I made a list of the topics (only two at that time) I knew enough about to share with others. These were blogging and article marketing, and using social media for local marketing and online visibility. Remember that these topics were both in their infancy in 2008, so people either hadn’t heard much about them or were reluctant to blog or sign up for social media. I knew I had to make these topics as interesting as possible, as well as show how they could be beneficial to my audience.

2) I began blogging and writing articles about each of these topics, with each one having yet another spin on what I knew and could share. I created a simple giveaway so people would join my list to learn more about these topics for their own benefit.

3) I created a ten or twelve slide PowerPoint presentation and practiced it over and over so I knew it well. Then I printed it out with two slides on each page and made some notes. I wanted to be ready when/if someone in the audience asked me a question I had not anticipated beforehand.

4) I asked my Rotary Club if I could do a talk about one of these topics. Or rather, I finally said yes to talking in front of our group after they had asked me several times over the previous two years. I ended up talking for twenty minutes about social media for local business, but only had enough time to share Twitter with them from my laptop on to the screen in our meeting room.

5) I hosted a teleseminar for my online community where I shared what I had put together in my PowerPoint slides. I prepared a two page handout to share with them and answered additional questions about the topic of blogging and social media.

At this point, less than two weeks after I decided to focus on my public speaking as a lucrative niche I had made great progress and achieved some notable results. These included:

• People began signing up for my list when they read my blog posts and wanted my giveaway
• My Rotary Club recommended me to be a speaker at our District meeting, where I was able to present to about three hundred Rotarians, many of who had great interest in my topics.
• I became more comfortable hosting teleseminars and hosted them even more on a regular basis, still speaking about blogging and article marketing, and ways to use social media.
• A month later I was asked to speak on these topics – yes, both of them! – by Matt Bacak at his online marketing event in Atlanta.
• I forgot how scared I was when it came to public speaking and began to have fun with my live and virtual audiences.
• I started a mentor program and people began to join.
• I created more products on these topics, this time approaching them separately for greater impact.

As you can see, this “5 Steps to a Lucrative Niche Business” model is fast and effective. I have now replicated this system more than twenty times and my students and mentees are implementing this successfully as well. What questions may I answer for you about this model and how you can use it right away to grow and build your business?

I’m author and online marketing strategist Connie Ragen Green. I work with entrepreneurs to create multiple streams of online income and would love to connect with you. Pick up my Online Entrepreneur’s Blueprint and get started right away.