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Laying
The Foundation To Create High Demand Niche Products And Services
Brainstorming- Part 10
4. Did
It Fall Below
Your Expectations?
If the new niche idea fell below your expectations, here are a few
areas you should
check in to improve your results. The last thing you should consider is
dumping the idea.
First, take time to consider the following adjustments and try again.
After all, you came up with a niche idea, plus gave it your valuable time
and effort. Don’t you think you’ve invested too
much to give up with just one or two attempts?
Think adjustments.
Even if the results of your niche idea fell below your expectations,
you know the potential is there. Especially, if you’ve
followed the checklist in the previous pages.
Some further areas you should focus on are ...
A. Marketing
1. Are you sure you were marketing to the right target customers?
2. Did you market your new idea enough to your target customers?
3. Did you take the time to get feedback or surveys from your target customers?
4. Did you make the necessary adjustments?
B. Time
Did you give your niche idea enough time to work? According to
extensive market research, it takes 6 to 7 times for a person to be
exposed to a new idea before they’ll accept it.
Many times a new idea is expected to be an instant success. This is an
idea that makes for good movies scripts for Hollywood, but
it’s not reality in most cases.
You’d be surprised to find out that most Fortune 500
companies found their first results were far below
expectations. Companies like Ford, Honda, McDonalds, Edison
Electric, Microsoft and a host of others.
So, if your niche idea fell below expectations your in some impressive
company. Don’t despair.
At this stage, the important thing to ask is “can I make the
necessary adjustments to make my niche idea succeed?”
To make
the necessary adjustments takes time. So, ask yourself before you toss
your niche idea in the trash, it may be a treasure. Did you give it
enough time?
Like a football coach, whose team falls below expectations.
Look for areas where
you can make adjustments.
But after close examination, what if you
still can’t see any adjustments you can make? Then read the
next section and follow the suggestions. Next
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