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Create a new niche or tap into an existing market
If you had any advice for a freelancer or someone who is looking to startup - would you suggest that they spend time finding a new niche that has not been explored as much or try to find a small slice in a market that has numerous players - because that will help them learn from someone who has already done it and replicate that.
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@repreneur hmm that makes sense although I still have the fear of entering a saturated market. But then again no one can say for sure when a market is saturated.
Both are not opposite. You can create some niche in an existing market by doing things your way.
If you are the only one offering one type of service or on type of pricing you can easily secure a niche for yourself within an existing market.
@alex_leroy Sure, that makes sense. You are essentially pointing at differentiating yourself in some way even in a market with a large number of players. I am I getting it right?
@alex_leroy @yeshaswini sometimes it's as simple as serving a particular demographic and focusing on their biggest pain point rather than exploring multiple pain-points.
Either works, though think of it this way.
- Is the new niche something thats interesting and you really wanna get into it, or do you just want to do it because it seems it'll get you traction.
If it's just the traction you are after, then you gotta make sure you've got a good amount patience cause it can get both frustrating and depressing if you're forcing yourself everyday to get it to work.
If it's something that really interests you then the above mental block would be rare since you already like it, there's definitely going to be moments in both cases where you'd wanna stop though.
@sid_gelera That's a great way to look at it. Thank you so much. I think I am focusing more on the externalities than what I can bring on my merit.
@yeshaswini That happens,
End of the day, no one has a perfect working formula it's either going to be a success or a lesson
Generally speaking, I find it's easier to focus on a new niche than it is to stand out in a crowded market, speaking from my experience developing iOS apps.
@justin_hopkins Exactly I agree, although I haven't experienced it first-hand. Would love to know more about the apps you created. Do direct me to some of your work. Thanks!
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