And while following this simple 5-step process is no sure-fire guarantee of success, it is your best bet to dominate over your competitors.
Focus on what sells in the marketplace. Look for evidence that people are willing to buy -- and have been buying -- the information that you plan to publish. There are numerous places from where you can get this confirmation. Bestsellers lists such as that of Amazon.com are excellent places to start. See what people are reading about, what they find interesting. There are bound to be a few topics that stand out, so write these down in a list.
Choose one target subject matter. You need to cull your initial list down to a single topic. Your choice will depend on a number of factors, including your expertise, the information that is available and accessible and what is hot in the marketplace, among other considerations.
Study the competition and determine what you can do better than them. The best sources of these types of information are the community boards and forums where people air out their sentiments about specific brands and providers. If you can gather enough of these feedback to paint an accurate picture of how your competitors are faring, it makes the next step a lot easier.
Look for similarities and trends in the competition and find where the gaps are. Lay all your competitor information side by side and analyze where the patterns form. This gives you an excellent bird’s-eye view of what your competitors are all doing redundantly. But the jewels that you are looking for are what none of them are paying any attention to. These gaps are where your opportunities lie.
Pick the largest gap, do your research and create your information product. Focus on the most significant gap, presumably the one that can most significantly affect the industry if addressed -- the game-changer. This is your “sweet spot” and the specific subject matter for your upcoming information product. Learn all you can about this, organize your facts, craft your content and package this as your next product offering.
If you have done each of these five steps correctly then by the time you get to this point you will be offering a product that features a unique approach to a highly relevant topic that no one else has paid attention to and that people are willing to spend on. Do this consistently a few more times and you will be the dominant force in your market niches.
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