By that I mean I have been learning all I can about building niche websites and monetizing them, the softwares i would need and the research process involved in this type of business.
I had a great time because I naturally, love to research. I dug into information from the early 2000's till date. I dissected the old business model used as well as the new and compared them to see the difference. My findings revealed that the fundamentals have not changed a bit but the methodology has evolved with time, technology and the sophistication of the modern day internet user.
I also did a lot of listening to interviews from some of my "mentors" and gleaned a lot from guys who are still making a lot of money from this online business model till date - especailly their mistakes and what they have been doing right.
One thing I learnt about running any online business, actually two things are:
1. You must research - your niche market, the demand, the supply, cost involved, competition, how need to make to run a profitable business and give them what they want.
2. You must test your findings in dollar numbers as well as your approach and test and tweak and test and tweak till you finally get the right way to do things
and yes a major third lesson is:
3. You must automate
Most importantly of all, you must follow the market, which is the foundation delving into all the three steps listed above in the first place.
All other things are the new ways of doing stuff which was different from one "guru" to another. This part was actually where I realized that the information I had immersed myself in was beginning to paralyse my mind.
I deduced that it's all about learning the ropes and then finding out what works best for you.
For now, I have laid out my own tactics all the while abiding by the basic tenets of niche marketing. I'm in the process of taking action now and putting into practise all that i have studied.
I know I will do well but I will start with the very simple model I learnt from an internet niche marketer which doesn't confuse me in any way.
When I made this decision, I was already feeling like an information junkie and a "guru" prostitute or as the Americans will say hooker.
Great to be back to post on this blog. I will definitely update you folks about my progress. For now, ciao.
QUOTE OF THE POST
"Know how thongs work and then find your own way" - Segedoo