Selecting the right target market is key to being successful with the marketplace. The right niche will depend on whether you have 1. the resources which includes the talent and network for this market 2. your knowledge. Do you know enough about this market to speak the language? 3. passion for this domain. Are you passionate enough to go the extra mile? 4. demand for your service. Are people hungry for this service? 5. segment of the market. Are you targeting a small profitable segment of a huge market?. 6. competition. Is there enough differentiation from the competitors 7. profit margin or volume. Is there a fat margin, otherwise can you expect a huge volume? 8. a perennial niche - is this a fad that will die soon?
Choose wisely and your marketplace will flourish.
Usha at Wanteet, Inc