Did you know that the top 1% of earners in Australia make more money than the bottom 99% combined?
That’s a pretty big gap.
And it’s not because the top 1% are all working harder than the rest of us. In fact, most of them aren’t.
The real reason the top 1% are so wealthy is because they’ve figured out how to make money in a niche market.
A niche market is a small, specific target audience that has a lot of money to spend. And because there’s less competition in a niche market, it’s easier to make a profit by being able to charge a premium price.
If you’re looking to make more money, then you need to start thinking about how you can serve a niche market.
Here are a few tips for getting started:
- Identify your interests and passions. What are you knowledgeable about? What do you enjoy doing?
- Research different niche markets. Once you have a few ideas in mind, start doing some research to see if there’s a market for your product or service.
- Create a niche product or service. Once you’ve found a niche market, you need to create a product or service that meets the needs of that market.
- Market your product or service. Once you have a product or service, you need to start marketing it to your target audience.
Making money in a niche market isn’t easy, but it is possible. If you’re willing to put in the work, you can achieve financial success in a niche market.