I haven´t watched the second part actually. I just finished taking notes on the first one. This is what I got thus far...
Most of the first video Miles goes about several strategies/methods of how you can brainstorm niche ideas and how to validate them before making a decision about what niche to choose.
Particularly, I like a lot the brainstorming part. It surely helped me brainstorm a shit bunch of niches, interests, and hobbies I wasn´t aware of.
Miles begins by stating there are 3 types of markets/Industries...
- PASSIONATE - Denotes hobbies that have turned into some form of obsessions. For ex., fishing, golfing, woodworking, etc.
- LIFESTYLE - These are people who self-identify with external activity. For ex, parenting, your own profession, vegan, cyclists, pets, Crossfit, etc.
- PROBLEM/SOLUTION - These are people who are in need of something or need to make a change. For ex., weight loss, acne, diabetes, smoking, etc.
After you figure out the industry/market you want to dive in, it´s time to focus on a NICHE inside that industry or market.
For example…
- Photography > Portrait Photography for Parents
- Weight Loss > Weight Loss for New Mothers over 30
- Golf > Helping Women Hit Better Tee-Shots
Then he goes into developing many different ways to brainstorm niche ideas...
- Imagine you´re on a plane and you had to choose a magazine to read/browse for a couple of hours...What topic would you choose? (Go into magazines.com and take your pick)
- What are you really good at? Do you have any particular skills?
- What topic do you know a lot about that most people don´t understand or find difficult?
- What do you see as meaningful that is often underrated or overlooked?
- What is the 1 habit you believe people NEED to implement to their lives to make them better?
If it nothing "hits" you then he continues exposing more ways to brainstorm niche ideas...
- Write down your most recent "big" purchases
- Which amazon/eBay category you find interesting?
- Which indoor/outdoor hobbies "light the fire" for you?
- What about your persona? What professional and life experience do you have?
And this is all I have at the moment. The second video is supposed to be about how to validate those niche ideas. I will let you know what I find there
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