You Should Be Building A Niche Ecosystem

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The answer to building a profitable niche is...it depends. The reason is that you can be highly focused and build a solution that solves a sorely needed problem and charge for it accordingly. An example of a one-off solution is for example building a Saas (software-as-a-service) solution that reads PDF documents and converts them to data that can be imported into another solution.

In this scenario, you would not need to build anything additional to create an ecosystem for your niche. You can charge for this service and make thousands per month from this one solution alone.

What should be your other focus?

THe other focus you can have is to build an ecosystem for your niche product or service. Here is what I mean.You have written a book and are promoting it. You build a website to support the ideas in your book and also to promote the sales for your book. You can stop at a book, or you can build a Facebook group where you charge a monthly fee for providing solutions for those that need additional help. You can also create a software that supports your users and their efforts based on the items described in your book. You sell this software at a higher monthly price also known as MRR (monthly recurring revenue). Your next step is to plan an online virtual summit for a higher price

You can create a service where you offer to repair the problem your customer is having for them. You offered your ideas, your customers have bought into the solution presented in your book and on your website and now the easiest path for your customers is to fix the issue for them. This consultation would be billed at a higher price.

What is the difference in mindset?

The difference is in mindset in that you are looking at the entire ecosystem of the products that you can provide and not just a one-off product. You can make money from the one-off product but the opportunities are endless.

At Ultimate Niche Media, we want to help you build these solutions and look forward to your success!

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