It has been said that the Internet is the great equalizer where small business can compete with giants of industry. Unfortunately, it is not that simple. The key to succeed online is to find the right market. While the Internet has done a lot of equalizing, it doesnt mean that you should try to compete with the Wal-Marts of the world. If Wal-Mart can afford to sell a digital camera for $50.00, it is unlikely that you will be able to compete.
Your goal shouldnt be to compete with giant corporations. Instead seize the markets that are too small for them. Yes, there are more niche markets than you need. The perfect niche market is small enough so large companies will ignore them, but big enough to support your business.
An excellent example of a niche market is wedding favors. Dont laugh. Its true. When it comes to the bridal market, most people think of the big-ticket items such as the bridal gown, the ring, catering, etc. Wedding favors make the perfect niche market. Think about it, you dont need a storefront, because you can ship to all US states. Retail stores are unlikely to carry favors because they are low-ticket items. Many favors are personalized that makes...
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