how to find WILDLY profitable niches (part 1 of 2)

Hey Thomas,

Lemme share a personal story with you involving
iTunes and how it'll help you make more money by
uncovering wildly profitable niches.

5 months ago, I was searching on the iTunes
App store for a solid expense tracking app.

(I wanted to, finally, keep track of all my ins
and outs)

I was lazy and I didn't bother to track where
I was spending and how I was spending my money.

And, as you already might know, one of the KEY
tenets of making and keeping wealth is knowing
where and what you're spending your money on.

Anyway, I bought an app for $4.99 called 'cash
trails' and also downloaded 10 over budgeting apps
trying to find the 'perfect' app.

I used them all initially but slowly find myself
deleting 90% of them.

All of them seem to have some flaws here and there.

In the end, I thought to myself "what the heck,
why don't I create one myself??"

Fast forward to April 11th 2012. My finance app
called 'Budget Donkey' is released on the app store.

You can download it for free here:
http://itunes.apple.com/us/app/budgetdonkey/id509465333?mt=8

Already it has hit #50 and #100 of the finance
app charts for Azerbaijan and my own country
Singapore respectively.

So what's the point in telling you all this?

Because there are *5 KEY lessons* I want to share with
you about finding wildly profitable niches:

Lesson #1: Market research doesn't always means
Googling.

Niches, wildly profitable niches are all around
you...

Many 'problems' or 'situations' you face everyday are
potential niches waiting to be mined, improved on or
brought online.

In the my example, I knew there was a demand
(and also gap) for a clean, simple, non-complicated
finance app and I swiftly moved in to develop one.

Have you ever wondered what toxic chemicals
are there in your hand soaps? Wished you knew what
toxins are there? (Hand-soap info site?)

Do you have kids? What are some of the problems
you face when feeding your kids? Do you've a way
to solving some of the issues? (Info product for
feeding children?)

The point is, not all niche research needs to be
started ONLINE. You should always validate
it online but it need not start online.

Lesson #2: Do your market research well and
in great depth.

When I decided to create my finance app. I went
CRAZY.

I downloaded almost all the finance apps there
was and I trawled the iTunes stores reading
100s of reviews finding out what people were
praising and criticizing.

In my research, I found that there were a good
number of people who wanted a SIMPLE, CLEAN
and FUN interface.

This is intel that I wouldn't have found if I just
'did it' without any research...and it proved
invaluable.

Taking that into your niche or potential niche,
have you done enough to find out the needs, wants,
fears and dreams of your target market?

Can you hang out in forums or places (even offline
ones) where your target audience hangs out?

Answer: Yes you can. And you should!

Lesson #3: Think value.

When I created my app, all I thought about was
creating a good finance tracking app that people
will actually use and like.

Monetization wasn't even in the equation.

If you set out to spend most of your energy and
time thinking how you can milk the most money out
of your niche - I've to say you're taking the
WRONG approach.

True, you should always think about monetization
BUT just not in the initial product or info creation
phase.

Look, Instagram (even till now) didn't think of
any monetization method. They just focused on
delivering massive value to their user.

They worked to improve user experience and in
value adding.

Just this month, they got sold to Facebook for
$1 Billion dollars didn't they?

Dito Facebook. FB ads were not introduced until
the later years of its growth...which by then had
already been monstrous.

Key takeaway is this: you should focus on delivering
value first. Ask "What kind of content, product or service
will make people LOVE/LIKE my stuff?"

And with that, we've come to the end of today's lesson.

I hope you can check out the 'Budget Donkey'
app and give me your honest feedback :)

To your niche success!
Dylan Loh

P.S. I know I mentioned I'll reveal FIVE key
lessons but I only gave away 3 today.

I'll deliver the other 2 lessons tomorrow. Trust me,
it's worth the wait.

It'll change the way you view niches forever.

Message Sent From, 16 Mohamed Sultan Road #04-01, 238965, Singapore

To unsubscribe visit:
http://app.getresponse.com/unsubscribe.html?x=a62b&m=888f&s=wHSOb&y=W&
To change your contact details visit:
http://app.getresponse.com/change_details.html?x=a62b&s=wHSOb&y=b&