15 Keys To Creating Successful Niche Products And Services

Fact: The person who finds or creates a special niche gets the cream of our societies financial rewards. Whether you're Bill Gates or Joe Average.

The niche, and the person who creates them, is the main factor that separates one product from 12 others. The Internet is getting more crowded and competitive by the day.

The solution is to consistently improve your product or service ... and focus on the following "15 commandments" of niche creation at all times. Observe the ones you can apply to your business, product or service - and watch your profits soar - despite razor tough competition.

Warning: Read this article with a paper and pen in your hand or you'll risk losing a possible breakthrough idea. You should ...

1. Write down any and all ideas that first come to you without judging. Write Everything.

2. Next review what you've written and edit out the best ideas. You should find at least one do-able idea you can act on.

3. Then take Persistent action. (Remember the difference between a goal and a wish is that you're willing to persist).

5. Routinely review the 15 Key's and fill in the blanks. The more you'review it - the better ideas you'll get. Try it for 30 days - your life will never be the same. Can you say Cha-Ching!

15 Keys For Creating A Wealth Pulling Niche Product or Service

(In alphabetical order)

1. The Principle of "Adaptation" - The easiest way to create a new idea is to do what others in another business or industry is doing successfully. Next, see if you can adapt elements to your own business, product or service. I can adapt _______ to my product/service.

2. The Principle of "Addition" - Can you add something extra to your product or service that your competition doesn't have or isn't doing? I can add _______ to my product/service.

3. The Principle of "Combination" - "What positive elements can you combine from another product or service to make yours better?" A candy bar did it with simple peanut butter and chocolate, and made a successful new product. So can you! I can combine _______ with my product/service.

4. The Principle of "Customization" - Can you find little ways to personalize a part of your product or service for your customers? People love the personal touch - that means so much. Can you make your product or service more personal and less cookie-cutter in some way? I can customize _______ in my product/service.

5. The Principle of "Easier" - Can you find more ways to make your product or service easier to buy, use, own, recommend to others or attract repeat customers? I can make _______ easier for my customers.

6. The Principle of "Elimination" - What negative or inconvenience can you eliminate for your customer with your product or service? Today people not only pay extra for more, they'll pay extra for less. Less irritations, less waiting, less inconveniences, less risk, less pain, etc. I can eliminate _______ for my customers.

7. The Principle of "Enlargement" - Do people like your service or product? Then it's a sure-fire bet a segment of your market would like even more of it. Can you super-size something? I can offer my customers more _______.

8. The Principle of "Entertainment" - From cradle to grave, we all have this inner urge to be entertained, amused, or fascinated - especially before we spend our money. A relaxed customer spends more. Find little ways to amuse your customers before, while, and after they buy your product or service. I can make my customers feel more relaxed by _______.

9. The Principle of "Longevity" - It's making some feature of your product or service last longer. It can also include making a positive experience or feeling last longer. I can add longevity to my product/service by _______.

10. The Principle of "Portability" - People hate to be tied down. Can people use your product or service in more than one place? Or Can you find a way to take your product or service to your customer instead of them having to come to you? I can make my product or service more portable by _______.

11. The Principle of "Reduction" - If you sell a product or service, is there any way to reduce a certain feature to make it more convenient? More portable? Easier to store or carry? Or easier to use? Can you'reduce it and make it more affordable? I can reduce an element of my product/service by doing _______.

12. The Principle of "Reversal" - Look at what features or services your competition is offering or not offering and reverse them. If they close on weekends, can you be open? If they cater to seniors, target more young people. Or if they cater to high-end customers, target more low-end volume customers, etc. I can reverse an element of my product or service by doing _______.

13. The Principle of "Safety" - Show others how your product or service can add safety or reduce risk. People hate to experience loss, feel insecure, or waste money. Try to think of little ways you can help people avoid the above with your product or service. I can make people feel more safe by doing ________.

14. The Principle of "Speed" - Today more than ever people hate to wait. You should always be thinking, "What could I do faster than my competitors - without losing quality?"

Can you fill your orders faster? Can you give faster service? Can your product get faster results? Can you'resolve customer issues faster? Can you ship your orders faster? Think speed! I can do ________ faster.

15. The Principle of "Yucky" - A billionaire once said the secret to success is to be willing to do what most people don't like to do. So find out what people don't like to do, find irritating or disgusting, and charge them to do it. If you have a business, find out what your competition doesn't like to do for their customers and you start doing it. You could literally steal customers from your competition overnight. Try it. I will do what my competition doesn't like to do, I will _______.

Did you take the time to fill in all the blanks. If you did you should have at least one (maybe more)idea you can act on. If you didn't beware! Your competition may be filling out the blanks you didn't bother to answer. And it's a sure-sign you may be neglecting hidden opportunities.

By following the above suggestions, you'll be able to create powerful money-making niche products and services. And have a bullet-proof formula to consistently improve your product or service for years to come. God Bless!