in 111 Books in 2011

#40/111: Niche and Grow Rich

What is it about?

Jennifer and Peter Sander show how to find a niche, receive press coverage and write a business plan. I’ll focus on the idea/niche generation because this is the best part of this book.

Key points?

Shrink big markets: Let’s take the cook book market. There are a lot of generic cook books but also a lot of niches, like cook books for allergic persons or cook books for students. You can try this in nearly every market.

Adapt working niches: Take an existing successful niche and try to use it in another environment. For example, Stack Overflow created a niche Q&A site for programmers, today there are Q&A sites for sys admins, cooking or startups.

Update old ideas: This approach is probably a bit harder. You take old ideas and try to change a fundamental key attribute. E.g. Starbucks took the idea of Italian Cafés and combined it with an extreme growth strategy.

Conclusion

The first quarter of this book was pretty good, which covered the idea generation. The rest is sadly a bit outdated and partly too shallow. Though, these tips for finding niches are great!

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