In this article you will find out why not finding a market niche has so much to do with your low self esteem.

Often when we start in a business we think all it takes is having a great product or service and it will sell itself. If you participate in network marketing that’s what the people upstairs told you, and that’s why you got into the business in the first place. ( they didn’t tell you that finding a market niche is important they told you everyone who breathes is your prospect. Right?)

There are products and services that seemingly fly off the shelf, but in reality the people who own these businesses have done their homework. They know what they have and they know about finding a market niche. They know who to market it to.

Having a great product or service is just one part of the successful sales and marketing equation. The successful sales and marketing equation consists of three parts:

o Having a great product.
o Finding a market niche to market it to.
o And, most importantly, knowing who you are.

In this article, we will look at each of these three components and how low self esteem may be affecting them. We will take the mystery out of finding a market niche and you will get clear on how to find yours.

So to begin with, let’s look at part one of the successful sales and marketing equation: having a great product or service.

Having a great product or service is pretty self explanatory, because usually the way we find our products is by trying them out and falling in love with them. It’s like finding the one ‘right’ person and falling in love with him. You just know it’s the right one.

My opinion is that a great product or service is the one you love. It’s interesting, though, that when we fall in love with the real one we don’t want anybody else to fall in love with him. Weird logic that we think just because we love something so much everybody else will, and it will sell itself.

Self esteem doesn’t get much in the way with part one though.

Now let’s look at part two of the successful sales and marketing equation: finding a market niche to market to. Here is where things are starting to get tricky. Finding a market niche is a two step process.

The first step is doing market research, and the second step is evaluating the data and choosing a target market.

First let’s clarify what a niche and a target market are so we are on the same page.

A niche is subcategory of a market. A market is an overall industry. Let me give you a clear example.

Let’s say the product you fell in love with is a skin care line. The Market you are then in is the beauty industry. The beauty industry has several sub categories, like skin care, hair care, nail care, and even pedi-care. You can break it down even further: skin care for teens, for moms, for men, for dogs, etc.

The breaking it down even further has to do with step two of finding a market niche and determining your target market.

Your target market is the group that is the most interested in your product or service. So in our skin care example, it might be women age 35 and up, mature women (because the younger ones don’t have wrinkles yet), women who are sophisticated and have money to spend on beauty.

So again, step one in finding a market niche is researching your industry, and step two is finding your hot target market.

Sounds pretty straightforward, and it’s probably not obvious to you yet how low self esteem comes into play and messes things up. Therefore, let’s start with market research and you will see what happens.

In market research we are looking for supply and demand. We are looking at who is buying, how they are buying, and how many are buying. We are also looking at who is offering, how many are offering, and how are they offering it.

We want our results to show a high demand (lots of people wanting your skin care) and a low supply (not very many people selling it).

Here is where low self esteem starts to play tricks on you.

Imagine just for a moment, your self esteem is very low, the skin care products you just bought (and you now have a garage full of) you bought in the hope of finally making it and getting from the low zone to the higher regions of wealth.

You now do your market research and you find out that tons of other people are selling the same exact thing and not enough people are looking for it.

Looking at your findings, you start to feel pretty desperate and upset, which is predictable and understandable. You just invested all your savings in the skin care. These results can’t be right! (Because if they are it means you were wrong.)

You start seeing your search results through a filter, which is called denial. This denial will keep you from seeing things clearly and you will not be able to find a perfect market niche.