The Myth of Guaranteed Niche Success: What You Need to Know
The Myth of Guaranteed Niche Success:
What You Need to Know
Takeaways:
- Success in a niche requires genuine interest and passion, not just a desire for profit.
- Building a business based solely on trends often leads to failure and disappointment.
- Don't fall for the myth of guaranteed success in niche markets; it rarely exists.
- Choosing a niche should involve understanding market demand and aligning it with your passions.
- Without a solid product or genuine interest, your business is unlikely to attract buyers.
- The odds of success in an unfamiliar niche are heavily stacked against the average entrepreneur.
Links referenced in this episode:
Transcript
Hello, everyone, everywhere.
Pastor Bob Thibodeau:Pastor Bob Thibodeau here.
Pastor Bob Thibodeau:Welcome to the faith based business podcast today.
Pastor Bob Thibodeau:We're so blessed that you're joining us.
Pastor Bob Thibodeau:Today is day two and we're going into how to choose a niche that just works for you and the one worked best for you at the same time.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:We'll go ahead and jump over here, and we'll jump right into today's part where I want to talk to you about.
Pastor Bob Thibodeau:Don't believe that.
Pastor Bob Thibodeau:Almost a guaranteed lie.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:I mean, these things here are.
Pastor Bob Thibodeau:When you get into online marketing, you're gonna hear all sorts of fabulous things that can help you become a millionaire by the end of the week, if you believe that story.
Pastor Bob Thibodeau:And they'll.
Pastor Bob Thibodeau:They'll make it sound good.
Pastor Bob Thibodeau:And once you give them your credit card and you pay for it, suddenly you realize it's just not what you thought it was.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:I mean, I want you to just imagine that you've created a new recipe for, let's say, a new salad, but it's absolutely disgusting.
Pastor Bob Thibodeau:Nobody would ever, ever want to eat it.
Pastor Bob Thibodeau:Nobody would even want to serve it.
Pastor Bob Thibodeau:Now, you could take that recipe and you can put it online.
Pastor Bob Thibodeau:You can take pictures of it.
Pastor Bob Thibodeau:You can put a price on it.
Pastor Bob Thibodeau:It may be a phenomenal recipe, but nobody wants it.
Pastor Bob Thibodeau:Why?
Pastor Bob Thibodeau:Because it's bad.
Pastor Bob Thibodeau:It tastes bad.
Pastor Bob Thibodeau:Nobody's going to go looking for this online.
Pastor Bob Thibodeau:So you won't have any buyers.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:I mean, that's.
Pastor Bob Thibodeau:That's just the truth.
Pastor Bob Thibodeau:If you don't have a good product, nobody's going to buy it.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:Now, when you're in a position where you can say, I have this particular interest, I want to be able to help people.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:Now, I know there's people out there who need help, but I don't really know exactly what they need help with.
Pastor Bob Thibodeau:Now, if that's you, that's what we're kind of talking about right here, you have an interest and you want to dig a little bit deeper.
Pastor Bob Thibodeau:Now, there's another branch here.
Pastor Bob Thibodeau:Remember yesterday we talked about sometimes you've got this tree and the different branches are coming out.
Pastor Bob Thibodeau:Well, here's a branch right here.
Pastor Bob Thibodeau:That is, you may be in this boat as you're listening to this today, and you've got this great idea that you want to get involved with online.
Pastor Bob Thibodeau:All you want to do is make money.
Pastor Bob Thibodeau:That's the only thing you want to do, is make money.
Pastor Bob Thibodeau:You don't care what niche it's in.
Pastor Bob Thibodeau:You don't care what you get involved with all you want to do is make money.
Pastor Bob Thibodeau:Well, I'd submit to you that until you develop a true interest, you will probably never make any money online.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:I mean, that's just the way it is.
Pastor Bob Thibodeau:People will be able to tell you really don't have interest in what you're selling.
Pastor Bob Thibodeau:Here's another thing.
Pastor Bob Thibodeau:You know, we hear a success story.
Pastor Bob Thibodeau:I mean, you hear them on the radio or on the tv, you know, an infomercial success story.
Pastor Bob Thibodeau:Every so often, you know, somebody will say, oh, all I wanted to do was make money.
Pastor Bob Thibodeau:That's all I ever wanted to do was make money.
Pastor Bob Thibodeau:And I found a friend who was making money in a particular niche and I just copied what they did and oh my.
Pastor Bob Thibodeau:Now I'm making money too.
Pastor Bob Thibodeau:The problem is, folks, to be completely honest, that's a rare occurrence.
Pastor Bob Thibodeau:It's like maybe one in a million, maybe even one in 2 million.
Pastor Bob Thibodeau:The question is, you're building your business right now.
Pastor Bob Thibodeau:Do you want to take a one in a million shot that you maybe might be able to do something that will make you a full time income, that maybe just perhaps do really, really well?
Pastor Bob Thibodeau:Or do you want to be part of a one and two shot, a one and three shot that it's something that you can build and it's solid, something that will last, something that you will really enjoy doing.
Pastor Bob Thibodeau:The thing is, if you're going into business, how can I say this, lord, if you're going into business just for the sake and the purpose of making money with no outside interest in the topic at all, that's exactly what I believe you'll have.
Pastor Bob Thibodeau:It'd be like, you know, somebody who knows absolutely nothing about cars decide to open a auto repair shop because they heard to make a lot of money.
Pastor Bob Thibodeau:I mean, you could hire people to would do this and you still know absolutely nothing about cars.
Pastor Bob Thibodeau:But then how would you know that they're doing a good job?
Pastor Bob Thibodeau:How would you know that?
Pastor Bob Thibodeau:They say they need this particular piece of equipment and it costs all this money.
Pastor Bob Thibodeau:Do they really need it?
Pastor Bob Thibodeau:You have no clue because you have no interest in it.
Pastor Bob Thibodeau:You have no interest in learning about it.
Pastor Bob Thibodeau:And that's exactly what I'm talking about here.
Pastor Bob Thibodeau:Okay?
Pastor Bob Thibodeau:A one in a million, one in 2 million shot at making any money at all.
Pastor Bob Thibodeau:Not just a sustainable income, but any significant income at all takes you desiring to build something that you're interested in, that you enjoy doing, that you have either have knowledge on, or you're willing to learn how to do it.
Pastor Bob Thibodeau:Unless you're willing to stake your family's future.
Pastor Bob Thibodeau:The other 999,999 slots on failure.
Pastor Bob Thibodeau:I think a lot of times when people hear odds like that, they're like, hey, well, one person did it, so why can't I do it?
Pastor Bob Thibodeau:I can do it.
Pastor Bob Thibodeau:Hey, you're right, you can do it.
Pastor Bob Thibodeau:Maybe.
Pastor Bob Thibodeau:Absolutely maybe.
Pastor Bob Thibodeau:But if 999,900, 999,999 people failed in order for that one person to succeed, what we're really talking about, if you want to get down to, is a 99.999% failure rate in that particular niche.
Pastor Bob Thibodeau:You know, I remember hearing one time one of the lottery games a few years ago, it was hitting a billion dollars or something.
Pastor Bob Thibodeau:And we know the figures are something like, you know, one and 179 million of hitting mulatto.
Pastor Bob Thibodeau:There was a report of a man who mortgaged his house, took all of the money and went to something like 50 stores over the week and purchased individual tickets that he had to hand fill out.
Pastor Bob Thibodeau:He had spent all his time filling out every conceivable lotto number.
Pastor Bob Thibodeau:He thought he spent something like a million dollars and lost, lost it all.
Pastor Bob Thibodeau: I mean, he made a couple of $: Pastor Bob Thibodeau:He spent something like a million dollars and only a couple thousand dollars of it is all he got back.
Pastor Bob Thibodeau:In the end, he lost his house.
Pastor Bob Thibodeau:It was on the news.
Pastor Bob Thibodeau:He lost his house all for what he thought was almost a guaranteed chance at hitting it big.
Pastor Bob Thibodeau:He figured if he bought a million tickets he could hit something big.
Pastor Bob Thibodeau:That's what it remember is 179 million to one with the lotto of hitting that big number.
Pastor Bob Thibodeau:He thought if he at least bought a million tickets he'd get more than his money back.
Pastor Bob Thibodeau: get the billion dollars, but: Pastor Bob Thibodeau:Instead he lost big time.
Pastor Bob Thibodeau:In the end, he lost his house, probably his family, all for the chance, just the chance of hitting it big, but didn't.
Pastor Bob Thibodeau:Is that how you want to try and run your business?
Pastor Bob Thibodeau:I pray it's not.
Pastor Bob Thibodeau:I really do.
Pastor Bob Thibodeau:That's enough for today.
Pastor Bob Thibodeau:I just want to talk to you about.
Pastor Bob Thibodeau:Don't believe the hype in this almost guaranteed thing, right.
Pastor Bob Thibodeau:You don't want to do that.
Pastor Bob Thibodeau:Focus on real needs, focus on real passions.
Pastor Bob Thibodeau:Avoid that guarantee success hype that tries to motivate you to go out and buy all this stuff.
Pastor Bob Thibodeau:Because unless you're willing to put the work in into something that you're truly interested in, it's just going to fail.
Pastor Bob Thibodeau:99% chance it'll fail.
Pastor Bob Thibodeau:But we're going to continue with our next next session here.
Pastor Bob Thibodeau:You don't want to miss it.
Pastor Bob Thibodeau:It's called collecting those boogers.
Pastor Bob Thibodeau:What?
Pastor Bob Thibodeau:Yeah.
Pastor Bob Thibodeau:You got to come back and find out what that's all about.
Pastor Bob Thibodeau:Amen.
Pastor Bob Thibodeau:Praise God.
Pastor Bob Thibodeau:I enjoy sharing this with you.
Pastor Bob Thibodeau:I hope you got a lot out of it.
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Pastor Bob Thibodeau:By the way, that's where all these videos get put.
Pastor Bob Thibodeau:Till next time.
Pastor Bob Thibodeau:This pastor Bob reminding you, be blessed in all that you do.
