your marketing communication, you can assume that everyone in the niche has specific knowledge that you can build on. Not only does this allow you to be precise in your communication, but it will also show that you know what you’re talking about; that you are one of them.

For our teacher market, where we focused on solving their productivity problems, one could imagine offering additional products that engaged the other issues that self-employed teachers might have, such as scheduling or tracking their invoices.

Aim for equal size or smaller.

In the best case, this will be the critical problem of everyone in the niche, and your product will ideally solve it well enough for your customers to tell everyone they know, and allow your product to sell itself.

Determining the size of our audience is a rather work-intensive task, but absolutely required before you decide to invest your time in starting a business in a market.

In general, a good niche size will allow you room to grow to your Monthly Recurring Revenue goal and still leave space for a few competitors.

If you think that you can make a good living with whatever business model you decide to use, the niche is right for you.

Determining the Size of a Market

An interesting perspective on niches is that you can also look at what a niche does not contain. By defining things that you don’t expect to see in your niche, you have access to exclusionary filtering as well.