The Micropreneur Methodology for Niche Evaluation
The Micropreneur Methodology for Niche Evaluation
The Micropreneur Methodology is a framework for evaluating the viability of a niche market. It's based on a core principle that is fundamental to the Self-Funded Startup Focus:
Fill existing demand, don't create it.
Creating demand for a new product is an expensive and time-consuming process that is best left to large corporations with deep pockets. A self-funded startup, on the other hand, should focus on finding a market that is already actively looking for a solution to a problem.
This methodology is based on the idea of "reading the market's mind" by using the internet as a vast source of market information. It's a low-cost, low-risk approach that allows you to determine in advance if there is a real demand for your product idea.
The core of this methodology is to find a group of people who need your "something" more than they need the money you are charging for it. By focusing on existing demand, you can significantly increase your chances of building a profitable and sustainable business.