Last updated on August 31st, 2021. Posted in Find Your Business Niche.
The internet made possible something called The Long Tail. This is an economic model detailed by Chris Anderson in his landmark article and accompanying book of the same name. You can probably skip his book, but the article is a must-read. So...
Here are links and resources mentioned in today's video. Enjoy!
I'll leave a link in the Show Notes below for you.
Now I don't want to spill the beans too much, but the gist of The Long Tail is this: As we know, the internet has fragmented and flattened things out. This means a large number of Consumers have shifted their attention away from the mainstream.
Cable television, Top 40 music, big retail, and so on are not the mass market giants they once were. Instead, consumers have turned their attention to more specialized options -- products and services and entertainment and so on that are a much better fit for their needs and interests.
Now, consumers have choice. Every industry, market, genre, and area of interest is getting flattened out and fragmented into smaller and smaller sub-categories. And what this means is, consumers now have infinite choice and unlimited options.
So what does this mean for those of us with business ambitions? It means we don't need a big audience. It means we don't need to go viral. It means we don't even need to become well known. Let others with less integrity sell out to the mainstream.
That's a zero-sum game of low probability that we aren't interested in playing, anyway. Instead, we can dial in on a specific group of people, serve them extremely well, and build a business that supports our lifestyle in the process. That's the opportunity we all have.