Identify niche markets using AI

Hey Prompt Entrepreneur,

There’s one way to stack the odds of business success in your favour:

Start niche.

This advice is well documented:

• 1,000 True Fans
• Zero to One
• DotCom Secrets

And rightly so.

Whilst it’s tempting to want to go broad and take over the world…

…Start with a niche.

There’s truth within the modern cliche ‘riches are in niches’.

So how do you find a niche within your broad business interest?

Over to our 🤖

Ahh wise human.

You have come to me to find a niche.

Allow me to be your business strategist to help you discover new and exciting markets to enter or expand into.

First you’ll need ChatGPT by Open AI. Don’t worry, it’s free.

Download mobile app or go to the web version.

Then let’s start prompting

Copy and Paste this prompt:

Act as a business strategist. You are helping me discover new markets to start or expand into. Tell me the niches related to [business area] with a brief summary of each. Focus on untapped, high potential, low competition niches to help me generate quality product and service ideas.

[business area] = board games

Personalise the Prompt:

Add in your business area, replacing board games. Unless you make board games – if so you’re good to go!

Experiment with keeping it broad (ie. “investment”) and narrow (“Mortgage REITs”) to see what different responses are given.

Output example:

Prompt Pro:

• If you find a niche that you are interested in ask ChatGPT to give you the related sub-niches to get even more granular detail.
• Ask ChatGPT for the market size of the niche to get an idea of how big a niche it is. Be aware ChatGPT won’t have info after a certain date but can still give you rough figures.
• Ask for the main competitors and their websites to get a basic understanding of others in the market.