I have to be honest with all of you. Finding niche online business ideas almost derailed me from the start. I tend to over think things to begin with so once my mind grabbed a hold of the idea of finding ever smaller areas within main general topics (that’s what a “niche” essentially is), I went into paralysis by analysis. So in my attempt to steer you away from that, I think that you can sum up this critical part of your on-line journey in 3 steps.
Finding Niche Online Business Ideas In 3 Easy Steps
Part one – Make a smart, likeable choice
Gee – what the heck does that mean? Well I’ve heard and read some people use the term “Passion”. Passion to me is a little hard to deal with right off the bat. When there is no going back, that’s passion. Marriage takes passion. So I would say that at a minimum you REALLY need to like or relate to the niche.
We can decide after steps two and three if you can really commit and take it to the point of passion. You may say that “passion = profits” but truly its “smart” passion that leads to profits. So how do you grab an idea? Let’s start with your hobbies or other interests. As you do them (or think about them), ask yourself, “What are some of the things that would make this activity better?”
Also, what would you enjoy learning about in that hobby which you could share with others? That’s when you’ll stumble on a niche that you know intimately in an area that you care deeply about. Also, try your local bookstore.
Think about those black and yellow books titled the “Dummy” series of books. Everyone one of those is a niche market. There is “Wordpress for Dummies” “Investing for Dummies” etc. Finally look at top selling products at Amazon.com or eBay.com, etc. Finding niche online business ideas is easier than you realize.
The root of all those sales is a niche market for that product. There are many other ways to discover but for now, give those ideas a try.
Part Two – Where did my audience go?
Ok. You’ve got a niche that you feel pretty comfortable with. Hopefully you are smartly passionate about. But…what if you can’t find an audience out there because they are just not as “passionate” about it as you. You may be tickled to death that you are finally going to blog about outlet covers but if only two or three people would also love to learn more about their outlet covers, you may have a problem.
Now don’t get me wrong. You can absolutely blog about something because you want to give it a voice. But here at Smart Marketer Success we also want you to reach enough of an audience that you can have a pool of people to market towards. So what’s a person to do…
Best thing you can do to give your niche a little more statistical data is to do keyword researching. Through this process you can, at the very least, gauge how many other people are searching for the same topics that you are wanting to talk about.
This is why we said in part one that you may not be ready to jump in with both feet quite yet on your niche. You may need to have some back up ideas for niches in case your main idea just does pan out to be a fishing pond full of fish.
There are a good amount of free tools and paid tools out there for you to search and consider when finding niche online business ideas. But for now, I would strongly consider Google Keyword Planner. This is a free resource from Google. Of course, you do need a free Google account but besides that, you are good to go. Google has some great tutorials on how to use this tool.
Part Three – Back up the truck (Monetization)
Of course there is always the chance that your truck is a little tiny Hot Wheels truck. But a truck is a truck so you start small and grow. Nothing wrong with that. We’re talking about the potential to monetize your work.
Keep in mind also that there is nothing wrong with not monetizing your blog or website for a while. The allure of internet riches has side tracked a lot of good blogs and left them by the roadside.
It’s a very good strategy to focus on content. Focus on getting a reader. Focus on your time management skills.
When the time is right, there are plenty of ways to monetize. But it is important in your overall niche strategy to consider what and how to convert your efforts into profits. One of the first things you can do is look at other sites similar to your niche to see what they do to monetize.
Then of course, you can offer to sell your own digital products (reports, video trainings etc) or sell other people’s related goods via Affiliate Marketing. Selling physical products can also work as well as selling space on your site via banners or AdWords.
So begin your search to find profitable niche online business ideas. Chances are very good that you will find what you are looking for. What success or challenges have you faced in finding your niche? Let me know, I’d love to discuss.