I know that there are hundreds if not thousands or hundreds of thousands of various things your blog and your website can be about but there’s no point in going into any of these silly little niches if they aren’t profitable.
Is scuba diving training profitable or surf boarding, I don’t know, but by looking at these three components you can easily decide if a niche is worth going after. Figure out if you have competitors, ask yourself if you have any existing contacts in these areas and explain to me how this can help me.
First of all, you don’t want to blaze a trail when it comes to marketing on or even off the internet. It’s good to have competitors. Competitors mean that everyone else has already made the mistakes for you. It means that you already have some people you can contact for interviews or to promote you as an affiliate or even for you to promote as an affiliate and it’s overall proof that it’s possible to make money in this niche. That means that if you don’t have any competitors at all or anyone to even compare yourself against, then that might not be a good niche for you.
The next thing you should think about is do you have any existing contacts in that niche. It’s one thing to go on the internet one day and tell yourself I want to teach real estate, but it’s quite another if you are an ex-realtor, if you know people who can recommend you or who can be a part of your product or who you can interview to capture leads. If you used to have a job in a certain industry that’s perfect because it means you probably know people who can help you along the way. You almost never want to go into a niche cold. Go into something where you are already trained in that area, where you also know the players in that area so that you have an easier time not only making your products but getting traffic in the future as well.
Finally, think about the ‘what’s in it for me’ factor because we want to make this exciting. If your niche was how to solve crossword puzzles, can you explain to me how that saves me money, saves me time, avoids pain or gains me pleasure, And if not, it’s not a very good niche but it becomes a lot easier to justify any price or justify any offer if it’s, for example, $100 and by buying this it saves me more than $100. If you were selling a real estate course for $1,000 and it saved me six months or a year of aggrevation, you could easily justify that to me. Think about if you can save money, save time, avoid pain or gain pleasure.
Those are the three components to figuring out if the niche you’ve chosen is profitable. Do you have competitors, contacts and what’s in it for me,
One thing that bothers me is when I come across students who have a list of 10, 20, even 30, different topics or niches that they might make a website about. Guess what, If you haven’t narrowed down your niche, which could be something like green energy, lawn care, weight loss or even real estate, unless you choose that topic you can’t go any further because there’s no domain name to make, there is no web page to create, there’s no product to put up for sale. You need to choose a niche.
So how do you even think of an idea and narrow it down to just one of these possibilities, Think about what skills you have, what could you personally get paid for right now and who else is advertising in this niche.
It’s funny because we all have certain skills. I know that you might have certain hobbies, you might have had certain jobs, you might have gone to school for one topic or another, you have a set of skills and some or all of them might be staring you in the face. For example, are you good at chess, Do you know how to repair cars, Do you know how to fix up a home, Any of these things could possibly be a niche where you could have an authority blog, put out articles and have some kind of membership site where people pay you to get advice. Think about what people ask you about all the time, even in person, because you are the expert on that subject.
Making the website and waiting for it to make money isn’t that fun, is it, Let’s think about what could you possibly get paid for right now to do a task for someone. If you’re a lawyer that might mean setting up someone’s business entity structure, setting up their LOCs and their S Corps and so on. If you are a writer then that might be ghost writing, but either way it’s more fun to get a job right now that you bid on in a job site or get someone to pay you on an as needed basis. Do the work right now and get paid a few hundred dollars and now you have a case study or a starting point for some kind of training you might make in the future.
It doesn’t matter what you are good at or what niche you decide on if no-one is making money in that niche then chances are you won’t either and it’s not going to be as fun unless you pick a topic where you can make money from it. That’s why you need to search for that topic in the search engines, and on Facebook, and on other sites and figure out who is advertising in this niche because if people are paying for ads every single day that means they are making money with it. If other people are making money in these niches, then you can have a starting point, you can see how they do it and then you can do it too.
When deciding on a niche, first think about what skill you have, what kind of activity can you get paid for today or this week even offline in person. Finally, take a look at who is advertising in this niche and that will give you an idea, not only if that niche makes money but if you have chosen one that is too broad or too narrow.
I know that choosing a niche or a specific topic to make your website is a difficult choice especially because if you make the wrong choice then all the websites and all pages you make after that will also be bad. That’s why you should choose a good niche the first time and when you’re choosing a niche make sure that it is something that is mass market and profitable, something that is specific but at the same time something that is also appealing and fun to your target market.
What do I mean when a niche is both mass market and profitable, Mass market means that many people can use it. A lot of people, maybe not everyone, but many people want to lose weight or want to buy or sell a home and a niche such as weight loss is profitable because you see lots of infomercials, DVDs, courses and membership sites around that topic.
On the other hand, if we were to choose cable knit sweaters as our niche, that might be fun to use as a hobby but unless a lot of people are paying big money for materials or training about cable knit sweaters, then that is a niche you should stay away from.
Not just that but you need to get specific when you choose your niche because a niche like weight loss has so many possibilities that you end up looking just like everyone else because with weight loss there is different areas such as exercise or diet or specific types of weight loss such as fat loss and that means if you were to drill down one more level and make your niche fat loss instead of weight loss then now you look different than other people.
But it’s not just that. We also need to make this a fun niche for our potential buyers because nobody likes to do work, nobody likes labor. We want to make whatever we are teaching something that is appealing and fun. For example, I used to teach computer programming and I would make the programming lessons very short and simple with a clearly defined outcome. What we could do if we were in the weight loss niche is not only narrow it down to fat loss but make it appealing and fun, narrow it down to fat loss without diet and exercise and you could have a series of training products about fat loss but specifically how to do it without diet or exercise.
Those are some good examples of specific niches and how you can decide on it. First of all, choose something that you know a lot about and ask yourself is it a mass market kind of topic and not only that, is it something that people are willing to pay for, Is this information valuable,
Step two – how specific can you make it while still making it something that people will pay money for and step three how can you spin it so that it is appealing and fun, making all your competitors dull and boring while keeping you exciting.
A niche is a unique topic where you are presenting your products, your articles and your blog post. A lot of people make the mistake of not making their niche specific enough, not having it unique enough or having it be something they don’t enjoy. Avoid those mistakes entirely by following these three simple tips on choosing the right niche.
First of all you have to have your niche be unique and everything you put out including all your content, your training and your products, need to be about that exact niche. That means you shouldn’t be selling one real estate product, one weight loss product and one exercise product. Focus on one area such as real estate. But not only that, you should get specific enough where you don’t have too many competitors and where you can also differentiate yourself from everyone else, which means that if you were just teaching beginners’ real estate or everything there was to know about real estate, then you would have a hard time convincing others why you are so special.
On the other hand, if you were specific enough to teach about foreclosure flipping, then you could show how you are the number one expert in buying foreclosure properties and flipping them and now you can become the expert in your field.
Finally, your niche needs to be something that you enjoy. After all, the reason why you are putting out your own products and your own information instead of having a day job is because you want to have something that gets you excited to get out of bed in the morning. That’s why when you choose your niche, it should be something that you enjoy, something that you are good at and something where there is money in the niche where there are buyers. That’s why in a niche such as real estate there are lots of people who are willing to pay for real estate training and if you are good at that and can prove you know it and enjoy it enough to keep marketing in that niche day in and day out then you have chosen a successful niche.
Those are the three things you should look at when choosing a niche. Make it a unique topic and produce all of your information in that area. Make it specific enough where you can show yourself as the number one expert in that topic. Finally make sure it’s something that you enjoy, that you’re good at and has money.
When you were deciding on what the topic of your website and your marketing is going to be, you always have that danger of choosing something that is either too broad or too specific and there is no clear cut formula to figure out if your niche is specific enough or not specific enough.
But you do know that your niche is not specific enough if your solution doesn’t write itself. And what I mean by that is if you decide that your niche is going to be weight loss then what product would you make it in weight loss. It’s not immediately clear. But if your niche was weight loss from running, then it’s pretty clear that the topic you would make would be possibly a 30 day video course about how to train for running and how to lose weight by running or jogging or doing those kinds of exercises, but it’s not as general as weight loss.
If you decided your niche was writing, well then what product would you make about writing, It’s suddenly not very specific but what if the topic was article writing as a freelancer, Now you know that the product you are going to make is how to get work as a freelance article writer.
On the other hand, you might make it a little too narrow. And you know that a niche is too narrow if no-one is looking for that information. Many people probably are Google searching or asking on forums or looking on your blog for how to lose weight from running or how to become a freelance article writer. But if you can’t find anyone looking for someone to write a legal contract for buying 1850s antiques then that is definitely a niche that is too specific. Someone who is experienced with buying and selling antique items, that might be a niche, but narrowing yourself down so much that no-one is looking for it and no-one else is selling that solution means that it is too narrow.
So how do you know that the niche you’ve decided on is just right, The big give-away on this is if you can easily think of a ‘how to’ product. In other words, a product that starts people at one position and takes them step by step to the end. If it was freelance article writing, then the step by step is first of all someone needs to decide what kind of article writer they will be, then figure out how to bid on jobs, then take a job, then write the articles and figure out how to get paid. That is an easy step by step process and you can justify why others would pay for this information because you can show how writing a certain number of articles can get you a job that pays a certain number of dollars which means that that is now worth the price of the course.
And that’s how you choose if a niche is too broad or too narrow. Does the solution write itself, In other words if you think of the topic can you immediately think of what your information will teach, Do people actually want this information and do you have competitors selling it and is this a ‘how to’ step by step subject,