Three Simple Tips To Picking a Profitable Niche Market for Newbies
By Marik Singh
For a new online entrepreneur, picking a niche can be the most intimidating part of the
entire business model building process. Get this one step wrong, and you'll be setting yourself
up for a disaster where you don't earn money, you don't enjoy the work, and you waste an incredible
amount of time putting effort into something that won't pay off.
So it's vital that you understand the correct elements of picking a niche that pairs
passion and profits. There are very few marketers who come into this business without the goal
of pursuing their passion.
But you hear so much static online about money that sometimes, it seems like passion
takes a backseat so that you can focus on money and take the financial pressure off.
"Someday," you think, "I'll make enough money at this that I can then do something I love."
Why wait?
You can start off on the right foot from the very beginning and not have to start from
scratch one day with a new niche and a new dream.
There are 4 steps to picking a profitable niche that you're going to learn. It requires
some research, but do have fun with this! Don't do it all in one sitting - let your mind take
time to savor the possibilities and engulf you in daydreaming about where all you might take
these options.
Start with a Simple Brain Dump
The best way to get started is to just do a quick and easy brainstorming session. Now
is not the time to sort through and analyze your niches - just jot them down randomly - we'll
weed out the ones that aren't a good fit shortly.
Start by looking at niches you already know you like. For instance, you might like:
• Playing video games
• Gardening
• Playing golf
• Making your own jewelry
• Cooking
• Playing guitar... etc.
All of those are potential niches based on what you know you already enjoy doing. Forget
about whether or not you're an expert just jot down current passions.
Next, consider what you've always wanted to learn but don't know. For example:
• You've always wanted to learn better photography
• You've
always wished you knew how to crochet
• You find yourself drawn to the idea
of living a sustainable lifestyle
All of those "I wish I knew" topics are potential niche markets for you.
Sometimes, you can build a profitable niche based off of experiences you've had in life, such as:
• Surviving a troubled relationship
• Enduring a major health crisis
• Flipping a real estate property for a profit
Or, maybe you know someone else who is going through something - it doesn't have to be
directly related to you. For example,
• Maybe your neighbor is dealing with infertility
• You
have a good friend who can't figure out how to meet the right woman
• A sibling
of yours suffers from panic and anxiety attacks
There are niche markets all around you. Once you start training yourself to look for
them, you start to see a world full of possibilities.
Don't worry about lacking expertise. Some of the best blogs and leaders are those who
track their journey from the very beginning. Sometimes, for an audience, it can be intimidating
learning from an expert.
It feels safer and more relaxed, learning from someone who knows what you're going through
and who can empathize with you easily. Even if you're not going through the exact same thing,
understand why there's no such thing as saturation...
People like learning from multiple sources! You have a unique style and personality from
other leaders in that niche. When people learn and search for solutions, they typically look
in several places, not just one.
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