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Three Simple Tips To Picking a Profitable Niche Market for Newbies

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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