When starting an online business, one of the first things that come to mind is the niche to work with. After you’ve decided to start an online business, you need to choose a niche. One of the best ways to stay motivated with your online business is to get involved in a niche that you are passionate about.
The only problem with this is that not all niches will have commercial viability. This means that the ways to monetize the niche are either limited or nonexistent. So you need to test the niche to know how many monetization options exist before you go all in.
After much research, if you realize that the niche you have a lot of interest in does not have enough commercial viability, you may probably begin to look for a more profitable niche. In order to get started, here are some tips that may help
Identify What You are Interested in?
Take some time out to write a list of topics that interest you. Don’t make any judgments as you write. You can check to see how viable the niche is later on.
If you are struggling to come up with ideas then ask yourself these questions?
- What do you like doing?
- How do you like to relax?
- What do you look forward to?
- What topics do you like discussing?
- How can you help others with your knowledge?
- What do you search for online?
- Are there any sports you like?
- Do you like keeping fit?
- Do you like cooking?
- What are your dreams?
These questions should certainly spark some ideas. You can think back to when you were younger and what you enjoyed doing when you were a child, a teenager and a young adult. Just get it all down on paper.
What Skills Do You Have?
Are you really good at something that can help others? Maybe you consider yourself to be a good parent and your well-adjusted children are proof of this? Or perhaps you learned a specific skill such as bookkeeping when you were working?
Everyone has a different set of skills. So don’t think that you do not have anything to offer. Some people are good with kids and are able to get through to them better than others. What obstacles in life have you had to overcome and how did you do that? Again write a list of your skills and don’t make any judgments at this stage.
Drawing Up a Final List
Look at what you have written on both of these lists. Think about each one in turn and notice how you feel about them inside. If you have strong feelings about something then add it to the final list. If you are not sure about whether or not you’re very interested in it, then don’t include it in the final list. This step is only necessary if you have lots of different ideas on your two lists. If you only have a few then this step may not be necessary. You need to decide here.
Go through your list one by one and use Google to search for information on the size of the niche. You want to know how big the niche is and whether there is a demand for information about it. If the niche is a good size, then check to see if people are spending money in it. Go through products on websites like Amazon.com and Clickbank.com to see if there are products for sale in the niche. Only go with a niche that has good demand and good monetization potential.
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