You’ve read this series and now you’re really ready to take action. Here’s a shorter-version run down of what you should be doing to find a profitable niche.
First, brainstorm possible niches. You can brainstorm based on desperate needs you have or have had. You can brainstorm based on things you’ve heard in the news or problems and solutions you know are currently possible.
You can get ideas by looking at how the popular “how to” books and products are doing, on Amazon and off. You can scour through Amazon categories and subcategories to get ideas. You can visit the magazines section at Amazon or use Magazines.com to get ideas.
When you choose a niche, you’re going to make sure it’s very active—there has to be a lot of activity surrounding it on the web.
You have to ensure you’ll enjoy being in the niche. It really helps if you’re passionate about the topic or if you can become passionate about helping the people in the niche.
You’re going to ensure there’s a lot of sales activity in the niche as well. There should be a lot of products and books for sale already.
You’re going to find your specific niche within this niche. You’re going to differentiate yourself and your products and the way you help the people of the niche.
Once you find a good potential niche, vet it. Look at the potential for profitably, the activity on the web (websites, blogs, news,social media, forums, and more), and how you might provide solutions to this hungry market.
If it all looks good, you’re going to enter the niche. You’re going to execute your business model, whether that’s creating info-products, writing books, creating blogs or websites, or whatever you prefer.
Takeaway: There are dozens of ways to find profitable niches. Pick one or two and go for it!
At first, you might just feel your way around the niche and network, not doing much in the way of sales. But, you’re not just playing at this—it’s a business. That means you have to treat it that way.
You’ve chosen a particular niche because you can help people and because people are willing to pay for that help. It’s time to get serious about creating your solution and monetizing it.
Again, I’m not going to go too deeply into business models. But, I will cover the basics so you get something in mind before you move on.
What is the most pressing need of the people you’ve interacted with, in your niche? Can you create an info-product that will help them?
Sure you can! Simply gather the top questions people have in your niche. Take a look at what other products and books on the market cover. Figure out what’s missing and how you can fill in the blanks for the people of your niche.
Creating this solution can be as simple as writing a short report or ebook. Or, you can offer something like consulting or coaching.
When you’re first starting out, you might want to stick with simple little products like the one you’re reading right now. It addresses a problem people have (how to choose a profitable niche) and guides them through from start to finish. It’s not the longest book in the world, but it clearly, concisely and easily solves the problem many people have.
That’s along the same lines of what you should be doing for your audience. You can create a series of info products, or release books, or courses. You can create informative and helpful blogs and websites that help you earn in other ways. You can become an affiliate, promoting products of others in your niche. You can gather affiliates of your own, giving them a commission for promoting your products.
Early on, I had you figure out what your business model would be in combination with what your niche would be. This is where you execute that decision.
At its basic core, internet marketing is all about providing solutions for people who need them.
Takeaway: Create a solution and monetize it in a hungry niche and you can earn a fantastic income.
Next, let’s talk about where to go after you’ve chosen your niche. We’re not going to get into specifics here when it comes to business models—there are a ton of books out there that can help you with specific business models. It’s just that I’ve seen so many of them gloss over niche selection, which is why this is my main focus for this particular series.
It doesn’t matter what your business model is or what you’re doing, you need to have an online presence.
An online presence gives people a chance to get to know you.The more people know, like, and trust you, the more likely they are to buy from you.
An online presence also keeps you fresh in people’s minds. You don’t want to be “out of sight, out of mind”…you want to be so relevant and present that people can’t help but run into you all over the web.
Building an online presence also gives you security. You want to be present on social media, on forums, on your own website, and through your sales channels.
I suggest you take the time to see what other marketers in your niche have done to establish themselves. Look at their Facebook pages and groups. Could you start something like that for yourself? Look at their Twitter accounts—how do they network with other marketers as well as their customers and readers?
It’s important for you to network and develop relationships in any way you can online. It’s going to help you be much more successful.
When you’re first getting started, it can be intimidating to think about standing out. Just get in there and start chatting with other people in your niche. Be friendly and helpful on social media, forums, and popular blogs. Show people that you know what you’re talking about and that you’re the one to watch in this space.
You never want to spam, of course. You don’t want to just push sales messages all the time. You’re presenting a persona to the people of your niche, so it has to be a good one. It has to be one people will be willing to buy from.
Wherever the readers and the experts of this niche hang out is where you need to be.
This is how you become well-known and successful.
The thing is, no matter which niche you choose, you never really have to start from scratch. If you network with others, you can find success more quickly.
Takeaway: Your name will spread and you’ll find opportunities to work with those who are more established (affiliate opportunities, joint ventures, partnerships, and more). Having a web presence simply gives you a much higher, stronger chance of success.