Are you having trouble choosing a business model?
Of course, I want you to choose just one for now. I want you to focus and stick with the business model and the niche you choose today.
It’s so important to see this through and to not get distracted by everything else that’s going on around you. Turn off those emails that are arriving in your inbox by the minute, if you need to.
After you’ve started to become successful with one particular business model or project, it’s completely fine to add additional projects.
You can be:
You can completely dominate your niche by entering into tons of different projects. You can combine all of these business models to fit under the umbrella of your business as a whole.
You’re never married to just one business model.
You’re never married to just one niche.
What I want you to be married to is the fact that you’re going to see this one thing through until you’re successful. Then you’re going to add on additional business models and additional niches so you can become truly successful online. This is really exciting, and I hope you can see just how this can change your life.
Takeaway: Before you branch out into other business models, get this first one right.
At this point, you might be a little curious as to how you’re supposed to come up with niche ideas in the first place. I’ve mentioned that you should think about your own passions, of course, but there is more that goes into it.
Soon, we’ll talk about how to brainstorm niche ideas. I just didn’t want you to get too ahead of yourself. There are certain steps, and a certain mindset, that are important to take before you really dig in.
I should also mention that it’s completely okay to take your time when it comes to choosing a niche. This is a serious business decision that warrants some careful consideration. You need to make sure all the pieces of the puzzle will fit together, of course.
At the same time, don’t let this be a decision you stew over.
I want it to be a niche you’re really excited about and can’t wait to get started with.
Are you ready for it?
Takeaway: I want you to have a profitable niche chosen by the end of today.
As part of the basics of niche selection, I want you to consider beginning with the end in mind.
I hinted at this earlier, but let’s go a bit more in depth now. What would you ideally create for the niche you’re considering? It’s time to think about your business model.
There are many Internet marketing business models to choose from. The thing is, you actually have to choose one.
It’s hard to choose a niche if you aren’t yet settled on your business model. That’s because certain business models are better in tune with certain niches. Something that’s popular on Kindle isn’t necessarily popular as a web info product. Or, maybe it is.
You have to do your due diligence and figure that out.
You have probably purchased or seen a variety of IM business models in the past. It’s time to choose the one that resonates with you the most.
HINT: Mine is blogging!
Now, allow yourself to imagine and dream. If you could choose your ideal life and business as an online marketer, what would it be?
Let yourself dream a little.
Takeaway: Make sure you choose a niche and a business model that fits into your dream. If you begin with the end in mind, you’ll be a lot more likely to accomplish your dreams.
You also have to consider the popularity of a niche. It’s no good for you if just “some” people are spending money. You don’t want to target the smallest active niche there is, even if it would be slightly profitable for you.
You want a niche that is very popular and active. The more activity involved with that niche specifically, the better. There should be other books, products, videos, articles, social groups, forums, and so on.
You want a flurry of activity.
Remember the general topics:
At the same time, you don’t want this popular niche to be so general that you really can’t stand out in it (think “weight loss”). Choose a popular, specific niche (like “how to lose 30 pounds in six months” or “how to get into that wedding dress after 20 years of marriage”) that allows you to really zero in on your specific audience, eventually making sale after sale with your lifelong customers.
That’s the goal.
Takeaway: Choose a niche that's popular but not “too popular” (you'll never stand out). Think “sub-niches.” Or even “sub-sub-niches.”
Now that you have the background, it’s time to do the actual work of choosing a niche. It’s actually a pretty fun process. There are so many possibilities—both in the niche you choose and the amount of money you can make.
You could earn life-changing income from the niche you select. That’s pretty amazing, and it’s all made possible with internet marketing.
There are several different ways you could get started. I’m going to have you start in the way I think helps avoid “IM burnout.”
I want you to love your niche, follow through with marketing to that niche, and earn a great income from that niche.
That means starting with your passions.
What do you care most about in the world? What do you spend money on and think about most often? What would you be willing to spend day after day immersed in writing and talking about?
Sure, you want to make money with what you’re doing. But, you also have to like what you’re doing or you won’t follow through with it. Follow through is what most marketers have trouble with.
I have to caution you that just because you like something doesn’t necessarily mean it will be profitable. Some people are surprised and saddened to learn that the things they like aren’t profitable after all—it’s even worse if they learn this after they’ve spent a lot of time and energy trying to make it work.
You have to like it, but it also has to be profitable. What fits the bill for you? It’s time to think of ideas.
There are some clues hidden there. If you’re already an expert in a particular niche, you’ll have a much easier time making money in that niche because you don’t really have to research it.
Takeaway: Yes, start with your passion. What you may have above-average knowledge in. But keep in mind the niche must have active buyers!