How to Pick a Niche

Here is the blueprint to making money online:

1.  Pick a Niche

2. ???? (this is the complicated part)

3. Profit

 

Let’s look at what goes into picking a niche online to make money in.  First of all, let’s get this out of the way:  there are 3 big niches online for internet marketers that make up the majority of the money spent:

1.  Make Money – This could be make money online, investing, real estate or career related advice.  Financial blogs fall into this category as well.

2.  Health and Fitness – Anything that helps people look and feel better, live longer etc.

3.  Dating and Relationships – This ranges from “get laid” to finding your soulmate.  Basically anything that helps people find and connect with other people.

 

These are the BIG THREE online niches.  Majority of the money and competition are to be found here.  These are proven to be profitable and will most likely stay around for a long time as they address some basic human needs, if you’re in doubt, going after one of these means you will not run out of customers.  Some “gurus” suggest sticking to these niches exclusively.

However…

Some of the most profitable niches are ones that no one knows about.

I’ve seen examples of people making millions selling crickets, used cells phones, skin tag removal guides and pretty much everything else under the sun.  The big competitive niches are not necessarily the only ones that can make money, they are simply the “mass market” ones.

Here are some other niches that have proven to be highly profitable:

  • Gaming (my favorite)
  • Self-Help
  • Law of Attraction
  • Pet Training
  • Learn to Play a Music Instrument (guitar is huge)
  • Arts and Crafts
  • Learn to Code
  • Languages
  • Parenting
  • Spirituality
  • Travel
  • Home and Garden
  • Apocalypse Survival
  • Betting/Gambling
  • Sports
  • Cooking
  • Golf
  • Etc Etc

How to Select a Niche?

 

Here are a few common approaches to selecting a niche:

1.  Do What Makes Money – this approach simply looks at the hot products in the market to determine what is popular now.  Many successful business use this approach.  Find out what’s selling, create a “me-too” product that appeals to the same crowd.  By focusing on what is already working, you decrease the chances of creating a product or business that flops.

If you are just starting out, creating a “me too” business can work well to get your feet wet while minimizing your risk.  You can get more creative once you know what you are doing.

2.  Do What You Love – this one is arguably the best way to pick a niche, especially if your passion is for one of the profitable niches.  If you are a fitness nut or perhaps love investing, going into one of those niches can be a home run.  By doing what you love and are passionate about you naturally have more “resilience” for when things are tough.  This often will allow to persevere where a lot of people would have given up because of your love for the subject.

3.  Do What You Know – If you have some professional experience of expertise sharing that knowledge can work very well.  If you’re an artisan cook, sharing your knowledge and recipes could quickly gain you a following of people willing to learn from you. Careful about doing this if you feel that doing your profession during working hours and then again when you come home could lead to burnout…

4.  Do What You Want to Learn – Whenever we start a new venture or start learning a new skill, a large amount of time is spent learning and searching for information.  If you wanted to learn to play poker for example, why not start a blog that catalogues all the information that you’re learning?  This is sometimes referred to as “re-work” or using the work you are already doing to provide some additional value.

What ever it is you choose to do, start today.  Focus on consistent, relentless action that moves you toward your goal each day.  You’re interests and hobbies might change over time, but your skills and abilities will only increase as you try more and more things.