How To Choose An Online Business Niche?
This blog post is to answer one of the most common questions I get asked… “How do I choose a niche?”
There are lots of variations to the question like… Which niche should I choose? Do I need to be passionate about my niche? Do I need to be an expert in the niche? Will my niche ever make me money? Should I choose many different niches and see which one works?
First up, let me tell you that I believe you can make money in ANY niche. I've seen it done over and over again… The real question is how much money will you make in that niche?
Look at the model train niche… Before I created an online membership, there was nothing like it online. I was testing the niche, found a sweet spot and made some good money from it.
Did I model a competitor? No, there was no direct competition, but there was indirect competition like books and magazines.
Was I passionate about the niche? No, the last model train set I owned was when I was about 12.
Was I an expert in the niche? No, definitely not!
Why did I chose the model train niche? Because one weekend I thought it would be good to take my sons to the local model train show. When I got there my marketing brain started hearing all these questions and answers, and then I saw the confusion on people's faces…
When I got home I Googled the questions. I searched forums, blogs and websites. I looked for products to buy. I made a list of the best information I could find… and the rest is history!
Do you see what happened?
I didn't choose the niche. I heard the questions, saw the confusion and thought that a downloadable beginners guide would be the answer…
So, when you are out and about, listen for the questions that need answering. You don't need to be passionate about the niche, you don't need to be an expert in the niche, and you don't need proof of money being made in the niche.