So you’ve decided to dive into the world of owning your own online business. You’ve thought about your motivations and identified your financial expectations.
So now what? How do you get started?
It’s quite simple really. You begin by finding your niche business.
How do you find your niche business? Well for starters let’s look at what exactly a niche is and then we will break down how to identify it.
What is a niche?
Identifying and choosing your own niche is one of the things that make owning your very own online business so exciting. This is where your passion and favorite hobbies can shine into the spotlight and begin transforming into something more than JUST a passion and hobby.
Have you ever been sitting there at work and thought, “wow I would be great at that” or “I’d love to be able to (fill in the blank) every day and make a living at it”? Sure you have! We all have at one point or another.
Think back to when you were a kid. Do you remember what you wanted to be when you grew up?
I can remember several different things I wanted to be including an astronaut and a detective. Yet, somehow along the way, I ended up as a retail salesperson, a factory worker, and then a rental car detailer. Almost the same thing…right?
Eventually, like most everyone else, I “grew up” and let those old childhood dreams fade away.
For many of us, those dreams may just seem like childhood fun and silly fantasies. But the point is, somewhere along the way, we all stop dreaming. We stop seeing the world through childlike wonder and decide to accept the status quo that locks us into the “trap”, and then we spend the rest of our lives running on the mouse wheel hoping for that “promotion” that we think will make things better or make us happier.
Hint: It won’t.
So how do we break the cycle? How do we break free?
We begin by tapping into those dreams, passions, and fantasies.
Dictionary.com defines the word “niche” in several ways, but the most relevant to internet marketing would be the following:
- “a place or position suitable or appropriate for a person or thing: to find one’s niche in the business world”
- “a distinct segment of a market.”
Let me make it really simple for you. When you are on this step of the process it’s somewhere in the middle between those 2 definitions.
It’s simply taking something that gets your heart racing, something you are good at, something that you are excited about and finding a way to present it to the world in a way that adds value to the lives of others.
- Are you into video games?
- Are you into the latest weight loss and bodybuilding routines?
- Are you into Do-It-Yourself projects?
- Are you a photographer who loves to travel?
Any of these things and countless more can become a profitable online business for you and unlock freedom for your life.
It’s easy to over-complicate it and make it out to be more than it really is. Which brings me to the most important point:
Don’t over complicate your niche!
I’ve been a member of wealthy affiliate for nearly 2 years now and the thing I’ve seen people struggle with the most when trying to get started is choosing their niche.
I, myself was one of these people. I was passionate about several different things so it was tough for me to narrow it down at first.
One piece of advice that I can give you is to keep it simple. If I were to sit across the table from you and ask you what you are most passionate about, what would you say? What’s the one thing/subject/etc. that really gets your heart racing and blood pumping?
The first answer that pops into your mind should give you your best indication of where to start.
Still stuck? Let me ask you a different question: If money was no object what would you like to do with your life?
That should get some of the brain juices flowing.
Don’t over think it, and whatever you do DON’T start second guessing it. Just identify it and roll with it.
Don’t make it too broad
Once you’ve identified what makes you tick, it’s important to make sure you narrow it enough to make it marketable.
What I mean by that is that people who choose niches that are too broad have a hard time marketing and building their initial audience.
You are going to be identifying keywords that your audience is searching for. So you need to think like they do.
EXAMPLE: In general people don’t search for “finance” or “personal finance”. While those are great niches they are too broad. But if you narrow it down to more precision based niches, such as, “how to pay off debt”, “how to start investing”, etc. you will see much greater success when building your foundation.
You can always add new categories and expand later. In fact, as your business continues to grow it will evolve and take shape naturally as you interact with your audience and see what their needs are.
Do some research
Once you’ve identified and narrowed your niche, do a little research and check it’s popularity, profitability, and competition.
Look at some other websites and see what’s out there. Scope out your competitors. You need to know who and what you are going up against.
Don’t let that scare you away. If it’s an ultra-competitive niche you may need to do some tweaks here and there to tap into the market but remember, there are new searches performed every second, and more and more people are turning to social media as their primary source of information.
The trick is to make yourself stand out and the more passionate you are about something the more people will see that passion and connect with you.
Remember: nobody else out there writes or communicates like you. There are people out there that only YOU will be able to connect with. The more you research and study your niche the more of a trusted expert you will become.
Picking your niche should be fun and exciting. It’s the breath of fresh air from that stale cubicle and monotonous, meaningless grind.
The reason you need to go with something you are passionate about is that you will be creating ongoing content to engage with your audience. You’ll be looking into products/services to recommend to your audience. Make it something that you are excited about to work with for years to come!
Don’t pick something just because it seems to be the most profitable. If all you do is run to the newest and hottest craze, it’s popularity will die out and you will be “stuck” in a trap all over again!
Are you struggling to identify your niche or are you looking for some feedback to help you narrow it down? Leave it down in the comment section below and I will help you in any way that I can!