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 and are ready to get started. So now what? How do you get started? You begin by choosing your niche. But 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?
Your niche is one of the aspects that makes having your own online business so exciting. This is where your passions and favorite hobbies can shine and begin transforming into something more than JUST passions and hobbies. Your online business is yours and it can just about be anything that you want it to be.
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. Those are almost the same…right?
But, like just about everyone else, I “grew up”, had to pay the bills, and let those old childhood dreams fade away.
For many of us, those dreams may seem like just childhood fun and silly fantasies. But the problem is, somewhere along the way, we all stop dreaming. We stop seeing the world through childlike wonder and start accepting the status quo that locks us into the “trap”. Then we spend the rest of our lives running on the hamster wheel hoping for that “promotion” that we think will make things better or make us happier. Until one day we finally ask ourselves, “How in the world did I end up here?”.
Hint: that new promotion you are hoping for probably isn’t going to make you any happier.
So how do we break the cycle? How do we break free?
We begin by tapping into those dreams, passions, and fantasies that brought us so much joy and excitement when we were a child.
Dictionary.com defines the word “niche” in several ways, but the most relevant to your online business 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.”
Confused yet? Let’s simply this for our purposes.
It’s simply 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 (DIY) projects?
- Are you a photographer who loves to travel?
- Are you all about the arts and crafts?
- Are you a movie buff or literary enthusiast?
Any of these things and countless others can become a profitable online business for you and unlock freedom for your life.
It’s easy to over-think it and make it out to be more than it really is. That brings us to the most important point:
Don’t over complicate it
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 one 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, cause, or hobby 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 and you could do anything–be anything–what would you do with your life?
That should light a bit of a spark.
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 “finances” or “personal finances”. While those are great niches they are too broad. But if you narrow it down to something more precise, such as, “how to pay off debt”, “how to start investing”, etc. you will see much greater success and traffic 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 down 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 though. If it’s an ultra-competitive niche you may need to make 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 Google and social media as their primary sources 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 and the more that you engage and connect with your audience, 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 and services to recommend to your audience. Make it something that you are excited about to work with for years to come and won’t seem like just another job.
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 new trap that nobody cares about.
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!