So you want the best chance at working from home? Use the internet! Build your own internet business, the basis of which is having your own website and a niche. Don’t say this is not for you, as both will be taken care of in this article. Everybody can do this!
This article will mainly deal with how to find a profitable niche, as this is the most important part of conducting your business. At the end of this summary, I will give you my number one recommendation for internet business support, a program that will give you a website in minutes and any things more. So read on and discover how to choose the right niche.
So, what is a niche?
Perhaps you have already heard of the term “niche marketing” and you know that a niche is a sub-market within a larger market. In other words a niche is your audience. Sounds familiar? If it did not, then now it hopefully will! The big advantage of finding and operating in a small market within a larger market will be that there is much less competition. A suitable niche is the foundation for your business and your website.
With that out of the way, how do you find a good niche and what should you consider? What should you watch for when choosing a niche market?
To make this easier on yourself, it is wise that you start looking for a niche that you can easily write about. List for yourself what your hobbies, passions and interests are. Take into account that the niche you choose should be the one that you can talk, study, read and especially write about on a day-to-day basis.
People have specific problems / issues and also search for specific solutions in Google. The more specific and direct you connect to that question, the sooner they can find and the easier they make a purchase.
You will eventually find a good niche on the basis of these questions!
If you think you have found your niche, then test your idea as follows. Take a look at below eight questions and see if you can answer them positively. If so, then you have found your profitable niche!
Can I lose my passion with this niche of expertise?
Can I go deeper into this market?
Can I solve a problem within this market?
Can I earn enough profit in this niche market?
Can I grow with this niche in the future?
Can I score easily in the search engines?
Can I find a supplier for this niche?
Can I, when I have to, switch between different suppliers?
Of course, finding a niche market is important, but the development of the concept is actually more important.
Here are some tips to make your search easier.
What is the purpose of your niche for your target audience?
Internet entrepreneurs often say something like the following:
I want to teach people how to be happy
I want to teach people how to become financially independent
I want to teach people how to be healthy
I want to teach people how they can get more out of their lives and so on
Admittedly, these are fine goals for those people, however, you should realise that these people have to decide for themselves how they are going to achieve these goals and determine what this means for them. It is not so much up to you to teach them the above because it depends on the person. But it is up to you to be the solution to the problem of these people, or offering the bridge from A to B(etter).
First you choose your audience, like “people who want to be financially independent”. You can replace this aspect “financially independent” with what you have in mind.
Those people are in a (current) situation where they are not financially independent. They want a situation where they have to be (desired situation). The desired outcomes are not achieved by these people by one (or more often) obstacles. You offer a solution to this obstacle and thus a path to the desired situation.
Dare to choose!
We are all like entrepreneurs who tend to choose too broad an audience and that’s because of our innate loss aversion. We often do not dare to choose a market segment because we are afraid that we will leave something else on the table. That’s a big trap on the internet, for it is within that large ecosystem of distractions that you should make clear within a few seconds, why people should be with you on your website.
You must choose to be elected …
A beautiful statement I think is “you have to choose to be selected,” and this emits a very clear message. Successful entrepreneurs dare to choose and specialise. A true specialist usually has more prestige, higher prices, reduced customers (quantity) but more satisfied customers (quality) and more revenue per sale.
Specific website = faster to the top in Google!
The more specific your website, the sooner you can score in Google. For specific terms there is in fact always less competition than for very broad / general terms. Stay away from general terms as competition will be strong and professional.
Specific niche market = high conversion
The more specific you are, the greater also is your conversion. Conversion stands for the conversion of a visitor to result such as, for example, making a sale. This is logical because when your offer one on one meet the demand it is much more logical for someone to buy. Often, people with a specific need for a higher budget than if you remain in general. That’s because people know what they need and are looking for a specific solution. They made the decision there to pay the necessary steps taken unconscious before they come to you. In an overall market you must first convince your visitors that they need your product.
Where do entrepreneurs go wrong?
Many business owners make the mistake of not focusing on the main obstacle to their target but rather on the desired situation. As financially independent or healthy and happy. How people see their own desired situation, experience, how they feel and then how they would deal with it in principle, this is not to up to you as a business owner to determine. Again and this is so important: it’s up to you to provide a concrete solution to get from A to B. If you have a solution to go from A to B, then you have a good product.
Keep your ears and eyes open and always look around you for perhaps a good niche. It may that you will discover a whole new market segment, where nobody has thought of before. These niches can become profitable very quickly on the internet.
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