Let’s get one thing straight right off the bat, choosing your niche market is NOT your business. Your business is (should be) filled with a variety of ways to make income. Today I want you to choose your niche market. It won’t be the ONLY niche you ever choose, this should be one of many in your future
Got it? Okay… let’s move on.
You might be sitting at your desk right now wondering what niche market to choose. A few beads of sweat are popping up on your forehead, your tummy has a few butterfly’s and your feeling a tiny bit anxious. Don’t Panic.
Your business can make mistakes and survive. This is why we are working towards Multiple Streams Of Online Income, so we don’t panic if one doesn’t take off like a rocket.
Many of my own streams of income are not rockets, they are small satellites that hover around and send down tiny streams of cash. Remember, many small streams will turn into a river eventually.
Choose Your Niche Market Wisely
You are going to be living with this niche for a while, hopefully a very long while. You better love the topic.
In the past, I would have suggested choosing a niche market based on keywords, search strength and a load of other strategies. In fact, I built over 100 websites based on niche keyword research. It was the golden ticket to profits for a long while, and then something happened.
Algorithm changes to the Google search engine over the years, took my highly profitable business and turned it into an anxiety riddled (swirling the drain) time suck. I spent so much time trying to make it work again.
Wasted time. I didn’t like anything about most of these niches, which made it hard to get excited about redoing all the hard work over and over.
I threw up my hands – “I’m Out”.
After all was said and done, I ended up with a few BIG niche market websites. Why are they BIG (with ton’s of content and many ways to make income) websites? Because I love the topic and everything that has to do with these niches. This makes it so easy to write, find products and market.
Follow Your Passions
Many will tell you that it’s bunk to research niche markets based on your passions.
Okay… so maybe it’s not scientific research. It IS more fun and the excitement of starting a new online income stream sticks with you much longer.
The niche markets I stuck with are all related to things I’ve loved to do for years and years. I’m in the hobby and home decorating niches in case you were wondering.
I did NOT follow the crowd and try to connect with ALL hobbies or ALL home decorating styles. I choose One hobby and a few styles of home decorating.
I learned to stand out in a crowd.
If you are a consumer in a market, others will be as well. Consumers read lot’s of information, look for reviews of products and buy when the product meets a need.
Amazon and Ebay Sellers – Market your products from your own niche website. You don’t need an e-commerce website to start out. Review the products on your website and then send the customer over to Amazon to purchase.
Set-up a FaceBook Page and Pinterest Bussiness Account – post your reviews and make sure all the links are pointing to your own products.
How To Choose Your Niche Market
These three niche market idea generators should help:
Think about what you loved as a child?
It could be a specific type of toy you still love to think about playing with. Maybe you have introduced these toys to your kids.
Barbie, Lego, GI Joe – you get the drift.
Also – Nostalgia Sells. “Nostalgia” refers to the evoking of feeling rooted in sentiment, a yearning to relive or return to an event or place in the past – in other words, it’s very emotional (and powerful).
Did you do something special with your grandparents as a child? Fishing, sewing, cooking/baking or woodworking? Think about it. What fires up some special feelings? You can bet that others had similar experiences and will resonate with you.
What’s On Your Bucket List?
What do you want to do “someday”? Don’t believe for a second that you are the only one who has similar “want’s” on their own bucket list.
Several things on my bucket list have turned into passion filled websites:
Travel – Italy and Mexico are always on my list and no longer on the bucket list. I’ve traveled to Italy and created a website. I also travel to Mexico often and it’s part of my home decorating niche market.
Live in a Mexico Style Hacienda – yes, I’ve had a passion for the style of home I want to live in. I have a website about this passion.
Spend More Time On My Hobbies – I would love to spend time actually creating things within my favorite hobbies. I don’t always have time to create, but I get to explore creative ideas in my niche blogs.
Amazon Sellers – I sell a lot of tools on Amazon related to this hobby.
Solve A Problem
This is really powerful.
Get really specific and specialized. Seriously.
This is getting really “nichey” and digging deep.
Be THE Go To Website for:
- Fishing Gear For Mexico in July (Not just Fishing Gear)
- Dorm Room Chairs (Not just chairs)
- Socks For Travel (airplane, car, boat, skiing, etc. )
And if you can solve a real problem… even better.
- Get Rid Of Female Facial Hair During and After Menopause
- Pass Your Truck Driving Exam The First Time
- What To Do When You Forget Your Passport and You Are Boarding The Plane (this happened to a good friend of mine).
What problems are you constantly struggling with? What answers are you looking for? Chances are other people are looking for those same answers.
Before You Choose Your Niche Market
Today’s Action Step: Google It!
Spend some time (not just a few minutes) and dive into what is already available. Where can YOU stand out?
Research your niche ideas until you think you will go blind… and then research a bit more.
Choose A Niche Topic – Don’t Panic. (If you are in Panic Mode – re-read the first paragraph in this article)
Look for products that you can recommend on Amazon. If you already sell physical products on Amazon, make a list of products you can start sourcing and selling.
Start making a list of all the products you can find. Physical products, books and guides, audio/visual resources are abundant in just about any niche.
I always suggest taking a day or two (no more) to let the whole idea marinate. If you still have a strong pull to your chosen niche market, take action. Pull the trigger.
Make The Decision – circle your niche with a big red marker. Out of the entire list you are making a stand and this is What’s Next within your online business.
Promise me one thing. Promise me that you will follow through and make this new niche the best it can be. Don’t go half in and stall.
You won’t be making the BIG bucks instantly, but over time you could be setting up just one of your multiple streams of online income.
You deserve it. Why? Because You Rock!
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