Weather you start a new business or a blog, finding a right niche can be tricky. You should list your interests and passions first and then make do the decision process. You should use your due diligence in selecting a right niche for your business and get started. Get started early and learn from success and failures.
If you’re unable to decide, or you need more information to work with, use the following five steps to find your niche.
1. Identify your interests and passions.
This is something you have already done. Butm if you haven’t started, get stated by making a list of your top 10 interests and passions immediately.
Doing a Business is not easy, and at some point, it will test you. If you are working in an area that you don’t care about, your may end of quitting business very fast — especially when you are a first-time business owner.
Usually you stick with a business if you are passionate about it, if you don’t care, you may not be able to sustain it for a long term.
Here are a few points to help you determine what your interests and passions are:
- What do you do in your spare time?
- What do you look forward to doing when you are not doing it?
- What magazines do you subscribe to?
- What topics do you like to learn most?
2. Identify problems you can solve.
Once you list the top 10 topics in hand, you should narrow down the options. To choose a profitable business, you need to find problems of your target audience and determine to solve them. Here are some things that you can do to identify problems in specific niches:
- Discuss your idea with your target market. Have one on one conversations. Learn painpoints.
- Find Fourms and join the groups which are relevant to your niche and actively participate there to know what people are talking about your niche.
- Do Keyword Research. Google keyword planner will give you deeper insights about keywords and their volume and CTR details.
3. Research your competition.
Research and make a list of all your competitors in a spreadsheet. You do need to do a thorough analysis of competing sites. Then figure out whether you still have an opportunity to stand out in the crowd. Can you still rank for your keywords? Is there a way to differentiate yourself and create a unique offer? Here are some signs that you can enter a niche and be successful, even if there are already other sites serving it:
- Low-quality content. If your competitor is not producting quality content, its easy to outrank the same. Quality content means measurable results.
- Lack of paid competition. If you have found a keyword that has relatively high search volume, but with little competition and paid advertising, there is an opportunity definitely exists for you to upset the market.
4. Determine the profitability of your niche.
Now you know a good idea of what niche you are choosing and get started. you might have some topics in mind which you feel you are good at. At this point, it is very important to have an idea of how much money your niche has a potential to make money? Clickbank is one great place to start your search.
So, browse top products in your category. If you do not find any offers, that’s not a good sign. It means nobody is monetizing this niche.
If your search gives you decent number of products – you’re lucky. Make a note of price points so that you can price your own products in a competitive manner.
5. Test your idea.
Now you have all necessary information about how to choose a niche, and its time to test your idea. One of the easiest way to do so is create a landing pre-sales page and drive traffic to your actual site by using a paid advertising.
Even if you are not successful, that doesn’t mean that you haven’t chose a viable niche. It could be that your approach is not right. By leveraging A/B split testing, you can optimize conversions and find out why your target market is not taking action.
Once you’ve confirmed the viability of a niche, start developing a full-fledged niche website. You should learn how to create a blog, and generate more traffic to your site to boost your revenue and scale up. So please do your home work, start immediately, learn from mistakes and get successful. all the very best.