How to Choose a Niche?
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A quick flashback to the start of 2012, it was the year in which my “Online Niche Empire” peaked where I had amassed a portfolio of over 100 different niche websites.
However by the end of the year, the world may not have ended as predicted by the Mayans, my first online business venture had ended.
From hero to zero
Now – 2016
Fast forward 4 years, I have managed to pick myself up and establish a flourishing digital consulting business however I never really planned on starting a business like this.
My original vision was to have a business which made money 24/7 and to be 100% online. I wanted all my sales, marketing, support and product delivery to be either automated or outsource to a virtual team.
However running a consulting company is very different; even though I have position it to mostly run online there is still a large component that requires onsite work with clients.
Don’t get me wrong, I love my clients and working with them, however the nature of this business is it requires me to be constantly looking for new clients and servicing them at the same time.
If I don’t work, I don’t eat kind of scenario which makes it a very stressful situation to be in all the time.
So in early August I began working on rebuilding my Online Niche Empire.
Which comes to today’s post, How to Choose a Niche?
3 Steps to finding a Profitable Niche
When it comes to finding a profitable niche whether it is for your blog, website, book or ecommerce there are a number of steps involved.
1. Niche Selection
2. Keyword Analysis
3. Competitor Analysis
In today’s post I am going to focus on Niche Selection and share you how I research, brainstorm and find niche ideas.
This is one of my favourite parts of building niche websites as I get to explore new topics and to develop it into a brand new business or website.
When I am searching for new niche ideas, I always ask myself these three questions.
1. Does this sound like a niche I would be interested in?
2. Do I have any knowledge of this niche?
3. Do I see a potential in this niche?
If I answer yes to any of these questions then generally the niche idea will go to step 2 .
In terms of researching and brainstorming I like to visit the following websites for niche ideas.
Amazon
Amazon if you haven’t heard of it, you shouldn’t really be reading this blog.
I generally like to browse around in their book sections where they are nicely divided into hundreds of different categories.
There I will look at books and see what is trending and what is hot.
Udemy
Another website is Udemy, which is an online portal for courses. There are literally thousands of different courses on its platform.
I like to look at the most enrolled courses as this will give a good insight on what people are interested in learning.
I also like to browse around the new courses as occasionally you can find some new niches you can tap into before everyone else.
Listverse
Listverse is a content curated website where it publishes list articles on variety of topics.
Not only is it great to find new niche ideas, this website can come in handy during the content creation of your niche website.
Google Trends
Google Trends gives a good breakdown of what topics that are currently trending in the world.
Though it is not something I use alot, I do like to pop in once a month to see what is happening and whether there is potential niche to get into.
After I have found a good handful of niche topics, I will then begin my keyword and competitor analysis on each niche which I will discuss more in my coming posts.
Amazon, Udemy, Listverse and Google Trend are my top places that I go to whenever I need inspiration for new niche ideas.
However don’t limit yourself to these as there are plenty other places both online and offline in which you can find new niches to tap into.
Do you have any favourite resource or website that you use to find niche ideas? If you do, love to hear from you, please share below.