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How To Choose A Niche For Your Business

how to choose a niche for your business

When it comes to the niche you choose for your business, you can choose from so many that it may cause you to feel overwhelmed and confused, but a simple way to think about how you’re going to narrow down your niche is by remembering that people are typically looking for solutions and transformations in 3 main areas.

Wealth, Health, Lifestyle.

Your business will likely be within one of these markets, and then within each of these markets are smaller markets called niches.

Because a ‘market’ is just too big to position yourself in – you will need to get into a more specific area of that market. This specific area is called a niche.

Let’s take for example – somebody asks you what you do for a living and you turn to them and say, “I’m in the Health market.”

The person who asked you the question more than likely will appear confused by your answer.

Why? – Because you need a more specific area of the Health market to give a better answer – such as – “I’m in the Losing Weight market” or, “I’m in the Eating Healthy market” or, “I’m in the Migraine Headache market”.

Do you see the difference here?

So let’s continue…

 

What is a Niche Anyway…?

A niche is a smaller – but just as profitable – segment of a market.

Travel – is a niche of the Lifestyle market.

Weight Loss is a niche in the Health market and…

Website Traffic is a niche in the Wealth market.

You can broaden or narrow down your niche as much as you want, so for example, if you’re working in the wealth niche, you could narrow down to only writing about business topics and give tips on the practical aspects of setting up a business, such as how to register for services from Your Company Formations Ltd, etc.

What we are going to do next is research a list of profitable niches.

Doing this will help give you ideas of what subject matter – your specific area – your niche – that you would like your website to be about.

You will then need to find a super niche which will be the subject matter of your free gift. You will understand this in a moment.

When you see how easy this really is – it will only take you about ten minutes or so of your time to do.

If you have no idea of what you want your niche to be – that’s okay. You soon will.

And don’t worry if you know nothing about the subject matter at this point. That comes later.

Alright then – let’s keep moving forward…

There are many sources on the web where you can find ideas for what subject matter or niche you want your business to be in.

I am going to reveal to you the best source for finding profitable niches and to be honest here – hardly anyone ever uses these.

In fact – finding a profitable niche is a necessary step that many people do not do.
They create a website first without even doing profitable niche research first.

Their website then makes no money.

Also – there are those that start out with a product first and this is where many make their mistake.

Doing profitable niche research is vitally important for your web business.

And making money online requires certain steps that you need to take. You have to go through this in a systematic step by step way in order for it to work. The money comes last.

What you are doing here is providing yourself with a road map to your destination.

Making money online is your end destination. You have to know where you are going first – what steps to take and what it is you are doing before reaching that destination.

If you are taking a trip somewhere in your car to a place you’ve never been before – how will you know what way to go in order to get to your destination?

You most likely will need a road map to get there.

The same principle holds true with your web business.

Remember – starting an online web business is a step by step systematic process.

If you miss a step – you will find yourself lost, frustrated and constantly struggling to get your business off to a good start.

Source:

Dummies.com

An online business is all about supply and demand – as is an offline business.

The theory of supply and demand has been around since the beginning of time and is the cornerstone of any business.

If you can discover a high demand for something and then supply it – then you will do well online.

Some of those “things” for example can be a product, or a service, or information or software.

So what we are going to do now is…

Grab a pen and some paper because you will need to make a list. Write three columns on your paper that read market- niche and – super niche.

We are going to simply go and grab some of the information that’s in dummies.com to get ideas for what your niche (your website) will be about AND to get ideas for your free gift – or what is called – your super niche.

Are you ready?

Visit the Dummies website.

On the main page – you will see the “Shop for Books & More” link at the top right of the page. Click on that link.

You will then be brought to the store page with a list of categories on the left-hand side of the page.

Okay – now…

All these different categories have niches within them.

Let’s take the Pets category for an example.

At the time of this writing – when you click on the Pets category – you will see a list of niches within that category – Birds, Cats, Dogs, General and Horses.

Do any of these grab your interest? Write it down on your list.

Go through all the different categories and look through their niches to see if something grabs your interest or kind of jumps out at you.

If it does – write it down on your list.

It doesn’t matter if you don’t know anything about the subject matter. We will get to that later on.

Okay – now…

With each niche subject matter, you choose – click on that subject matter and look further inside.

In the various books that are listed – have a look at the chapter titles and write down under your super niche column a title subject that grabs your interest.

This is going to be the title of your free gift that you will be giving away – this is called your super niche.

However – before you can give this gift away – you need to make sure that it has enough people searching for that specific niche.

We will get to that in a bit. For now – just write down the ones you find.

For example:

If you find a niche in the Health Market that pertains to “Losing Weight” – you would write down “Losing weight” under your niche column.

You then would look inside the “Losing Weight” book and look to see what chapter titles are listed under the chapter contents page.

Let’s take for example that there is a titled chapter that reads, “Losing Weight and Eating Healthy.”

Write this down in your super niche column.

This process for finding your niche is super simple but highly effective and you’ll soon have a list full of ideas that you can turn into great content for your business.

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