Finding a Profitable Niche

Is This Niche Going to Make Money?

When you choose a niche for your internet business, there may not really be any bad choices.  People are searching for anything and everything on the internet.  I never cease to be amazed at the websites that you can find on the web.  However, I am assuming that you have come to the Newbie Page because you want to start a real online business.  As a result you need to spend some time evaluating what you want to market on the internet.  Your niche can offer a service, it can offer advice, or it can present a product for purchase such as a computer or cell phone.  The choices are endless but some things are more difficult to market than others.

A Profitable Niche

Whether you choose a service around which to build your site or whether you want to offer a product you need to consider several factors:

  1. Are people searching for your product or service.   No matter how passionate you are about something if there is not an adequate number of consumers to buy from your site you will be limited as to what profits you will make. Go to the search engines and see if people are searching for what you want to offer. The success of your site will be made more difficult if there is not a group of consumers that you can tap into.  Selling surfboards to Alaskans may not be your best choice. But you may find a great market for a heavy duty parka that will keep you warm in subzero temperatures.
  2. Do you Have a reliable company to suppy your product. Unless you are offering a service that you yourself can provide, you are going to have to find a good source of suppy for your product. There are several factors here. Are you going to order and stock the product or do want someone to dropship the product for you. If you do not mind stocking and shipping the product yourself you may want to try to work with a company or companies as a wholesaler.  However you may not want to do that much hands on work.  You may want to become an affiliate of an online business like Amazon and collect a percentage of the profit from a product.  If that is what you decide to do, you do not have to stock the product or ship the product.  They take care of the handling and shipping and also most problems that develop. The profit is less as an affiliate but you can concentrate on your website and not have to handle or stock the product. Rather than becoming an affiliate who sells other people's products, you can create your own product. It can be anything you can create from a birdhouse to an ebook. It just needs to be of high quality and you need to be able to deliver it in a timely manner. This is an area where you can be very creative and make many different choices.
  3. Do you have a good name for your business.  On the internet this is called a domain. A good domain is essential to successfully building your business. It will look like this: http://www.newbiepage.com That is the address for this site. It is the address where you will send people to buy your product.  It is much like finding the location of the house of a friend or relative.  They may be located on a main street that is easy to find or they may be located in an isolated area where you can wander for hours searching for them. Be assured that unless you have a very unique product people are not going to search very long to find your online business. They are using the internet to shorten their search.  It is essential that you choose a good domain name. We will devote a complete article to this topic to help you know what to do.
  4. Do you have a good webhost.  To put your business on the internet you will need some company to be the host for your website. Webhosting companies will charge you a fee for using their servers to host your business. It usually can be paid monthly or can be a discounted rate if you pay by the quarter or the year.  The rates can vary from a few dollars a month to hundreds of dollars a month depending on what you want. The key for you is to choose a webhost that gives you the freedom to put up the site that you need and the ability to receive the traffic that you anticipate you will attract as your site becomes recognized.  Also you want the webhost to have a good record of being online and of good customer service.  If their services are going down often you will look for your business and get an error message.  You want good customer service so that you can address any issues with your site as quickly as possible. Again we will spend more time addressing this need in a separate article.
  5. Do you have an attractive site that is easy to navigate.   You can design your business site yourself or you can have it done by someone else.  However, the important factor is not who does it but how it appears and how easy it is to find the information or products you provide.  Your site needs to be easy to navigate and it is especially important for people to be able to buy your product or service without complications. If your customer cannot find the way to pay you or if they do not trust your system of payment, they will leave without making a purchase.  Make sure your site looks professional and keep the navigation simple.

So this does not become information overload, I will stop here.  These are just a few thoughts to help you get started. I will be covering additional ideas and clarifying some ideas mentioned in this article in future writings. If you have comments or questions please leave them on the site here and I will try to answer them for you.

Keep Looking Up!

Dan

 

 

 

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