Choosing A Niche or Product…

In our last article we talked about the determination you need to have if you are going to start an online business.  If you are not determined to learn and work your business, it is destined for failure.  Let us now move on to the next key element in your search for online success:

What is a  Niche…

Let's start with a foundational question:  What is a niche?

If you are a true newbie or beginner, you may not know what a niche is.  A niche is simply an interest group. A group of people who have a common interest.  It may be a hobby, or an occupation, a shared need or a simple curiosity.  Whatever it may be you  must decide whether this interest group is willing to make purchases to support  or continue their interest. Some interest groups will never spend anything.  Others will expend large amounts of cash to expand their interest. There are 1000's of these intertest groups and  it is easy to be dwarfed by all the niches in which you can start your business. The number of products and services marketed on the internet are beyond your imagination. If you have an idea of what you want to market or the niche you want to fit into that will help your beginning. However, if you have no idea  of what you want your niche to be you must do the work necessary to choose the interest group you want to be your market.

Choosing a Niche

You do not know what you want to market on the internet.  How do you choose an interest group and a product?

  • First of all make a list of the things about which you are passionate.  What are the things that you like to do best. List your most enjoyable work activities, your sports interests, your hobbies, and anything else that you spend time doing. For example you may be a great cook, a sports car enthusiast, an expert on football or baseball( you name the sport), a collector of antiques, a creator of jewelry, you may sew or crochet…As you can see the list is endless.

Now you have taken the beginning step in finding the niche where you will put your business. Now you need to begin to evaluate the areas of greatest interest to you. If you are passionate about something and would spend money on it so will others.

  • Look for an interest center that not only allows you to make money, but also gives you pleasure in doing. How many people do you know that make a good income but are miserable because they hate what they are doing. One of the reasons for starting an online business is so you can make a good income and also so that you can do what you enjoy doing. You have made a decision that you are willing to spend a great deal of time building a business of your own.  Make sure you choose a niche that you can stay compassionate about over the long haul. You do not want another job.  You want something in which you can invest yourself because you love it!

Thinking of what we have just discussed, I want to suggest that you choose several areas of interest and list them in order of their importance to you. Then we can begin to evaluate what may be the best niche for you to start your business. We now need to do the research to see if it is a viable market. Let's look at that in our next post.

Keep Looking Up,

Dan

 

 

 

 

 

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