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How To Choose a Profitable Niche Fitting Your Personality

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Profitable Niche

Every internet marketer knows that finding the correct niche for a starting business is essential. However, I see many are not able to pick the so-called “right” one. Here is what to do and how to pick the winning choice.

Why is picking the right niche essential?

It all lies on the starting point. If you step out on the incorrect leg, the whole concept will fail sooner or later. Although you might not believe this, around 80 percent of new businesses fail because of the wrong evaluation at the beginning.

Moreover, the feeling of struggle as well as frustration will pursue you forever. Your life might fall into negative attitude, and it is not a secret that marketers who have pickedthe wrong niche spend their life in debt.

It sounds scary, but this may happen if you do not spend some time on the kind of research that I am going to show you.

What the right niche should have.

You already know it is possible to go in the wrong direction. So, this is the time to talk about what the winning directions are.

Profitable niches have one thing in common. You can make money from them. If you begin with this in mind, you know that to make a profit you need to sell a product to people with particular needs. This directs you to find a targeted group of people with the need, you can fulfill. However, what is the need?

The need is a problem that has to be solved. For example, a common profitable choice for many marketers is weight loss. In this niche, people seek for solutions to lose weight, and it is obvious it can’t be changed over night. This places a great opportunity for helping desperate people who have the need of losing weight, and even build long-term relationship.

How to determine it’s a niche for you?

Now, you have an idea what the right niche is. But obviously, if you have never had problems with your weight, you are probably not going to stick to making a big business in this field. In order to be able to begin, grow and maintain every business, you need to be passionate about it.

Thus, you need something you think every single day about, and consequently you will not get bored. There is a big reason behind it. Ask yourself, where could you spend more energy without making any money in the next three months? Is it going to be the weight loss niche, if you have never been overweight? Or gaming niche when you have been playing video games for over five years?

Find your passion and you have the best choice to go for.

How to find the NICHE?

This part is easier than you think. Just take a piece of paper and a pen. Then, write down all the things you like doing. Picture every day from Monday to Sunday and take notes of the needs you can’t live without. You could ask yourself this kind of question. What are your hobbies? What do you do to feel good? What makes you laugh?

When you run out of ideas, go to Google Trends or Google Insight. These two websites will give you more suggestions, plus they will show you the latest trends in the world.

What to do once you have the list?

Although finding the niche you are passionate about is crucial for the future growth, you need to research even deeper.

Now, cross out the interests, which you don’t have any problems to solve. This should reduce your list and will save you a lot of time when doing the next research to have an idea about the profitability, size and products of the market.

  • Profitability – Search your niche in Google keyword tool, and look at the CPC numbers. The point is, if companies are willing to do pay per click advertising, there is a big chance the niche is profitable. However, I would spend more time on this, using different tools like SpyFu.
  • Size – I would suggest you use Google Keyword tool again, and this time, look for the number of searchers per month. Is the market big enough to make a living? Let’s say you will have 1% conversion rate. If your niche has around 10,000 searchers a month, you may assume around 100 people will convert into some action if you are able to capture all of those searchers. Is it enough? Do the math.
  • Products –Search for products so that you get the idea of the average price, what is the best-selling product, as well as what you should avoid. You can use Amazon for physical products and for digital products, a good place is Clickbank.

Take your time

When doing this most important part of your business, don’t rush it. Rather take your time. Collect as much information as you need. Many don’t do the essential research and then wonder why they are not making any money. Don’t be like them.

Most people tend to skip these steps and no surprise, they are not successful. I hope, after reading this article, you see how proper niche research is essential for your future. Just do the steps mentioned above, and you are more likely to succeed online.

Image © bertys30 – Fotolia.com

About

Internet marketer with a passion of helping others to achieve their desired IM lifestyle. Also the owner of InfluentialWebMarketing.com and a good friend.

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{ 27 Responses }

  1. Shaquille Ray says:
    Choosing a niche is a very hard process for everyone. When i first started my first blog i didn't have a targeted niche i was posting about everything, and because of that i wasn't getting many subscribers for the blog. Also the most paid for niche keywords for Adsense is health and weight loss. So if you know anything about those two topics I would dig in deep
    • Samuel Uherek says:
      Yes, weight loss and health is huge. If you know what you are doing, it can be THE ONE.
  2. Shubham says:
    I agree with you that one should always choose the niche on what he knows and not just by seeing how much can your earn from it. If we choose a correct Niche we can earn a fortune and if we choose a niche about which we don't know much will lead to ruining the website.
    • Samuel Uherek says:
      Hi Shubham, You are partially right. What I would do, if I really wanted to step into potential niche is to find a ghost writer who is really passionate about the niche. But you are right, for your personal website, it would ruin the website.
  3. Gracie says:
    The success behind niche websites is due to their little competition with others. As the niche website will have more keywords and contents related to Mesothelioma Cancer than a website about Health, it will rank high in search engines meaning more traffic and more advertisement exposure.
  4. nic says:
    Choosing the right niche is as tough as choosing the right girl as life partner. If we do not choose the right niche, now or then we need to divorce that niche and go after another one. I have seen even most of the Guru's also choose a wrong one and divert then to another one.
    • Samuel Uherek says:
      Nicely said :-)
  5. Sara says:
    Hello Samuel, This is the first article that I read in this blog and I liked it very much.Not because you were saying truths, but because you gave some specific and very useful informations on how someone may use Google Keyword Tool.Many people tend to make a reference on that but nothing further.I also agree with you about the passion that a blogger must have, by telling that many people decide about the topic on which they will work on, based on the easy money idea and that's a big lie because blogging requires plenty of ideas, many research and many hours of work per day.
    • Samuel Uherek says:
      Hi Sara, thank you for your comment :-), and I'm glad you liked it. And you are right, blogging is not an easy way to get rich. If you wanted to be successful, it would take a lot more effort than just easy money ideas.
  6. Mohamed Osam says:
    Thanks for your article Samuel. Talking about the example you have mentioned, a "weight loss" blog, it actually goes back to what I personally experienced and thought of doing. I had a major success personally in weight management and was able to lose about 33% of my weight within 6 months, so why not starting a blog talk about nutrition values, weight management, etc, right? Oh well, may be right, but not for me. It is simply not my thing and outside my comfort zone totally. I am a techie and a business consultant, that's what I like doing and that's what I know. If it worked for me one time and was able to succeed in one area, that doesn't mean I am an expert there, yea, I can write a "blog post" about my experience and could do very well there, but I don't think that necessarily mean starting a business off it :) So, I guess my point here is, it is not only you should pick what's profitable, what you like, but also what you are comfortable doing. If you are stepping outside your comfort zone, then may be it is not your thing.. at least not yet. Give it a shot first by doing guest posts in different areas and see if this is something you'd like to keep doing on your own.. My 2c :) Great post, thanks again for sharing.
    • Samuel Uherek says:
      Thanks for your comment Mohamed :-) Actually, the suggestions about doing some guest posts before even stepping into a niche is very good. You would see how people react on your voice and also if you could talk about the thing you would like to choose. Mohamend you also made a good point, sometimes you are interested in things you wouldn't be comfortable doing, and it would only hold you back from the progress. Thanks for the input.
  7. Imran Soudagar says:
    Thanks for the tips. It is really tough to select a proper niche to work on. Because we feel that we are experts in many fields and when we start writing we start getting bored very soon.
    • Samuel Uherek says:
      Indeed. That's why it has to be something you are able to picture doing, even if it wasn't connected to money. Because money is not a good long term driving force. Thanks for the comment Imran
  8. Pepito Torres says:
    Internet marketing is one of the best way to earn money through internet. This article shows how important internet marketing is and i am proud to say that this is one of the best articles about internet marketing so far.
  9. Brian says:
    Yep, not enough research will lead you in the wrong direction. I've done this a number of times and one would think I'd learn my lesson. I found a niche that has no problems to be solved and I ran with it. The pizza niche is not really a niche. If I would focus more on my pizza directory or my pizza lists instead of all things pizzas, I may have more success. My goal was to have the ultimate pizza destination on the web, but things aren't working out like I had hoped. There again is another of my problems, using hope as a blogging/marketing strategy. Not a good thing. Intense research is much better than hope.
    • Samuel Uherek says:
      Hi Brian, I think I know what you mean by ultimate pizza destination. We are often focusing on too many things that we loose everything. This video might be helpful for you http://www.youtube.com/watch?v=WDdKEqh78H8 Sam
      • Brian says:
        Checking out the video now. Thanks for the tip Sam. I definitely agree with the guy in the yellow shirt. I'm guessing that's Eben. Thanks again.
  10. Kimberly Gauthier says:
    You are so right about the "passion" piece. I've had so much fun with Keep the Tail Wagging (http://www.keepthetailwagging.com) that it's been easy to monetize it. There were other blogs that I started and stopped, because I couldn't get excited about them. Once I decided that I wanted to blog about dogs, it's been great fun.
    • Samuel Uherek says:
      Great to hear that Kimberly :-) Keep up good work. Sam
  11. Amrik says:
    Researching a new niche is a tedious process, many blogs and internet marketers suggest launching a blog on a topic that is of interest to you and this is great advice. But as your portfolio of sites grow it will become harder and harder to find a niche that you are interested in. This article will definitely help me to choose my niche. Thanks Samuel!
    • Samuel Uherek says:
      Hi Amrik, Why not to focus on growing the site you are interested in? Although everyone has a different style and business plan, I believe the key to increase your income is to also build upon and not always starting from zero. Thank you for the comment.
  12. Andy says:
    I think you should also mention, how important it is too take a look at the competition! What good is it to find something that you're really interested in and has enough searches, just to find out halfway into the project, that on the top of google's result are a couple of major authority sites, that will take you several years to beat? Otherwise great advice!
    • Samuel Uherek says:
      Hi Andy, when I talk about niche it doesn't mean keywords. Ranking in Google is just a small part of the whole picture behind long term goals. For example, why are so many people still entering weight loss niche? It really is competitive, but it also means a lot of opportunities, since everything is changing so fast. In my eyes, niche means business in some kind and ranking in Google for a keyword is only one a step to grow the business. I hope you understand what I mean. Simply said, who cares when you are on the first page of Google if you don't make $$ from it? I know people who are nowhere in Google and make more than the ones occupying the first spot.
  13. Nikoya says:
    The statement about picking the wrong niche, in-turn causing many IM to spend their lives in debt is very scary. One reason why I had to take my hand out of active internet marketing and chill was simply to really do extensive research. Internet marketing is one of those things that seems so practical and easy to do, but is actually the exact opposite. You can begin IM so quickly that you may be tempted to NOT do the research required to really profit. Great advice here. I think that knowing that research and passion must overlap (at some point) to keep the profit scale strong is the real starting point.
    • Samuel Uherek says:
      Thanks for the comment Nikoya. "You can begin IM so quickly that you may be tempted to NOT do the research required to really profit." This is so true. It is the beauty of IM that you can build a business online very quickly an inexpensively, but if you for some reason did begin in a wrong niche in the first place, it can harm you a lot.
  14. mike says:
    Nice insight and guide to internet marketing. Beginning an internet marketing business isn't much different that starting a brick and mortar business, the same research and though needs to go into both. For some reason too many beginning an internet business just don't do the research that allows them to have that unique voice or unique offer.
    • Samuel Uherek says:
      Hi Mike, thanks for the comment. You are absolutely right. Many people who are new to Internet Marketing just don't do the research. I believe, it is because internet marketing used to be easier and people are still following old techniques. But the bottom line is, if you care about IM as a business (which usually is "unique voice or unique offer"), you are more likely to succeed even if everything changes online.