You want to start a business, but the thing that’s holding you back is the market niche you know you need to choose.
⚡️Identify your interests and passions
Make a list of 10 topical interests and passion areas.
Business isn’t easy, and at some point it will test you. If you are working in an area that you don’t like, your odds of quitting will greatly increase!
👉🏼How do you like to spend your free time?
👉🏼 What do you look forward to doing when you aren’t doing it?
👉🏼 What topics do you like to learn about most?
⚡️Identify problems you can solve
With your list of 10 topics in hand, you’re ready to start narrowing down your options.
To create a profitable business, you first need to find problems your target customers are experiencing, then determine whether you can actually solve them.
⚡️Research your competition
You need to do a thorough analysis of competing sites. Create a spreadsheet and start logging all of the competing sites you can find.
Then figure out whether there’s still an opportunity to stand out in the crowd.
👉🏼Can you still rank for your keywords?
👉🏼 Is there a way to differentiate yourself?
👉🏼Can you create a unique offer?
⚡️Determine the profitability of your niche
You should now have a pretty good idea of what niche you’re going to get into. At this point, it’s important to get an idea of how much money you have the potential to make in your niche. ClickBank is a great place to go to start your search.
⚡️Test your idea
You are now armed with all of the information you need to choose a niche, now test your idea.
One simple way to do this is to set up a landing page for pre-sales of a product you’re developing. You can then drive traffic to this page with paid advertising.
Leverage A/B split testing, you can optimise conversions and find out whether or not there is anything stopping your target market from taking action.
What’s your niche? 👀