6 Step System to Finding a Niche
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1. Start with something you enjoy doing each day. Make a big list of:
- Interests
- Passions
- Areas of expertise
- Topics people always come to you for advice about
- What you would enjoy learning about
2. Brainstorm “problem statements” — What problems do people have in those areas? Once you have a comprehensive list of problems…
3. Find out how people are already searching for solutions:
- What keywords?
- How often do they type in those keywords/phrases?
You can use WordTracker.com to analyze keywords.
Once you have a group of keywords with a high demand and a clear problem, you must find a solution to the problem and make sure people will pay for the solution.The #1 fatal mistake is looking for the ultimate product to sell. Instead, look for an easily targeted niche market and find a product that market is hungry for.
4. Who is providing the solution already?
Some competition is good. You don’t need to be the only solution provider to be successful.
5. Develop a solution to the problem
- Create and sell your own product or service
- Drop ship products
- Recommend affiliate products
- Sell ad space
- Joint venture with like-minded businesses
- Sell other people’s products by purchasing reprint rights
The most profitable products to sell are those that can be delivered electronically, such as software, ebooks and memberships.
6. Are people willing to pay?
Want vs. Need — People buy what they want.
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