You’re probably looking to start an online business, but have no idea what to sell. Is choosing a niche market stopping you from getting started? Here is what I recommend that can hopefully guide you in the right direction. Take a look at your personal life situation and instead ask yourself the following questions.
What do you enjoy doing?
What do you not enjoy doing?
Do you have any hobbies?
What are you grateful for?
Identify Interest and Pain Points
Don’t over think this at all, a market niche defines the product features aimed at satisfying specific market needs. So keep it simple. How simple you ask? Here are some examples.
Pain Point: You’re training a puppy but it constantly goes to the bathroom on the beige color carpet leaving stains behind. Wouldn’t you be ecstatic if you found a product that could make that stain go away?
Pain Point: Digging through the attic and find an infestation of black widow spiders, wouldn’t it be great to recommend the product and or service you used to remedy the problem.
Interest: You are very passionate about health and fitness. Chances are that you may take supplements that you can recommend or even share a diet that you were able to stick too.
Interest: You have been married for 30 years and you would like to share the secrets to your success through an E-book!
The list goes on and on, so please do not over think this. You can always use the drop down menu on amazon.com for ideas.
Is There a Bad Niche Market?
Here is a question that has its opinions. Since a niche is a focused, targetable part of the market, my answer to you is no. The reason why you should start with a niche that you are passionate about is because you will have to do some research and it becomes difficult to research something you do not personally enjoy. You’ll have to research the following:
- Where do I find like-minded buyers?
- Where are those customers going today?
- Is there a large demand for this?
- What problem does this solve?
- Is the product reasonably priced?
How to Improve Your Odds of Success
You will have to embark on a journey of research for both your niche and how to successfully set up an online business. The good news is that the internet is loaded with information. The bad news is that the internet is loaded with information. The challenge with an overload of information is that it maybe overwhelming and you may not have a clue where to start. You’ll be searching beauty products and all of a sudden you’re watching a Drop shipping video ready to download the Alibaba app.
You can give it a go on your own but the easiest way to improve your odds is by following a road map. A proven system that assist you in creating your online business step by step. Now there are many of those programs out their also, so I recommend that you research these programs and give their free trial a shot, without giving them your credit card for a trial of course.
The site that I personally use is Wealthyaffiliate.com. Wealthy Affiliate has a free membership not a trial period. The free membership includes the following:
- Live Help – First 7 Days
- 2 Websites
- Website Backup
- Beginner Training Course
- Personal Affiliate Blog
- Affiliate Bootcamp Training – Phase 1 Only
- Video Walk-Throughs
- Keyword Research Tool – 30 Searches
- Training Classrooms – 2
- Affiliate Program
- 1-on-1 Coaching – First 7 Days