How to find a Niche for Business
What is your passion? Everyone is passionate about something! Building your business project can be exciting as well as fun at the same time & should entirely revolve around something you love to do. Everyone of us has at least one interest or hobby that gets us really exited & motivates us to do much more. Let’s leverage on that & it’s already half of a victory itself. Every direction you pick is a right direction. You can never go wrong here, there are no wrong directions – All the directions have a lot of potential & your desire is the engine that drives you to go further. Taking direction is speaking of niche of course – The scary word that frightens a great deal of people out there. No need to become one, I’ll show you an effective way how can come up with your very own unique business niche by using the knowledge you naturally have. Yes, you are that smart, we’re all idea generating machines & a lot of us don’t even know it. Leverage on that & grow your potential to find as many business niches for you as you like.
Niche is Audience – A group of People looking for stuff
What is Niche?
So, what exactly is a niche? It is audience – To put it in most simple way possible, niche is simply your audience. In other words niche is a group of people that are looking for something specific. This is excellent because almost anything you can think of can be a niche. Yes, you can imagine how many niches there are that you can come up with – Hundreds of thousands if not millions of possible unique & different approaches how to do it. It means one thing, you’ll never run out of business. Niche also translates into solving a problem. There are always some people out there on internet looking for something specific – People who seek for expert advice, entertainment & also people who want to buy quality products or learn about something they don’t know about yet well enough. In this case you are targeting a niche, in other words you are targeting an audience. Your goal is to connect with these people to help these people, & an excellent way to achieve all of that is exactly like that.. through a well targeted niche.
Niche is Audience – Lets find Your niche
You’re probably wondering, what steps should you take to come up with your own niche as quickly as possible. Remember, once you set your goal to find a niche, the key moment within any niche is to be as specific as possible – Being specific helps you tremendously & helps you to connect with your audience easily. You don’t want to be too broad, you want to narrow things down so people can find you effortlessly & thus your online project has high chance to become successful. Here is an example of the steps you should be taking to make your life much easier while choosing a niche:
Niche should be something you’re passionate about..
To give you are real life example:
By using the exact same steps & pattern I just talked about, this is how I came up with one of the niches I’m currently using in one of my projects
1 Think of a passion, hobby or interest – Like many people do, I also have a lot of interests, many hobbies & a couple of passions. My interests range from how to prepare a simple dish to scientific studies. That’s a huge list to choose from & yes, as I did, you might feel overwhelmed right off the bat. That’s totally okay. You can start thinking about things you’d like to do every day or the things you’re already doing.
One of the greatest ideas is to think of the difficulties in your everyday life that you also might be currently facing – Reality is, almost every single one of us is always looking for some sort of quality tool that helps us to improve our situation. It’s absolutely true, isn’t it? So why not to seek exactly that & learn everything about it & recommend the things you learn along the road to other people as well to help them?
In my case, one thing I’ve always struggled with throughout my life – being overweight. There it is, “taking care of your body”, a great niche that can relate to millions & millions of people. As I’ve become a passionate athlete & it’s my everyday life, it sounds logical – Taking this direction not only helps me to expand my hobby & do what I love to do, but also gives a chance to share my knowledge with people who need assistance.
2 Write down all of your ideas – So, the broadest version of my potential business niche was discovered that way – I wanted it to be related to sports. That gave me a whole set of options & opportunities as sports category itself is incredibly huge as we all know. There are hundreds of sports within it: Outdoor sports, indoor sports, water sports, motosports, winter sports.. you name it! There’s so much to it that a single person wouldn’t be able to cover all of it. Hundreds of thousands of possible niches!
Then there’s the entire department that we perceive as the sports equipment category that’s inseparable part & always a very hot topic – Every year there’s a new piece of equipment on market: New set of running shoes, new set of dumbbells, new supplement brand.. again, you name it. Thousands of them! All of them have a big potential to be used as successful niches. People are buying stuff like that online each & every day. At this point I had an idea & general direction of what I’d like to do. Great, but still too broad to make anything out of it, right? I took the next step..
3 Choose an Interest – Ideally, when it comes to finding a business niche, you should always choose something that is an interest, a hobby or a passion. It could also be a problem, a need or a want – They’re all niches. It should be something that you’re interested in so you likely already understand the topic easily & can earn money with it. The more your niche is an interest the less it feels like a regular job. No surprise here, a lot of people hate their regular jobs, so it’s incredibly important that your niche is something you like to do.
In my case, the first thing you could say about me is that I love strength sports & in my spare time I’m a recreational powerlifter. This is my my hobby, my interest & my passion all at once. That’s another step that determined much more the potential direction & more specific category I would like to go with. As it is part of my everyday life & routine it made a lot sense to start digging there & try to find a niche within sports category.
I definitely thought about this as the area where I can become authoritative figure much faster because I already had years of prior experience too as a bonus. Experience isn’t mandatory in niche business but it never hurts. I figured I could use it to become someone who could give people training advice & recommendations as well as learn something new myself in the process – So, why not to try & use something that I already love & I’m familiar with as my own niche?
4 Start narrowing down your ideas – At this point I knew what I was going to do – Strength sports was my pick. But how do you actually make a business out of it? The easiest & most logic road I figured would be through affiliate marketing which means that you can earn money by promoting products without worrying about creating OR owning the actual product. Plus, affiliate programs are completely free to join.
To narrow down my niche I decided to focus on a single product only for a start. This is why you want to be as specific as possible – To make your life much easier as well as connecting with your audience with as little effort as possible. In order to know the exact product I’d like to recommend to people I asked three questions from myself:
- Who is my audience?
- What problem am I fixing?
- What tools can I use to fix that problem?
As a strength athlete with a specific interest in powerlifting, one of the problematic weak points that always needs to be covered in this particular sport is your ability to grab a barbell – In most exercises, to be able to lift anything you have to have enough strength in your forearms & fingers to even begin lifting a weight.
So, I figured the answer to these three questions would be:
- My general audience would be an athlete.
- The problem I am fixing – Helping people to get stronger hands.
- The tool I could use to fix that particular problem – Hand gripper
5 Refine your niche – Most marketers would emphasize on narrowing down your niche more & more & more.. It’s very good advice but NOT always the case. Remember, you can also do & you should always consider reverse engineering your chosen niche. Instead of narrowing down you can also broaden your niche in some way – This ensures that you will always have room to grow & a way to add new possibilities to your existing niche. Ideally you want to start small & grow from there. This is what I did.
I soon realized that it’s very specific & that there aren’t actually too many quality grippers on the market. I decided to do that reverse engineering part & go bigger. Essentially what a hand gripper does is improving your hand muscles. So, instead of focusing on one grip tool only, I decided to focus on the whole topic that includes multiple grip tools.
To make it happen I took all of these three factors in to account: 1. My audience is likely an athlete 2. The problem I’m fixing is getting stronger hands 3. The tools I can use to fix that problem are specialized grip tools. As a final result I came up with a niche “improving your grip strength”. It has a specific, very targeted audience yet has multiple approaches to it as well as multiple tools how to fix that problem.
Potential targeted audiences More specific Tools/Products
Never worry about competition – Possibilities are endless
To have any kind of success in niche marketing these days it’s absolutely mandatory to have a website in place – It’s the very foundation you’re going to build for your successful venture. The excellent news is that you don’t have to have any prior knowledge or coding skills to build one. Over the past decade it’s become incredibly easy as everything has been taken care for you & in hassle free shape. There is no need to worry about the technicalities. Here’s a way how you can build a free website & find free hosting platform for your new website as well as free online marketer training to get you started quickly. Remember to never be alone in this line of business, there are a lot of marketers out there who like to support each other in their campaigns & you should leverage on that. This line of business never should feel like your regular job, it’s much more than that. Put in the effort & in the long run you can expect to earn full time income. I like to think of my niche as my passion, income is just an amazing bonus.
There are so many people that are not that ambitious & they’re completely terrified when it comes to competition – Most of them get very distracted by the latest & the greatest. As a result most of them quickly devalue their own ideas & believe that they don’t have a slightest chance in online marketing world. They think “my topic is already taken” & there already are such great niches & amazing websites out there.. “why should I even bother?! These people annihilate their precious dreams with their own thinking process. Don’t become one! Why? Here’s a very simple example:
Is there only one hardware store on our planet? One grocery store? One sporting goods store? One bank? One library? One social media channel? No, there are hundreds of thousands up to millions of them across the whole globe. They all can lead a very successful venture regardless of fact that someone, somewhere is already doing it. There’s a reason why there is million of each type of shop on our planet.
Your success in niche business is much more than just random luck, it’s your desire to take action to make things work. There’s only one question that remains – Do you want to do it or not? Success is inevitable regardless of your direction & it’s determined by you taking action to see progress. Never worry about competition. There are over two billion people with access to the internet buying stuff online every single day – Regardless of your niche & the direction you are going to take you will get a lot of attention.
Where to start Niche business – My #1 Recommendation
To show you something that’s a complete all round package for a niche business – An incredibly beginner friendly community with superior support that includes ALL of the possible options to earn money online: There’s a convenient yet practical way how you can start earning money online – You can learn the basics, build your very own website & start your entire online project completely FREE
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I hope you enjoyed reading my review & learned a lot about Finding a Business Niche along the way.
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