You probably know the importance of choosing a niche for your online business. The benefits of choosing a tight niche market are many, and they include:
* Knowing your market fully so that you can provide solutions to their problems.
* The ability to speak directly to the core of your target market and connect with them on a deep level.
* Being able to niche all of your advertising efforts to target one specific market – this means a better return for your advertising dollars.
* Constructing a business system that is completely tailored to one specific market – this means you waste less time on unrelated projects.
But just how do you effectively research a niche market?
A good starting point for any online business owner is to first start with a topic they are familiar with. This doesn’t necessarily mean all markets/topics will make you money, but it gives you the option of possibly finding a niche you are familiar with and also makes you money.
This is important because you will potentially be spending a large amount of time building your website, writing content and promotions for your niche market. The more familiar you are with the topic the better.
So start by writing down all of the things you know something about and may enjoy writing about. This could be anything from a special hobby you have to a practical skill. Don’t worry just yet whether the topic will make you money, simply jot down all of the things you are familiar with – the research part will follow later.
Once you have your list ready the next step is to narrow it down. Ideally, you want to end up with 3 or 4 topics you’re more passionate about.
Finally, when your short list is ready, it’s time to research each topic for profitability.
Here are a few niches to give you some ideas: