BEFORE WE START I WANT TO TELL YOU WHAT NOT TO DO!DO NOT try and find out what the latest and hottest thing is to sell. You will be like a needle in a hay stack and without experience you will get swamped and eaten up. Worst of all, no sales.What you need to do is IDENTIFY A PROBLEM AND SUPPLY A SOLUTION.
You will see more on this as we go along. So, lets get into Niches now but also continue on with what to sell as it does blend in nicely.
So, what are the main reasons for using a niche to launch your new internet business career?Well to start with I have listed a few reasons below; Low barrier to entry; it doesn’t require much start-up capital.It can be run from anywhere.No major technical skills or education required.Good credit! Bad credit! No problem.There is no qualification needed.You can get started within half an hour. Starting your own Internet business is essentially cheaper than setting up business the standard way. No staff, no premises, no rent, no face to face selling, no stock, or anything that the traditional business model needs. And your Internet business has the potential to generate millions.The Internet is not just a “tool” for business. The Internet is becoming OUR LIVES.
Just watch the news, the Internet is fast becoming the place to buy. The big stores in the high streets are also making millions more on the net with the loss of some business from the traditional store method.The Internet is now a critical communications environment. Think about it, is there a day that you do not use the net to contact a client or a friend in some way. Products like autoresponder are there because so many people are now communicating via the internet.
Mobile cell phones are now all getting internet access. Just take a look at the new apple iphone. The media, and the world in general, is very aware that millions of people are making money online which means many millions are using the net to solve problems and to purchase a product whether it’s a book or even a way to get rid of a skin tag.
What does this all mean then?
It means that millions are using it to communicate which means that you can get your message out to many more people than just using adwords for example. To find a niche product you need to first think about what you know about anything. What are your hobbies, what work do you do? What are your interests? Who do you know who you consider an expert? It could be a tradesman or a dancer or even a games fanatic.
Here’s an example, It’s all well to say that you like cars but you need to break this down. Say, how to buy cars at 25% below market value. What about painting your own car, fixing or pulling out dents, lower or raise suspension, fix cooler lights, install an air horn….Products can include, How to play better golf, How to spread bet, Discover how to play the best football in your life within a week…..Think of adwords.
Everyone knows what it is and how to use it. Or do they? An information product on How to make money using adwords could be something that people are craving for. Well, not anymore as there are hundreds of such books out there now.
Get the idea?
Here are some more ideas on how to get the creative juices flowing;Identify your skills, interests, passions, knowledge, and think about what you are asked about by friends etc. You may be the person who knows everything about David Beckham or The Rolling Stones.
Do you play sport, an instrument, what are your hobbies? Have you ever won an award for being the best at something? What pets do you have or have you had? Are you a parent or have you ever been a volunteer?You may have collected something over the years, maybe you are a sailor or martial arts expert.
Let’s talk firstly about I think most people do *wrong* when searching for the ultimate Niche.
Selecting a niche based on little or no passion…is suicide
You must have a passion about what you want to sell or promote on the net. It may be football, baseball, cars, trucks and many others. A word of warning building websites for fun will not make you rich. If you want to make money, put your personal interests aside and focus on what the market wants. If this happens to relate to a passion of yours then you are onto a winner.
FIND that PROBLEM.
I promise you this. You will make a lot more money if you concentrate on delivering to your prospective buyers a solution to their problem.
Niches with little or no Profit Potential
If nobody’s interested in your niche, then nobody will buy from you. This simply means no money no matter how much you test or change your sales copy or free offers etc. Stop and start again.
Niches with far too much competition
If there are too many people fighting for the same niche, like how to make money with adsense or how to use adwords then good luck making a profit as you will need it. Adwords alone will cost you a small fortune as the price per click will be around $2 or more.
The brand new and latest niche“Hey guys, I have this amazing brand new niche that is only being sent to a handful of my best customers today.” Contact me within 24 hours to reserve your copy” Guess what, he has just emailed over 10,000 people and 1,450 took up the offer. It is over before it starts.
The “secret niche” is out
A bit like the secret nuclear bunker that is sign posted for 10 miles or so. If you think you have the latest greatest niche and you have proven it through your research make sure you SHUTUP. Tell one person, then they tell 5 then they tell 50. Dead in the water.
NEVER jump in without knowing that your niche is in fact a niche.
You must be absolutely sure that before investing in the hard work that you will make a profit.A good niche needs to be big enough to make you money but at the same time small enough so the competition is lower.You will soon find out that finding these fantastic highly profitable niches is far from easy but with the right research it is easier.If you are lucky then you will just fall onto the latest and greatest niche. Don’t count on it. You will need to do some work here.
What I can tell you is how to find these niches using research… That comes in another addition to the blog coming soon.
Ashley Banfield http://www.onlinebusinessmarketer.com/
