You finally decided to start a business, but there's one thing that's holding you back: you don't know what niche to choose!
I'm sure you've already heard advice like “Find something you love! Build your business around a passion you have!“.
And still, if you list all your hobbies and passions, it looks like they're never enough!
In this article, I'll tackle precisely this problem: How to find the right niche for you!
Let's start with the obvious tip.
1. Identify your passions and skills.
I want to start from this point cause it's easy to misunderstand it.
Every one of us has plenty of hobbies. So which one should you pick?
You need to create a business around a skill you already use to help friends, family or acquaintances.
Do you have a talent that is requested already? Is it something you would do without compensation?
Let me give you a personal example. I've been a web designer for most of my life, and my relationship with my job was always a love/hate one.
I'm good with it, people asked me to help them if they needed a logo or a website, but I can't call web design a passion. If I have free time, building a website isn't exactly the first thing that pops in my mind.
On the other hand, I'm in love with online marketing and building businesses. I love every second I spend creating and growing my business.
And when in the past I failed with my old company, I was looking forward to trying again.
2. Figure out if there is a market for your niche
Starting a new business requires investments, and if your niche can't be profitable, you don't have a business at all.
Search on Google some keywords related to your market, and check how much competition you have.
Competition is usually perceived as a problem. Instead, the more competition you have, the better it is. There is room for everyone in this world. Just cause the music industry is full of rock bands, it doesn't mean that the market is saturated.
3. Find a problem you can solve
Now that you're sure there's a market for your niche, it's time to write a list of problems you can fix.
The web has been created by God to solve problems, and for this reason, it's a goldmine of requests for help.
Join all the Facebook Groups related to your area. Once you're in, scroll their newsfeed and take notes of the most asked questions by the users.
If a question gets asked over and over, it means that it is a profitable topic, and you can create programs or give consultations about it.
Another way to find relevant queries is to visit competitors' blogs and take a look at the most popular articles. If they're popular, it's cause people want to know more!
4. Test your ideas
Even if a blog post is successful, or a question is asked more than once, does it mean that people are willing to pay for a solution?
Testing your ideas is a crucial step, and will spare you a ton of time creating a course no one would pay for.
One of the best ways to test your ideas is to create a pre-sale page (also called coming-up page) for your products. This page is a preview for the product you want to produce, and it includes a form for who wants to know when the product will be live.
Next step is to promote your pre-sale page in the same Facebook groups you joined previously. If you see a good reaction from the users, you're on the right path.
And if you want to invest some cash in testing your idea, you could even drive traffic to your pages with paid advertising.
5. Stay away from shiny objects
Internet is full of brand new ideas that will make you rich overnight, and I know how strong the force is with these things.
I'm not saying that all of these ideas are scams to rip you off. Maybe some of them are actually valuable.
The problem with shiny objects is that they attract you just for the money. You're not in love with the idea or the process.
If you're chasing the money, you will run out of motivation pretty quickly.
I tell you a little secret: every business needs time and constant effort to become successful. And if you're working on something just for the wages, and let's assume you don't see any profit in 3-4-5 months, guess what you'll do.
Hope you have a more precise idea of how to find your niche. If you found these tips useful, subscribe to my YouTube channel.
Question of the day:
“What's your niche?”
Write your answer in the comments!