Find a niche for your online business is the first step a new Entrepreneur need to start with to make money from home. Having a niche allows you to easily start your online business and focus on what you like to do the best. Find a niche, removes a lot of stress startups face before even thinking about earning money online.
In this post, we are going to give you all strategies you need to find a niche that fit your expectations. And this works for any niche.
What Is A Niche
A niche is a specific market, designed for a specific audience.
A niche target a specific people, that have a specific need.
As an example, “Fitness” is a niche that deserves people looking to have a fit body. “Weight Loss” in other hand, is a niche that deserves people looking to lose an extra weight. Both of these niches are under the same main niche category which is “Health and Wellness”.
In this example, and if you have a passion in this category, you should start only with “Fitness” OR “Weight Loss” which will be your ONLY niche. And grow your business to add “Yoga”, “Nutrition” and related niches.
The same example apply to all these main niches : “Travel”, “Finance”, “Cooking”, “Art”, “Tech”, “Pets”, “Coaching” and much more.
The niche can be a product or a service. And what separates niches, are the people who buy these products or services. For this, you need to keep in mind the audience and customers you are serving your products and services, before to find a niche for your online business.
Fine A Niche (Specific Or General)
The first question any startup ask, should I pick one a specific niche in a specific category to start with, or I go with general and start with multi-niches at the same time ?
And a lot of startups do this mistake, to think that starting with a wide niche will allow you to have more customers and sell to a lot of people, to make a lot of money, like Amazon do.
The reality is the opposite what is going to happen, because even Amazon started with a small niche, which is selling books and only books, and after years of experience, he started adding other products slowly, to become what we know Amazon now after around 30 years of experience.
There are thousands of niches. Find a niche in a specific market that you can serve and grow, rather than find a niche in multiple markets and lose control.
The best answer to that question, is definitely, find a niche which is specific you can manage easily, before to grow your online business to related and new niches.
Strategies To Find A Niche
– Find a niche that passionate and interest you
Starting an online business is a long term run, find a niche is one step among many others to come. Finding a niche that you like, helps you maintaining your online business and grow for long time. You may find something to start with from your own experience, something you already done and master. If you like cooking, traveling or writing, this may be your starting point.
– Find a niche that solve a problem
Find something you are passionate about is a great idea, but to have a profitable niche you make money from, it should solve a problem to your audience. Your customers will pay you, only if they need your product or service and find it useful.
– Find a niche in high demand
So far, you have the niche you like, and it also solve a particular problem your customer will pay for. Another point you need to check, is if your product or service is in high demand, to do so, check Google Trends by entering the keywords of the products and services you are offering in your niche. You may have a good niche, but only few people in the world are in need, this will not help you earning the amount of money you may expecting to make. But you can start with this niche, meanwhile growing your online business after.
– Find a niche which can grow
As explained previously, one of the points you need to check, is the growth. As the example before, “Weight Loss” can be a good niche because it can grow to “Fitness”, “Yoga” and so on. Almost all niches has a way or another to grow, just keep in mind the future of your online business.
– Find a niche which is profitable
A profitable niche is a key to making money online. When you chose a niche with a small prices, you need to sell a lot to make $1000. In other hand, if you sell a high ticket niches, you only need to sell few to get the $1000. Finding the profitable niche will helps you a lot making money fast.
– Find a niche with less competition
This point is hard to validate since almost all niches are already in use. But the market has still some untouched or less competition. Again, you can always start with the niche you like, and improve as you grow.
When starting a new online business, you may or may not find a niche that answer to all of these points, this is just fine. Do your best to find a niche you start with, but keep in mind that you don’t have to stick with this particular niche forever. At any time, you can grow your niche if you still like it, or just change it with more profitable one. This is the beauty of an online business vs a physical business. Just take time to find a niche of your dream.
How To Find A Niche Which Is Profitable
Your Passion, You Skills, and High Demand, are the keys you need to look for to find a niche that profit your online business. There is technics you can use to make your research easy and fun.
– Search In Google
This gives you an idea of how the demand of your niche is. Search in Google Search with keywords related to your niche. If there is a lot of websites, articles, blogs, videos and products related to your niche, this means that there is a demand in the market and your niche will be the best.
– Search For Keywords
Find a keyword related to your niche. By using tools like Keyword Planner from Google AdWords, enter same keywords you identified in your Google Search, this will help you find popular search keywords in your niche. More the number is high, more the keyword is popular and welling to give you traffic to your website, and make money from it. If the results are small, this means that the keywords are not in demand, and your niche may not be the best to start your online business with, at this point, pick another niche and do research again.
– Search Affiliate Marketing Publishers
ClickBank, WarriorPlus and JVZoo, are the most popular affiliate marketing platforms, they offer a lot of products and services that you are going to use in your online business. Search for your niche and figure out if there is a lot of offers, if so, this mean that your niche is in high demand and is the best for you, if not, this means that the niche is not in demand, you need to find another niche.
– Search In Social Media
Facebook, Instagram, Pinterest, Tiktok, Twitter, LinkedIn and more, are your best friends for your online business. You are going to use them almost every day to promote your online business and get traffic to your website, these social media will help you a lot searching for the potential market for your niche. Just do basic research in groups, comments and questions people may ask, to figure out if your niche is in high demand or not.
These are some free tools you can use to figure out in the niche you picked is the best fit for your online business, there is other free and paid tool you may consider using like, SEMrush, Ahrefs, SECockpit, keyword Tool, and much more.
Using keywords is the main key for your online business, since all happen online, and customer find your products and services by using these keywords.
To have the best results searching for keywords, use the specific keywords for your niche and not the main niche category. Use “Fitness” instead of “Health”. And “Excel” instead of “MS-Office” if you are giving Excel courses.
Because you are doing research to determine the keywords of your niche, you may write down all your good keywords, you will use them for your SEO (Search Engine Optimization) when it’s time to create your WordPress website and blog.
Do You Have To Be An Expert In The Niche
Do you have to be an expert in the niche you are looking for ? The answer is Yes and No.
If you are looking for a niche giving a specific services that need some knowledge, like teaching people a specific skills, in this case, you need to be expert or at least good on it, to be able to coach. And this is the best thing to do, because you are doing what you like and master.
In other hand, if you want to use other business owners expertise and just advertise their products and services, you don’t need to be an expert. Your mission will be only to redirect customers to that products and services, and get commissions from it. This is part of your online business, which is “Affiliate Marketing”.
Starting a new online business may be a challenge in the beginning. Find a niche may be overwarming, but be ensured that is NOT. You just need to take the needed time before you find the niche you like and be happy with. All successful businesses took time to pick the right niche, instead of selecting any niche, and figuring out after years that it doesn’t work for them.
Because some niches are profitable than others and enjoyable to work with, the best is to combine between your interest and the popularity of the niche. Keep in mind that the success key, is to target the right audience you are going to give your product and service to.
Finally, following these strategies will help you find your niche to start your online business with ease.
Please feel free to share with us your experience, and leave us a comment below, I’ll be happy to help.