To find your niche in developing an online business is arguably the most important thing you can do. Unfortunately, many people go about finding their niche in the wrong way, either going with what seems to be “cool” at the moment instead of focusing on what will really work for them.
Developing the right niche for what will help you succeed is actually fairly easy if you know where to look. However, before you can find your niche online business, you will have to understand what it is and why it will work best for you.
What is a Niche?
In terms of online businesses, a proper niche should be based on product or products that occupy an area of interest large enough to attract plenty of customers while small enough to make you an authority on the subject. For example, if your affiliate business is selling movie DVDs, then that subject is too broad and most people will probably ignore you and buy from the major sellers.
However, if you sell 1930s classic horror movie DVDs, then you have narrowed it down considerably. You can narrow it down even more by concentrating on a particular star like Boris Karloff for example. By narrowing it down enough, you can then create a website and blog that makes you an authority on the subject. People will come to your website to learn about the subject and will be more likely to purchase from you since they want to support your efforts.
Unfortunately, most people go about trying to find their niche in the wrong manner. They look for what is “hot” or what is “cool” rather than turning the focus inside to unlock their passion. Ultimately, what makes for a successful niche is not whether it is currently riding the trends of being “hot”, but rather the attention given by the owner of the small business to make it “cool” all on its own.
6 Exercises to Discover Your Niche
For every person that instantly knows the type of niche they should be pursuing, there are many others who are simply lost. They may not know what their passions or interests are, at least in terms of finding the right niche. Here are six simple exercises that will help you find what you need so that you can start a successful niche business.
Brainstorm: Sit down with a pencil and paper and write down all the hobbies and interests you have, no matter if they are bankable or not. If you love flowers, chewing gum, history, fly fishing or whatever, write it down. Remember, to be honest, and put down your genuine interests.
Naturally, there will be some that will not make for very good niche businesses, but you would be surprised at how many different interests there are on the internet. For example, if you love chewing gum then you might explore being an affiliate marketer for brands of chewing gum and devote your blog to the history, flavors, interesting tidbits and other information that will pull in potential customers.
List Your Ideas: The next step in the process is listing what you have brainstormed and separating the ones that have no commercial effect from the ones that do. Don’t dawdle on this part of the exercise as you may be surprised what interests you have that will translate to creating a successful online business. Narrow your choices down to two or three and then you are ready to take the next step.
Research: Now that you have gone through all of your interest and put them down on paper, the next step is going online and seeing what it out there. You should not be discouraged to find plenty of other websites devoted to your interest as that is a good thing. It means that there is a market out there for what you are passionate about.
You should research more than one area, however, so that you can make the most informed decision about which niche you should pursue.
Go Outside your Comfort Zone: Is there a niche idea that makes you feel a bit nervous as if you don’t want to share that interest with anyone else? If so, then you may want to break down that barrier and share it with the world. Naturally, it will have to be an interest that will appeal to everyone, but by going outside your comfort zone and sharing it with the world you can expand upon that passion. Many highly successful niches are also the most personal ones because when people read about what you love, they can feel it as well.
Listen to your Heart: Most people may confuse “heart” with “judgment”. While your judgment can be off, your heart will always tell you what works best for your interests. Learn to listen to your heart when considering which niche business works for you. For example, if you are not sure that your interest will translate into a successful niche business, but it is something that you really want to do, then listen to your heart and do it.
Make a Decision and Go: Analysis paralysis is arguably the worst thing you can do at this point. Instead of pandering to make sure, start the selection and start working. After all, the worst thing that can happen is that it fails, so you can then start with another niche that you have done the research for and go with that. Too many people lock themselves into trying to make the “perfect” decision when all it accomplishes is that you don’t do anything at all.
In conclusion, you should look inside to see what niche business will work best for you. This can be accomplished by brainstorming ideas and getting them on paper. Then, separate into categories of what you think might work best for you. At that point, do the research to see if others have been successful in that field.
In making your decision, it should be something that goes outside your comfort zone but comes from your heart. Once you know what you want, go for it and don’t hold back. By following these exercises, you can make the best-informed decision about finding your niche.
You can learn more about finding your niche and running a successful online business at “4321Startup!” This is an online magazine that will help you find your passion and how it can best serve the marketplace. Plus, you will understand how to create effective content, market your products online and build up your business brand.