Lemme guess – you’re just getting into internet marketing and you’re being bombarded with a bunch of mumbo jumbo about somehow creating an online business and then making a bucket fulla’ cash while kicking your feet up in your P.J’s and watching the money pour into your bank account.
So you go on the ol’ Google, do a ton of research on how to start an online business, and you think you’re ready to jump into the world of internet marketing.
And all of a sudden, your rush of endorphins, excitement levels, and eagerness come to a screaming halt as the question ponders you…
What should my business be about?
“Should I create a business based on dogs? I mean, I really love dogs and the way they’re so loyal even though they don’t need to be!”
“Should I create a business around teaching lacrosse? I really loved lacrosse when I was back in my ol’ high school days; maybe I should crack into that market…”
“Oh, but then that would mean I miss out on my love for food! I’m an excellent cook, and I think I bring something unique to the market!”
It can be such a difficult decision to pick a niche when starting your online business; I’m sure you have a number of passions that you’d like to create a business around. Unfortunately, the process of selecting a niche can be an overwhelming and can actually leave you in a state of analysis paralysis.
Hopefully, by the end of this article, you’ve gotten a little bit more information on how to pick a niche, and you’re one step closer to starting your online business.
There are a few reasons as to why you should niche down when starting an online business, but here are a few of the essential ones:
When picking your niche, there are 2 critical aspects that you have to keep in mind, which are passion and money. In my opinion, you need both to have a “successful” business (my definition of a successful business is a business that you’re passionate about that simultaneously makes you money).
Let’s start with the passion part of the equation.
Passion is crucial when picking a niche, and this is for one reason: you’re gonna be spending a lot of time on your online business. Your online business is going to be one of the biggest sources of stress, headaches, nightmares, and a bunch of other negative stuff that I can’t really think of ATM.
What’s going to make all of this effort, time, and sweat equity bearable is if you’re building a business around something you’re passionate about.
Take video games for example – if you’ve ever played a video game that you love, you know that literally hours could pass by without you even noticing how much time you’ve spent on it.
As a kid, I could play Zelda: Ocarina of Time on the Nintendo 64 for a whole day without getting bored.
Even though there would be a bunch of stress and headaches that came with the game and the hundreds of boss fights that I would lose (and cry over because I was caught in a constant losing streak), I’d still be able to cope with this stress because I loved the game.
On the other hand, try and get me to do spring cleaning for even 30 minutes, and I’d be sobbing away to my mother that my arms and legs hurt from the basketball game the night before (which doesn’t even make sense, because I spent 99% of my time on the bench anyways).
The point that I’m trying to make is that building a business based on your passion will make the workload endurable – so niche down to something you love.
The second critical aspect in choosing a niche is picking something that you can actually make money in.
This part of the equation is a lot easier in my opinion than selecting one that you’re passionate about because you can go online and do some research and within 5 minutes know whether or not your niche is something that you can build a profitable business around.
For example, if you have an overwhelming and insatiable love for board games, go online and do some research about businesses created around board games. Maybe there’s a business that created and marketed their own board game.
Perhaps you could create an affiliate website around board games if such things even exist.
Go on to Amazon, Youtube, Google, Ebay, Facebook – just scope out the niche and see if there’s money being spent in the niche. If there is, then there’s a good chance that you can create a successful business around it.
Oh, and by the way, don’t think that your passion is too exotic or out-of-this-world to make money from.
I remember reading somewhere that there’s this chick who gets paid to fly out to race horse stables and talk to the horses before their races. Apparently, she gives them encouragement or something along those lines and helps them win the races.
If she can get paid to do that, I’m sure you can get paid to create a business around your passion.
Here are a few last comments I’d like to say about picking a niche for your online business:
And that’s all that I have to say about picking a niche! I’m sure whatever niche you choose you’ll do fine in. Remember, don’t be too overwhelmed, just pick one that feels right to you and get to work.
Catch ya later ya internet marketing fanatics!