This is a video I made for the Passive Income Shortcut Members that covers…
- Which type of niche you should get into when you’re first starting out
- What are the 2 most profitable niche categories
- The 16 “evergreen” niches that will always be profitable
- How to dominate your niche if you’re NOT an expert
- The fastest and most effective way to break into a niche and quickly become the “go-to” person in that niche
Information Niches Over Product Niches
First start with information niches rather than product niches. Why? Information is easy, and many times free to create. You also can’t quantify the value of information, meaning you can charge a premium for your stuff by driving up the perceived value. Of course, you need to be providing quality information.
The Two Best Types of Niches
The two best types of niches are desperation niches and hobby niches. Desperation niches include people who are desperate for an immediate solution to their problems. These people are the easiest to sell to. However, they are in a worried and sometimes depressed state, so these customers may not be that fun to deal with.
Examples of evergreen desperation niches include:
- Weight loss
- Make more money
- Freedom from debt
- Self defense
Hobby niches include people who are passionate about a hobby and willing to spend money on it- over and over again. Unlike the desperation niche, these people are more fun to have as customers.
Examples of evergreen hobby niches include:
- Learning an instrument
- Sports and athletics
- Video games
- Home improvement
The 4 Key Niche Selection Criteria
These are 4 very important points you must consider and research before jumping into a new niche. If you can answer yes to the following questions, you have a very profitable niche on your hands:
1. Does your niche purchase products ALL year round?
2. Does your niche purchase multiple products?
3. Does your niche have an online hang out spot (forums, message boards, discussion and news groups)
4. Are there other online businesses already successfully serving that niche?
The last point is crucial because competition is a sign that the niche is profitable. Rather than view these other business as your direct competition, see them as already successful people who are serving your niche that you can model YOUR business after. Study what they’re doing and apply it to your business. There’s no need to reinvent the wheel.
The most obvious niche is one where you can leverage your knowledge and expertise.
If you can’t, then leverage another skill or talent you have. This is anything that comes easy to you, but others may find it difficult. For example, say that you love golf but you aren’t an expert by any means. However, you do have great communication skills. You One way to leverage that would be to interview successful golfers and make that the core of your business.
One of the biggest misconceptions about marketing is that you need to be an expert in your niche. That’s not true. You just need to deliver the information that your target audience wants in the most effective way possible.
Everyone (yes, even you) has something unique about them that they can leverage. If you can’t pin point your natural strengths, skills and talents, ask your friends and family. You may be surprised about what they’ll tell you!
Breaking Into A Niche
It’s difficult to break into an established niche at a surface level. You may need to drill deeper and start dominating sub-niches first.
What I mean is this: If you want to get into the dating advice niche, it would be difficult to compete if you focused on a topic that broad right away. Instead, start with something more narrow, such as dating advice for men over 40. Or even dating advice for Asian men over 40 if the market is really big.
Once you gain a following and become the “go-to” guy for your sub-niche, it’s much easier to go broader and market to a larger chunk of the niche.
It’s Time For YOU to Choose a Niche And Start Making Money
I just gave you the down-and-dirty guidelines to selecting a $100/day niche. There is no need to over-complicate things and mull over your choice for days and weeks. Just pick and go. You really can’t go wrong if you follow these guidelines, as I and thousands of other successful online marketers have followed these to create many profitable internet businesses.
After choosing a niche, it’s time to set up the rest of your $100/day online business.