Finding a profitable niche is your step of entry to legitimately make money online. A very common mistake that most aspiring work-from-homers make is not to see Make Money Online as a real business which like any other business involves risks of success and failure.
This article is not meant to discourage rather highlight best practices so that you know what you are getting to. You will be able to set up your mind on the right track and avoid the online “get rich quick” scams, wasting time and money on things which doesn’t work.
Characteristics of a good niche.
A good niche must be able to:
- solve a problem.
- provide solutions and value to your readers
A profitable niche is based around what people are actually looking for over the internet. People are searching for solutions to their problems. If you are the guy or the gal who will help them solve those problems they will stick around with you. They will like you, trust you, come back to your site or your blog to read more from you. That is a good thing.
And when this happens, it means you have found your customer base, your loyal fans that will buy from you again and again.
How to find a good niche for your business?
1. Plan and decide the type of lucrative business you want to run.
Having a business mindset when working online is crucial to your success. Plan which type of business you want to do and how you are going to find your customers.
Business options include and are not limited to:
- creating or selling your own products: information or physical products.
- providing a service if you are an expert, a consultant in a profitable niche, a writer, photographer, etc..
- promoting other people’s products or services through affiliate programs.
- CPA Marketing
You can read a more comprehensive list in Can You Really Make Legitimate Money Online?
2. Follow Your Passion
When selecting your niche, you are encouraged to play around things you are good at, your skills and interests. This will increase your commitment and help you build a more sustainable business.
However, choose a large audience. The reason is simple. You don’t want to commit a lot of time and money in something that will bring you little or nothing. It is completely OK if you’re not in it to make a living. 😉
3. Plan for Success and set nothing less.
Easier said than done. But here is what I mean.
Often I see newbies pick a niche, commit with it for few days, weeks and months, then give up after few typical pitfalls and roadblocks.
You can’t build a business like this.
No one or better no sound Guru can guarantee your success online. You’ll have to earn it.
“Success is not an accident” a flat out right fact I like to read on Paul B Evans email signature.
Paul is the founder of Nicheology.com
Oh I wish I read and applied these basic principles when I get started! Hope you don’t make the same mistakes I did.
Follow Your Passion Or the Money?
The opinions are diverse on this topic. You will hear both arguments.
But I strongly believe you better follow your passion on a profitable niche in order to keep the momentum. By passion I mean anything that keep you awake at night, anything that motivate you, that you feel comfortable with.
There is of course no financial benefit to commit hours, even sleepless nights on something that you love but don’t bring food on the table. I assume you have a family and obligations to discharge! Otherwise, you are in the wrong place.
When you succeed at one particular niche, it will be easier for you to improve, duplicate or scale your success to other niches. Don’t rush on this particular step. When you find a good niche you profit from, you will find ways for the freedom that you and your loved ones deserve.
Your Today Action Step:
Pick your niche and decide to commit at least six months to a year working on it alone. To help you out in finding profitable niches worth your time and money, take a look at Nicheology.com. Joining is free to get the basics. Learn and copy from the experts.
By all means search your niche well and let’s make some legit money online!
Nicheology is on the expert hands of Paul Evans.
Here are few of the value you get:
- A broad selection of niches are covered
- Unique “Products in the Rough” help you accomplish content creation quickly
- Deep research means only truly profitable niches are covered
- More resources than almost any other PLR site I’ve seen
- Excellent member support and customer service