One of the first things you have to determine when you are trying to make money online is what niche you want to work in. This really is a big decision and deserves a lot of thought and consideration. Starting an online business is no different than starting any other type of business. You need to decide what your business is going to be about. You need to know how
to find your niche.
There are three main ways that most people get their start marketing online. You can find your niche by:
- You start with a hobby or personal interest
- You start with something you think can make you a lot of money
- You start with some product or idea that you got in an e-mail or as part of some internet marketing course you took
Each one of these approaches to finding your niche has its own positives and negatives.
You can find your niche by starting with a hobby or personal interest. It is a good way to start because you probably know a lot about the subject matter and it is easy for you to write about. You have more natural passion for the subject matter so you can easily get excited and stay interested. The only real downside to this is that your niche may be limited or small. This can greatly limit how much you can make online. It really all depends on what your niche is but sometimes your “hobby” business can be limiting.
In real estate their is a saying “fall in love with the deal, not the house”. This is referring to the fact that most of us can’t help but look at a house as someplace the we might want to live in. However, the real way to look at a house in terms of as an investment has more to do with how much you can get it for and what it is worth. So you should focus on the “deal” or business part of the house, not how attractive it is to you to live in.
You can find your niche the same way in online marketing. the way. For example, some people hear that there is a lot of money to be made in the “dieting” niche so they go after that. The good thing here is that if you have done your homework the niche is lucrative and you can make a lot of money. However, you might not know anything about the dieting niche. So you have a ton of research and catching up to do. Also, niches that are known to be lucrative are also very competitive. So its a double edged sword. Lots of money to be made, lots of people trying to make it.
Another group of online marketers start chasing after every product or niche that some guru tells them to pursue. This starts out innocently enough. You take someone’s course on Article, Facebook or YouTube Marketing. In that course they show how they used their techniques to make money in a certain niche that they are in. The next thing you know you are trying to do the same thing. Then you take another course and bam, you’re chasing another niche. This is an endless cycle. If you get lucky, you may find a niche that works for you. If you do stick with it and don’t get too distracted but the next hot niche that comes along. I don’t recommend this approach to find your niche but I know it happens a lot and I understand why it happens. Try to find your niche by thinking about what you really want to do, not what someone else is telling you to do. What are you passionate about?
In summary, we would recommend that beginners get started with something that you have an interest in. Start with your hobby niche. Some people will tell you that you have to move on from your hobby niche to make any real money online but they maybe wrong. That is what happened to me with the golf niche. I got started with it and then hit a plateau. A lot of guru’s said I had to give that up and get into a more lucrative niche to make any real money online. It turns out they were wrong. It took a while but I found a way to grow that business.
It is easier to learn how to make money online by starting with a category or niche that you are familiar with. You can learn what techniques and approaches work with you. Once you have an approach you can apply this to other niches and grow your online business but it is easier to start this way.
Then you can fall in love with the deals like the real estate people. The truth is if you start to make money with a niche it is amazing how quickly you can get into it and learn about it. Profit is a great motivator. So once you’ve figured out how to make things work with your hobby niche you can apply that to more competitive and lucrative niches.
Finally I don’t ever recommend method three which is just chasing after what some other guru or online marketer told you. Most likely they want you to get into whatever they are promoting. Start with what you know and move onto the things that you have determined to make the most business sense for you. Do your own analysis and stick to it.