Without the enthusiasm to do the things you do, it’s pretty tough to get over the business bumps that will arise.
You’ll feel more like you’re giving 80% and getting just 20% rewards from all your efforts.
Don’t chase the monetary reward carrot on a string. All of these niche market examples are from people that fell into huge businesses by following a passion and being of service to an audience at scale.
They are working on a business that birthed from the inside of them.
If you chase the money a particular niche might have available as your only reason for entering it,
you will wake up one day, hate the money and hate what you do, and never find true success.
When it is time for you to determine your niche market, there are several things you can do to help with the process. First, you want to identify your passions and interests,and if you have already taken the time to do this, you should then consider what kind of problems you may be having.
Once this is done, you can then begin to research the competition which can also help determine the profitability of your chosen niche market. Finally, you can then put your niche market ideas to the test to see if it really is a good fit for you.
Is My Chosen Niche Too Narrow or Too Broad?
If you find that your niche topic is too narrow, then you may find it difficult to get enough traffic to your site. You may also quickly run out of things to say which results in less content being used on your site. On the other hand, if your chosen niche market has too much of a broad topic, you will lose focus and so will your readers because there may be too much to keep up with.
Therefore, it is important to choose a core topic to focus on and then decide what your blog posts should really be about and what they should offer your readers. You can then choose to use different outlets for any other interests you may have.
How to Choose a Profitable Niche
When you stop and consider your interests and problems, it will be easy to come up with a niche market that will be profitable. Stop and consider things from more of a marketing point of view and then begin to examine trends and markets on the niche website you have come up with that might be your competition. Market research is one of the most important steps when it comes to determining if your chosen niche topic will be profitable or not.
Here are three real-life niche marketing examples and three stories of successful internet entrepreneurs that fell into brilliant niches that came from the inside of them and are now experiencing significant and profitable online business and life success.
Three Real-Life Niche Market Examples
If you'd prefer to listen to this content from the video above, play it or download it from the podcast episode below.
1. Niche Market Idea #1 : Solve A Problem You Have
Finding a niche can be difficult. What’s that biggest problem that you have?
The right niche for you can come out of a huge problem that you’re having.
Think about it, If you have this problem, how many others in the world are experiencing the same thing and need a solution too?
Investment Woe Turned Financial Guru Podcast
My friend Johnny FD sold a business and made $60,000 from the sale!
Johnny wanted to figure out what he could do with that amount of cashso itwould set him up for the long-term instead of running it dry in a year.
He wanted to invest the money but had no idea how to do it.
What did he do?
He began the Invest Like A Boss Podcast with a buddy asking financial guru’s advice on how to invest the money!
They went straight to the experts. They started talking with brilliant people who are in the financial world. They were interviewing them, getting answers, and they documented the whole thing. They were able to build a podcast around this concept of what to do with the money.
The people they interviewed have been creating a bunch of financial services and financial apps with AI technology which helps a lot of people.
So not only did they find the solution to the problem they have, but they are also helping a bunch of other people that want to know how to invest like a boss too.
Since they were aware the average person knows nothing about those financial jargons and what-not, they broke down the concepts taught by these financial gurus and put them into normal person language.
They make these financial concepts easy to understand, and they now have a podcast with a growing target audience.
That’s the question you need to answer when deciding on the right niche for yourself.
Johnny and Sam have a long-term business that’s just going to continue growing because they’re helping people and helping themselves along the way. They put so much value into their content, in what they give to others, and how to help solve actual problems they have.
Maybe you can nail down a good niche by asking yourself the same question.
What is a problem that I have right now that will take me 3-4 years to figure out an answer?
2. Create A Niche Out Of Your Passion
If you love what you’re doing, it’s not called work. It’s called play.
Don’t you hate having to wake up each day and getting that heavy feeling in your body because you know you’re heading to your 8-5 job again that you don’t want to do?
Here I am grinding away in something that just sucks the life out of me, but I’m still doing it.But what if you can pick that one thing you love the most, something that makes you feel so alive, and bring it out to the world?
When you choose a niche, it may not necessarily bring money in right away. Maybe you’re not even thinking about the money at this point. All you might care about is living your passion and helping others who are into it.A bonus would be getting paid to talk about what you love.
My friends Ben and Nicola turned their expertise in fitness and their knowledge in online business into an online fitness program.Their business was doing okay at first, but because of so much competition in this particular niche market, they had a difficult time standing out in the crowd since thousands of people already had the same idea.
Their problem actually ended up being a blessing in disguise, though, because that got them into thinking about something else they could do. They began to think of other routes they could take to break away from the crowd finally.
Dressage Rider + Health and Fitness were born. Nicola is into horses and dressage riding. It is something she’d do the rest of her life regardless of making money in it or not.She has a horse and loves riding every day.They combined their fitness expertise and Nicola's love of dressage riding and built a business.
A dressage rider health and fitness product and guess what?They’re crushing this niche market because they invented it. They created a need for it. They stand out as the authority in this market because there is no one else who thought to combine these two different spaces.
The more you give of yourself, the more you get to build a target audience and find that ideal client that will know, like, and trust you.And believe me, that’s when the money will start to flow.
This question is how my wife and I found our successful business, Ben and Nicola found theirs, and maybe the question to answer to see what niche market you could be most successful in as well.
3. Teach From Your Expertise
I had a neighbor when I was staying in New Zealand who had been surfing New Zealand all his life.
He's a local and knows all the surf breaks in the country. He paddles out and rides the waves almost every single day,and he’s pretty much the go-to person for New Zealand surfing.
So, this guy is legit. He lived on the beach for 20+ years, travels the country to different surf spots when they are firing, and paddles out just about every day. And again, he has been doing all of this for 20 years!
Surfing in New Zealand what he loves to do the most. He breathes it all inand loves teaching travelers to New Zealand the best surf spots.
When he wrote his book called The Surfing Guide to New Zealand, it quickly became the ultimate New Zealand where to surf resource because he had surfed them all many times.
A project like this comprehensive 550-page book about all of the places to surf in New Zealand would be near impossible for most of us to research and compile.
But the content was already inside of him simply because he has surfed all of these locations many times throughout his life.
He compiled his insider secrets, outsourced the design, got a publisher, and now he’s selling these books all over the world.
He mostly ships them to North Americaand his decision to sell in US Dollars is brilliant because the Kiwi Dollar is lower in value compared to the U.S. dollar.
At present, he’s kind of in his retirement years, but still makes a passive income from his information product that was almost effortless to create because he already had all the knowledge and expertise in that area.
He simply provided a solution out of his life experience and created an information product that equips surfers with the information they need when wanting to know the ins and outs of New Zealand surfing spots.
What expertise do you have? What information do you know like the back of your hand that others want and need?
The Next Step: Become The Authority in Your Niche Market
What started as a hobby for these people ended up becoming a booming business, an unexpected money-making venture.
It’s nothing like buying cheaply made products from China, dumping them on Amazon, then hoping your drop shipping business will take off.
I’m talking about really having that super solid love affair with your craft, your skill, your hobby, and sending out an authentic message to the world because you’ve got something to share with others.
That’s the message behind these three examples of niche marketers who created a space in their chosen market and came up with niche market products that sell. It’s all because what they were doing felt so natural. It was nothing forced; it was pure passion.
What do you feel deep within you? What is that individual message you want to share that’s hidden within your passion, within your expertise, within what you love to do? Uncover that, open it up, document it, and become a content creator around what you love.You’ll be amazed at what happens after that.
Do what you love, be of service to your niche, and the money will follow. The most important thing to remember when considering different niche markets is always to live your passion; we’re talking about Lifestyle Design!
Help others along the way by sharing what you know and inspiring them each day.The love is there, the joy is there, and you justhave tolet it shine through the content you’re sending out to the world.
People see through your spoken and written words and your audience has wised up and they know whether you’re giving them authentic content and information or nothing but unnecessary fluff and filler.
Ask yourself these questions.
What is a problem that I have right now that will take me 3-4 years to figure out the solution?
What is something that you are super passionate about, something that you want to do every day regardless of if you make money doing it or not?
What information do you know like the back of your hand, and you want to keep learning about your whole life?
The best niche of choice for you is in the answer to one or all of those questions.
Write down your answer, quit researching, and start doing.
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Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.