Some Self-Inventory Guidelines

In my last blog post, I shared the value of choosing to conduct a detailed self-analysis as the FIRST step when deciding to be a successful internet and affiliate marketer. By doing this step properly or well, you will make the task of choosing a profitable niche for your business much easier.

In this post, I will share some of the different ways you can look at and use the data you gather from this step. By the way, the image I chose was from an inventory a college student did. Want a great clue and example of why this kind of exercise is invaluable? Take notice of the category named "Time Wasters."

Few students or entrepreneurs would not want to be aware of the ways they were wasting time. None of us can afford to do this, because time is the most precious resource and asset we have. Once past and lost, we can never get it back.

Let's examine some of the ways we can accomplish this extremely important step.

One way to list and examine your passions is to make a simple list. After this is done, you can use the same exact format to draw up additional lists of things like your interests, skills, hobbies and so on.

This works, but I don't like it. If it works for you, go for it. I think I have a better way to share with you, based upon my individual learning preferences. Keep in mind, though, that you should pick which way works best for you.

I use an Excel workbook to do my analysis and love how it looks and works!

Here are my guidelines for how I use the information I see. Again, feel free to use whatever formatting options you want. Just stay in Excel.

First of all, I like how clean and easy this layout looks for me. I rarely change this, with the cateogry names like "PASSION" listed horizontally across the top. I then list different activities or subjects I am passionate about, interested in, and so on down the leftmost column.

Finally, I select some appropriate color options to highlight which activities/subjects I think offer the best possibilities for me to choose as niches. There is no need to get any more complicated or creative than this, although I usually do.

OK. How do I interpret and use what the Excel worksheet is showing me?

The first thing I look at is how many categories a specific activity or subject area is checked off for. I can't emphasize enough how quick, easy, and most of all useful this is! Here's why.

Within seconds, I can accurately identify or gauge which activities/subject areas are the best choices for potential niches.

I do this because it is a mistake to choose a target niche based solely on whether or not it is a real passion of mine. Yes, passion is very important and I do not dispute this. What is far better is a passion of yours that is also a strong interest.

Sometimes, having a keen interest in something is just as good (my own opinion, of course) or nearly as good as being passionate about it. Passions, just like interests, change over time. Another solid benefit from considering your personal interests in addition to your passions is that being interested in a subject helps you be willing to learn more about it.

Two things you can be sure of, in doing business online. You will never know enough or everything about internet and affiliate marketing. There will always be room for further learning and improvement. Even the greatest gurus know and practice this.

Now I have a potential niche that I am both passionate about and interested in. Great and a very good sign. Am I done yet? No.

Do any skills and experience I have matter in choosing a profitable niche for myself as an affiliate marketer? You better believe it.

What skills and experience do for you is give you more depth and strength in the subject area. How could it not? Through gaining skills and experience, you now do things like converse with other people who have he same knowledge more confidently. These two additional categories also let you come across to your readers as a true authority.

Finally, there are my categories of hobby and fun. Do these two make sense or matter? One last time, absolutely yes. What is "wrong" or suspicious to me with a niche thta has been checked off across the first four categories and not these last two?

I'll put it this way.

As you go down your list on the left-hand side, be looking for confirmation that the subject (activities) are being checked off as you go across. This is a positive sign you should be looking for. If you say you are truly passionate about road bicycling for example, as I am, you and I should fully expect it to be checked off in some of the other categories. If not, I am not sure if I would consider that thing a good match for a niche.

Here at WA and at many other internet and affiliate marketing related sites, you keep on hearing and being told to follow your passion. Really? What happens if you say you are passionate about road bicycling and want to run an affiliate marketing blog on it.

How does it make sense, or is it a good sign, if you or I are completely unwilling to learn anything more about it? How can that help anybody in the future?

This leads me to hobbies and having fun. Want to hit a home-run? Find potential niche subjects (products or services) that are fun for you! How can you beat that? I don't think you can. One last time, it would be a suspicious or troubling sign to me if I checked off only the first four categories were checked off by me. How can I say that something I am passionate about, am interested in, have gained skills and experience at, but don't experience any fun or enjoyment doing?

Looked at in another way, it makes perfect sense to me to list my hobbies, most of all because these are activities and subject areas that give me pleasure. If I can start at the left and tick off most or all of the first four categories, I do fully hope to see a check mark under the last two.

Having a hobby that you enjoy certainly is a legitimate choice for a niche. Even if the first four columns don't have a single check mark. My only point is to put a check mark in them if it belongs and don't eliminate any hobbies that are fun for potential niches.

That is going from right to left, though, and I don't recommend that.

I hope this post and image help at least some of you choose a great niche. Good luck and let me know what you think.

Craig