Choosing a Niche - Ask Yourself These Questions

Last Update: April 08, 2016

Choosing a niche can be very difficult, especially if you are someone who really does not know what they want their online business to be about. Below I have put forth some helpful tips that will get your juices flowing and get you on your way to the perfect niche for you.

First of all, and I cannot stress this enough, your niche should be about a topic you are passionate about, and I mean, totally into, like you read magazines on the topic, search online, do it (like a sport), shop for it (such as make-up), preach it or otherwise. If you love what you do it will make the days fly by, the hours will not feel like work, and your success rate is exponentially higher bc you will put in the effort it needs voluntarily and with love.

Here is a great exercise:

Assume you are in a "perfect world", meaning that there are no barriers or limits or obstacles in your way, so you can do whatever you want to, no matter how unrealistic is seems at the moment-if you dream, dream big.

Ask yourself these questions:

1. You wake up in the morning and leave for work to do something you absolutely love to do. Do not limit yourself bc we are in a perfect world. There is a business for absolutely any hobby or interest that you have. What are you doing? Hint-think about the kind of clothes you would wear, would you be at home or in an office? what kind of hours would you work and would you have staff?

2. What do you like to do on your day off or free time? This could be something you never get to do otherwise because of how busy you are.

3. What have you enjoyed since you were a kid? and still do?

4. If money were no issue what would you do everyday? Get up get dressed, get in your car and go where?

5.What do other people tell you that you are good at? In fact, ask them! Come out and ask, "what do you think I am good at"?. My coaching clients are required to do this by email to 10 people and they are amazed at the responses they get. If you have the courage to do this- it's a fantastic insight into yourself.

Think on the questions and let them mull around in your brain. Do not try to force the answer, it will come to you when it is ready, when you least expect it. Just make sure that you have a positive attitude about success and the confidence that you can do anything you put your mind to. The mental game is 90% of the battle.

Need more help, pls contact me.
Lori

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Asamad Premium
Awsome...Lori..I've just subscribed today...your word would be an excellent boot to the success..thanks..
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Hi Lori,

In response to your comment: "If you love what you do it will make the days fly by, the hours will not feel like work, and your success rate is exponentially higher bc you will put in the effort it needs voluntarily and with love."

I am presently stuck on the niche because I am caught in between choosing what I love which I haven't been able to practice and do daily or for any commensurable period of time, and between that which I feel a calling to do out of duty. I havnt engaged yet on the topics of duty and calling so I suppose I couldn't know if I would perhaps "love" it. But I dont want to start something else and realize I should have chose the thing I love to do instead. I also feel that what I love and want to do, I wouldn't be able to express alot of ideas with given that I have only recently come to discover that which I consider love and could see myself getting lost in if it were a "perfect world."

Also, if one loves what they are doing, why would they want the days to fly by at all. Would they even bother making that association? Just a thought.

So im stuck in between duty and that which everyone says to do, something you love. Im wondering if my present situation and lacking is blinding my decision making process in this. I feel for most it is easier. I suppose I could do multiple topics, but as I am just getting started I wouldnt want to confuse or distract myself more than I already am.
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JudeP Premium
I would go with what you love doing and talking about to be honest as you will discover that content comes to you far more easily :)
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Lori3030 Premium
Hi, sorry for the delay in replying but I just moved and have not been online for a week or so. I would go with your passion even if it is new to you. But I am curious what it is and why you feel that you have a duty to do otherwise. What is the basis for your feeling that way? Are your passion and duty careers mutually exclusive?
But, remember, nothing is forever or written in stone. Whatever decision you make now is important but it is not for life and you can change later on.
By the days fly by, I mean that the hours are a joy and not an obligation.
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bamannisi Premium
I'm going to take you up on your offer and once my website's up, ask you what you think. Thanks
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Lori3030 Premium
with pleasure!
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bamannisi Premium
I like what you offer! Thanks for this. Very interesting. It reinforces what I've been thinking for, well, years now. Taking something I love and try to monetize it.
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Sui_generis Premium
Ugh, you took this blog right out from under me. I have the hand written notes sitting here in front of my but didn't write the blog. I snoozed......I loozed. ;-) Nice blog. ~Debbi
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Lori3030 Premium
lol... i am sure you can still write yours...
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crazyjoe Premium
Great Tips Lori...Thanks!

In my perfect world I would be playing hockey in the NHL with the Toronto Maple Leafs...

I"m thinking of creating a new website selling NHL merchandise through http://Shop.NHL.com affiliate program

Actually...just registered a new domain with godaddy...

New site will be called www.IceJersey.ca selling NHL ice hockey jerseys..
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Lori3030 Premium
The NHL does have a great program and the stuff must sell because even Avon got into the game and they have a separate book dedicate to Hockey/baseball items (depending on the season) for the Montreal and Toronto teams. I am a Montreal fan myself, I live in Montreal.
I went to the NHL affiliate site and they do have a ton of products to sell. That is really important bc you cannot limit yourself to one team or one sport. You need seasonal items and other retail products to really generate the money bc a person may buy 1 or 2 t-shirts- but may spend hundreds on other items and that is really where the money is, on the upsell and not the original product.
My $0.02 would be to create your own private label of accessories with your logo on it and sell those as well. On those items you make 100% commission and that is where the big money is. Market your own water bottles, start with one product but a couple of different ones, esp the ones that keep your beer cold, and your coffee hot. This way when people are at games, your logo will be seem by hundreds if not thousand's at a time. You put your logo and URL and it will drive traffic to your site. You can't buy that kind of visibility with any other form of media.
With a great e-mail campaign to your subscribers (they sign up on your site) you can have offers going all the time to create excitement for your products and create more sales from the same people.
Did this help you at all?
I went to the site, it is not up- please let me know when it is I would love to have a look at it and give you my comments.
Lori
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crazyjoe Premium
Thanks Lori for the solid advice
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Lori3030 Premium
with pleasure, feel free to private message me for more anytime.
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Lori3030 Premium
How's it going?
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rumpke5 Premium
This is great and helpful info! I think most people think of a niche trying to base it around what they think will be successful with people and what they think would be more lucrative, but there are millions of people out there and a lot more people than we think that enjoy the same things!
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Very helpful post thank you for sending this to me!!
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JudeP Premium
Great post, thanks Lori :)
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Lori3030 Premium
thanks Jude.
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Thanks Lori. Your ideas are very mind-expanding. regards Jan
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Lori3030 Premium
Thanks so much for the great feedback!
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MarciM Premium
Enjoyed your blog-really good, helpful suggestions. You are very positive & encouraging. Thank you for sharing your knowledge with us!
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Lori3030 Premium
I am always very positive- being negative gets me nowhere!
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Brooklyn2008 Premium
Those are really great strategies Lori! I never would have thought of asking people by email. I'm glad that I can answer that my niche can fit into all of those categories. But, if I were to ask people what I am good at, they might have a few different answers depending on who I asked.
If I asked my co-workers, they would say that I am great at figuring out IT problems, learning new software, and figuring out formatting problems. I'm also really great at multitasking and web research. Which, I can see how all of that can tie into building an online business here!
If I were to ask friends and old co-workers, they would say that I am great and helping people with their finances and negotiating with their creditors (a job position I used to have and still continue to help people with).
So, all of these skills I can apply to my online success I believe. And, down the road, I may just have to start up another site that will tie into my passion of helping people with their finances :)
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Lori3030 Premium
here is my 0.02, I hear from what you wrote that you are good with software and finances and have good interpersonal skills. I really never encourage multi-tasking bc none of the tasks gets 100% of your attention so they are all at 50% of how well you could done it and not 100%.
There are a lot of online biz's teaching people how to manage money however, none of them really reach out to a specific niche. Here area couple of examples, divorced women who may not have worked or now have money but do not know how to manage it, seniors who need someone to manage their budget so they can live comfortable on the money they have in their retirement fund, students who just finished school and are now making money that they never had before. These are all niches within your areas of expertise. You can then sell affiliate products like financial software, the WA program. Rich Dad Poor Dad products and much more. Concentrate on people who have never had to budget or manage money before. Also, you will find the most personal satisfaction and reward from this group and your passion will grow and we all know what passion brings.... KACHING!
anyhow.... just off the top of my head- those came up.
check out this site to get some ideas http://maxworth.ca/
best,
Lori
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Brooklyn2008 Premium
Those are some really great ideas!! I have helped my parents out with their finances once they were forced into retirement, and a lot of the clients I used to have when I was negotiating debt, were newly divorced or on the verge of, and early twenties who just spent and spent.
Rich Dad is a great book and same with Gale from Until Debt do us part. I will definitely give all of this some serious thought!!
Thanks again Lori. I'm glad we've connected!! :)
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Lori3030 Premium
anytime- feel free to come back again for more.... but let's continue by private message - best, Lori
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markstafford Premium
Great post Lori!
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Lori3030 Premium
thanks! if you need some help narrowing yours down- let me know!
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Kit-Wealth Premium
Great post Lori!
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Lori3030 Premium
thanks! means a lot to have great feedback.
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Lori3030 Premium
Oh I am so glad you think so and that you took the time to let me know. That means a lot to me and is the reason I do these posts.
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StuartI Premium
I agree with Steve, terrific recommendations!
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stevecox Premium
TERRIFIC recommendations, thanks Lori !!!
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