Niche Refinement Plan

Last Update: May 08, 2019

[I can't seem to get the headlines to work this time, perhaps I shouldn't copy and paste from Open Office].....

Hi Folks, here again, this time blabbing about niches. Specifically, my niche about Mindset and how I intend to refine it, market it, and so on.

Some Background

Due to my promises to produce video training on MINDSET, I need to develop a plan to bring this niche to market. So I'll do some transparent training blogs, as it were, so that people know I'm making some kind of progress and not just whistling Dixie.

Having recently announced I've found a niche that's related to my destiny (mindset), it's now time to refine that niche definition so I can then evaluate the marketplace for it.

I'm gearing up to do WA and YouTube training on this:

https://my.wealthyaffiliate.com/marchanna/blog/mindset-homeo...

I thought I'd start with some blog 'training' on the steps I'm taking to get there. That is, to the point I can take it to the videos I've promised to make.

Hoping to generate random interest is too hopeful :). And I happen to know there is a marketplace for my niche. Even if it's not so popular with affiliates (not sure yet), there is plenty of market out there interested in books, courses and live group training, all trying to figure out how to improve mindset.

It's a pervasive topic, really.

That's evident by the plethora of materials, videos and seminars on helping people with mindset –here's just a few:

Think and Grow Rich

Secrets of the Millionaire Mind

The Seven Habits of Highly Effective People

Need I go on? Surely the niche is real.

Therefore, I'd be surprised if there are not plenty of affiliate programs out there of various quality.

Research

I did some research / revision on niche selection, starting with Kyle, here:

https://my.wealthyaffiliate.com/training/online-entrepreneur...

Beware, my blog does not always follow Kyle's methodology as set out in his Online Entrepreneur Certification plan.

Specifically, I disagree with some points made about niche selection and when to do it.

Before the keening starts, I still suggest persons new to WA use Kyle's training to get started.

You have to start somewhere and selection of a niche is not a bad place!

ButI'm not new to WA. Further, I'm stating unequivocally that developing your mindset is a much better place to start and do it well before picking a niche.

Here are some very important points Kyle makes:

First, it should be a passion. Now, he also says it could be an interest or a hobby, but I say it also should be one you are passionate about anyway.

Second, and very important – you don't need to start as an expert, but you better plan on becoming one.

I failed this test on my first niche attempt. Started out with some stuff about medical conditions and actually, I don't care enough about it to want to become an expert about it.

So, five domain names later -- that one was AXED!

Kyle also says that if you are going to be an expert on your niche, you better read about it a lot, communicate well about it, comprehend customer's needs/wants, be able to review products in the niche and figure out core problems in the niche.

Wise words!

Now, this issue of core problems in the niche. Yes, such as, for example, if the people in the niche don't have any money. That's a real core problem.

Unfortunately, Kyle goes on to say that there is no such thing as choosing the wrong niche.

Sorry, I disagree. See above.

You do need to do some basic market research about the viability of the niche to make you money.

That's why a safe bet is to sell WA memberships. Good niche (making money on-line) and Great affiliate product!

Except I'm not into that at the moment, so that's out for me.

Alex explains the niche conundrum in his usual nice way on his blog post, here:

https://my.wealthyaffiliate.com/alexevans/blog/those-super-evergreen-niches

In fact, he talks about the evergreen niches, Health, Wealth and Love.

Evergreen niches being sustainable as in green energy being sustainable but probably more profitable to you to be in an evergreen niche :)

Fourth profitable niche feeds the other three: Self improvement, or self-discovery leading to self-improvement.

Because a basic question that has to be answered in the other three niches always includes how one needs to improve oneself in order to succeed in Health, Wealth and Love niches.

Unless you already know how, which means you probably aren't reading this particular blog :)

A guy worth looking up on the Internet is David Sharpe. As he competes with WA, for the record I haven't spent any money on his program, nor do I affiliate, but I did take his free training on all of this, and let me share some tips I took away. This stuff can be found elsewhere on the Internet, it's generic information; Dave just organizes it well.

  • In your niche, you need to know if customers are known to buy stuff, if the business can be marketed profitably online (are the commissions decent) and finally, you have to like the niche.
  • You won't be able to pick a non-competitive niche. It's a myth.
  • People already know what works, and what doesn't.
  • The proven niches are health, wealth, relationships and self-improvement.
  • There are three ways to grow a business a) get more customers b) increase transaction amounts from each customer c) increase the frequency of transactions from existing customers.
  • If it is hard to find an affiliate program for your niche, then NO ONE IS INTERESTED.
  • Research the product marketing owner company, review the site, review their marketing materials and make sure that their material you are trying to sell, makes people want to buy what the offer. Otherwise, they aren't professional enough.
  • Check to see if the have social proof about their product successes.

Blogging vs YouTube

Guys, gals, ladies, gentlemen, I'm going with YouTube.

I'll use one-page opt-in websites with free gifts and email collections and then linking to my main content website/YouTubeChannel, get the email by offering a free gift (a book I write or a video sharing secrets – very important secrets people do need to know.

I'll drive traffic to the landing page (free and paid) and eventually (gulp) tackle social media that I don't like to touch with my spare 11-foot pole.

We all have our weaknesses. Yeah, tarantulas and social media are my fright nights ;)

I'll set up a sales funnel using the various approaches.

Sarah Staar is a good one to check out, she's great explaining Internet sales funnels for affiliate marketing and she has a lot of free stuff. Again, I don't buy or affiliate with her. Again, the stuff she shares is stuff that can be found elsewhere on the Internet, she just explains it well.

I'll be explaining all of these processes this as I go on. WA members getting paid forward on this, my contribution. I hope its helpful for those of you interested.

Now, onto:

a) refining the niche

b) researching the affiliate programs

c) again refining the niche based on this research

d) keyword searches

e) domain name selection

Shh.... I already did e) domain name selection but I always jump the gun on domain names.

Cheers and remember just do it and never, never quit!

Marc

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Babou3 Premium
Thanks for this helpful and useful post!

Have a great day!
Ingrid
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MineThatBird Premium
This is very helpful! Some of these factors are critical and should be part of the process in niche selection.
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marchanna Premium
Glad it has helped you in some way!
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FKelso Premium
You have a challenging project. Good luck to you.

By the way, add Bob Proctor's "You Were Born Rich" to your collection if he isn't already there.
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marchanna Premium
Thanks for stopping by again, Fran!

It's not worth it if it's not challenging. If it's not challenging, there is no personal growth.

I have the skills and abilities, so luck won't be a factor. What will be the main factor is maintaining mindset!

Thanks for the tip about Mr. Proctor. You are the second person to bring him up, interesting. I'll definitely add him to the list, although my list was by no means comprehensive, just representational.

cheers Marc
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DianneBee Premium
You've given me some ideas here...good post!
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marchanna Premium
Good!
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