My experience in selecting the right Niche

byplatinumclub

290 followers

Updated 10 years ago

My experience has been that the correct niche will give you immediate signs of positive cash flow within a short period of time, usually in the first month. In my case it generally was within the first week or two. I would suggest before you embark 100% into it, get a feel for the business first and see if it is working for you or if it has the realistic potential of working for you.

Although this may seem to be a very simplistic way of looking at things, I usually looked to see if something is making me money or not. If is not making you money, I would reconsider the niche.

I found that the market place is totally ruthless. You need to really find a "need" and most people just try to sell because there is something possible to sell. However the market may be dominated by competitors you have no chance against or so many other factors.

When I try to research a niche, in my online business, I usually try out 2 or 3 different products and compare which one performs better. 9 times out of 10, the product I never expected to do well, totally takes off like a sky rocket. That is what I select as my niche and build my business around that.

I found that the first principle is to get high traffic. The second is to have a profit strategy. Sometimes the product that brings high traffic does not necessarily make good profit. However I find ways to leverage that traffic by building a relationship with them and passively marketing a more profitable product on the back end.

Hope that gives you some insight. Please do not take my opinion as Gospel. It is just something to reflect on in order to possibly expand your thinking.

The bottom line is I am never afraid to expend all my energy even if the end result may be totally a failure. Each failure will bring you closer to your success. I would rather fail knowing I tried my best than failing with half measures and wondering if I could have succeeded if I had given it just a little more effort.

These arguments may seem contradictory but that is the world of Business. You win some and you lose some. You have to take risks and experience failure and use that failure to spur you on to never losing sight of your desire to win.

I once went through a dry patch of 6 years. No matter what I tried, it simply did not work. I never gave up. I told myself I will keep trying and give every try with all I got.

I got my inspiration from 3 sources. My mum told me when I was still a child, the story of a spider. How it struggled to spin its web and tried 8 times before it succeeded. She said I must always try to be better than the spider and at least try 9 times before giving up.

My second inspiration came from a close friend of mine during my early University days. He was a devout Christian and someone who always seem to have good advice. He once told me that there is a verse in The Book of Matthew, wherein it is stated that We will never encounter a challenge greater than our Ability to Bear. I reflected that if that was the word of God, it had to be true. I was determined to test it. To this day, I never experienced any challenge I was unable to either overcome or bear. That is obvious, because I am still alive! So this gave me greater conviction and courage to try anything new that was going to get me to my goals. That attitude got me Millions (Literally).

The last inspiration, which totally had me sold, was the story of Thomas Edison. He had tried more than 1200 times and failed in creating the light bulb. When asked how he felt about continually failing, he remarked that he never looked at it as failures. He successfully found that over 1200 ways the bulb would not work and knew he was that much closer and was more confidant now in finding a solution, I tied that to the Spider theory and thought it was more becoming of a human to have that much more endurance than the Spider seeing we have that much more abilities and opportunities.

Business success comes to those who are resilient, who continuously upgrade their knowledge and who have the wisdom to distinguish between that which is working and that which is not. Usually the short cut to all of the aforesaid is to have the right friends and that is why this forum at Wealthy Affiliate is such a Great Place to Be in.

Osman