How To Find A Profitable Niche Idea (Part 1)

Last Update: January 11, 2020

Congratulations for getting started with your online business. Most of us get lost with an idea of selecting the right niche. Profitable niche is the foundation of your online business success. Keep in mind after you select the niche, you should be ready to work on that niche for 1,000s of hours. That’s why if your niche is boring, you will lose the interest and that is the end of your online business. By picking the right niche, you can focus on your audience and you can build an authority website. Of course google will rank your authority website.

3 things to consider when identifying the profitable niche for your online business.

  1. Skills / Talents
  2. Passion /Hobbies
  3. Profitable Market


So the first step is to identify the skills and talents. It sounds very easy, but actually it’s not.

If you are applying for a job, you can fake about the skills in your resume. But don’t even try to fake about your skills to yourself. Your subconscious knows you better. Explore yourself, spend some time to identify your skills. There are some skills you are aware of and there are some skills you are not been aware of.

Before I continue, here is The Short Story.

Once upon a time, there was an elephant in a circus, tied with small rope to the front leg (No cage, No chain). Of course, the elephant could, at anytime can break the rope and can be free. Actually, it’s a mindset issue, the huge elephant thinks that it cannot break the rope. The huge elephant thinks it cannot be free.


Why did this happen? When the elephant was very young, the circus trainer tied the young elephant’s leg so that it cannot escape. At the young age the elephant failed many times to break the rope.


Now, the same elephant has grown up, it still kept tied with the small rope. Even though the elephant has the strength to break the rope, it is not trying to break the rope.

Same way, all of us are talented, however, we are not aware of the true potential, the true skill. We have to spend sometime to understand our true skills. There are some Skills, you may like and there are some skills you don’t like. Keep open minded, just brainstorm the skills you have.

So, create a list of all your skills using Mind Mapping Software

Here is the quick example on how the skills mind map looks like.


See you in my next blog, I have something to say on passion & hobbies.

All the best.

Shakeel


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Olushola27 Premium
Thanks.. am waiting for the next blog
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ShakeelM Premium
Thanks, Olushola
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ChigsGohel Premium
Excellent post, thank you for sharing.
Chigs
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ShakeelM Premium
Thank you, Chigs
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HeidiAnders3 Premium
Excellent post full of some great ideas! Thanks for sharing with us!!🙂
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ShakeelM Premium
Good to know, you like this idea.😀
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Kickbacked Premium
Nice post Shakeel!

Thanks for sharing your thoughts! Some nice tips!

Have a gret weekend and an awesome 2020!

~Tim
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ShakeelM Premium
Thanks, Tim
Wish you too an awesome 2020!
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Kickbacked Premium
Hi Shakeel

I liked your diagram with your talent/skills list.

Was wondering if you ever have used 'Mind Mapping'?

This works is similar to the chart you have, but it starts in the center, then branches out with a line to the ideas or things you are currently doing....it allows you to intersect or connect things which may be different or are doing with something else on this chart which you write or insert pictures.

Some peole use different colors when creating their "Mind Map"!

Onward & Upward!

Abiento!

~Tim
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ShakeelM Premium
Hi Tim,
Yes, the image you see above, was created using Mind Mapping software www.mindmeister.com It's free.

In my next blog, you will find the example of another branch.
That is the list of passion & hobbies.

Regards,
Shakeel
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Kickbacked Premium
🆒‼️

Have not seen that format before😊

Have a great week Shakeel😊

~Tim
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ShakeelM Premium
You are welcome!
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NeilBrown Premium
Great post, thanks for sharing!
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ShakeelM Premium
Thanks, Neil
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