Show Me the Money…How to Quickly Identify Your Online Money Making Niche
Break Big Market Categories Down Into Niches and Sub-Niches
Okay, so now you know you want to help people live longer by having a healthy lifestyle… or maybe you want to help people make or save more money… or maybe you love writing and want to help people learn to write and find writing jobs…how do you identify a niche within the category?
Start by breaking down a category into a market niche and then break the niche down into a sub-niche like the illustrations below.
Business & Money
New Business Start-ups
Make Money Online From Home for people who have been unemployed for a year or more
Health & Fitness
Weight Loss with Juicing
Home School Your Kids for stay-at home moms
Food & Cooking
How to become a celebrity chef
Sports & Gaming
Best Buys on golf shoes and accessories for Women Golfers
The reason to break the big niche like “weight loss” into a sub-niche like “weight-loss with juicing” or “weight loss for women who are more than 50 pounds overweight” is because 1) it’s easier to pinpoint specific problems and identify specific solutions and 2) it is much easier to make a name for yourself and establish yourself as the “go to” authority in a more narrow niche.
Don’t worry about getting too narrow at this point. In fact, the more specific you can be in identifying the needs of a subset of people in the market the more likely you are as a solo-preneuer to succeed.
Remember you are a small fish swimming in a giant ocean of product vendors. Your goal as an online niche marketer is to find your sweet spot among all the competitors for the wallet share of your target audience.
Don’t worry. In a later section of this training, I’ll show you how to do a quick five-minute money test to determine the profitability of your niche.