How to Choose the Right Niche to Start an Online Business

The allure of starting an online business is that it’s so easy to make money with just a few clicks of your mouse. There are countless offers promising immediate riches if you just sign up for their program. The truth is 95% of people who start any business fail in the first 5 years so if you want to avoid that statistic you need to be committed for the long term to give yourself an opportunity to be successful.

Before getting wowed by a professionally written sales letter and buying into the program do your own research first. One of the biggest problems people face is how to choose the right niche to build your business upon. If you have no interest in a particular niche you’re not going to last long and you’ll join the 1000s of people who failed to build a profitable online business.

How to choose the right niche to start an online business.

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How to Overcome Indecisiveness and Gain Confidence

I dislike shopping with my wife because she’ll visit several shops to compare prices, colors, styles, etc before making a final decision whereas I prefer to be in and out within a few minutes of entering the store.

Why I don’t like indecisiveness

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Choosing a Niche Market: Top 7 Tips

Some folks spend days or weeks trying to find a niche they can build their online business around. Others simply dive in right away because they think they have a good idea that will be profitable only to find out later it didn’t work. Instead of wasting a lot of time and money choosing your niche market I’ve put together 7 tips that will get you up and running quickly and avoid many headaches.

Choosing a Niche Market

Top 7 Tips for Choosing a Niche Market

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How to Test Your Niche

How to Test Your Niche

So you’ve found a niche you’re excited about but have no idea if it will be profitable. The beauty of online marketing is that you can easily test things to see what works before investing large amounts of time and money. This is what large corporations do before they roll out a product. The same goes for advertisers. They track different ads to see which one works best before rolling out a whole advertising campaign.

If you’re a small business owner you can’t afford to invest lots of time and money into a product that won’t be profitable therefore it’s even more important for you to test it.

How to test your niche

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How to Find a Service Niche

How to Find a Service Niche

Think about all the services offered in your home town e.g. food, landscaping, car, accounting, post office, counseling, financial, etc. Living your life would be difficult without these services. if you want to find a service niche look for a need within your community or online.

1. Find an unmet need

The key to discovering a service niche is to offer a service that doesn’t yet exist and meets a need. For example my son wanted a job so I asked him to visit neighborhood homes to cut their lawns. Many of them were already paying high prices for a professional lawn mowing service so he could offer lower prices and still do a good job. Well, he soon found enough lawn jobs that would make him more money than if he worked at MacDonalds. He could even work less hours.

Most people search online these days instead of using the yellow pages to find services in their local area. Most of my web design customers come from the local area even though I have clients all over the world.

2. Ask questions

Instead of going with your own idea of what would work, ask people in your community what services they would like to see in their community. For example last winter my neighbor asked me if I knew of a snow shoveling service because he didn’t want to shovel 6 feet of snow off his driveway. I searched online and didn’t find anything even though I knew landscaping businesses in the area offered this service.

Obviously many offline services still don’t have an online presence.

3. Survey potential customers

You’ll have greater success if you survey 1000 people than if you just think up an idea hoping it will work. When you survey people they’ll give you ideas you never thought of. When you try to profit from an idea you thought would work, you’ll spend most of your time trying to convince people to buy it. This makes it much more difficult to be successful and often ends in failure because you get burnt out.

You’l have a much greater chance of creating a successful service niche if there is a high demand with little competition.

4. Offer your expertise

It’s easier to build a business if you already know a lot about it so think about what you are good at then search for a niche where you can offer your talents and skills. If you don’t have the skills you can always acquire them by taking classes, reading books, etc. This is how I began my web design business in the year 2000.

After you find a service niche create a plan to build and market it.

Related Articles
How to Find a Niche to Build a Profitable Online Business
How to Choose a Niche: Top 7 Mistakes
What is the Best Niche Market
How to Find Niche Products to Sell Online
How Can I Promote My Website For Free

Learn how to start and build a profitable online business with
Highly Effective Article Marketing Strategies

How to Find Niche Products to Sell Online

How to find niche products

Sometimes I watch the QVC channel to observe the latest products being sold. As the hosts talk about the product you can watch a counter on your TV screen showing the number of people purchasing the product..often surpassing hundreds within a few minutes. My wife sometimes chimes in and says ” if you could only find or invent a product like that we’d be millionaires.”

If you were Alexander Graham Bell (who invented the telephone) you’d have a product that everybody wanted however nowadays it seems like all the products have already been created. This is not true because new products are being created all the time.

How to Find Niche Products to Sell Online

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What is the Best Niche Market (’s within the 3 Big Niches)

What is the Best Niche Market
One of the biggest problems people make when searching for a niche is to choose one that doesn’t have a lot of interest or is too narrow. You need to begin with the 3 big niches then find a niche within those three. These 3 main niches refer to the essential desires of human beings. Without having a balance of these 3 a person will not find true happiness and spend lots of time and money trying to find fulfillment in the one they’re lacking.

What is the Best Niche Market: 3 Big Niches

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How to Choose a Niche: Top 7 Mistakes

choose a niche

If you wish to build a profitable online business you need to choose a niche your interested in plus it has to solve a problem. People are willing to pay good money to find solutions to their problems even if it’s an irrational fear or to fulfill an emotional desire.

Top 7 mistakes when choosing a niche

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How to Find a Niche to Build a Profitable Online Business

how to evaluate a website
One of the most profitable ways to make money online is to find a niche then build your business around it. It could be service-based (ie website design, music lessons) or product-based ( ie selling information products or hard goods). Instead of pursuing multiple niches at the same time, pick one then build it into a profitable business before moving on to the next niche.

The biggest problem

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Blueprint for Success in 2010

100 articles 100 days

How was 2009 for you?
Have you created a blueprint for success in 2010?

2009 was a tough year for me and my family. I earned much less than the previous year. The recession may have had something to do with it as I had less customers who wanted a website designed, redesigned, hosted or wanted SEO help. My family was shocked to discover my wife had a hyperactive thyroid. It took several weeks of radiation therapy (a $1000 pill) to get recover her health.

Instead of dwelling on the negative I first look at what I’m grateful for ie wife, kids, friends, house, food, clothing, health, etc. These are the reasons I work so hard at my web design company.

The key to making 2010 a great year is your mindset. If you keep a positive and grateful mind opportunities will come your way. Recently I was listening to Joel Osteen’s podcasts while exercising on the treadmill. The reason he built the largest church in the USA..he has a positive message for everyday living. I’m not a member of his church but find his words encouraging and uplifting (unlike
the news or naysayers).

I suggest listening to one of his podcasts called “Program your mind for victory” by clicking on the audio link at: Program your mind for victory. It will help prepare your mind for success in 2010.

Checklist of Blueprint for Success in 2010

  • List the things you are grateful for
  • List your main accomplishments for 2009
  • List the failures of 2009, why it happened and what you did or would do to correct them
  • List the main projects you wish to accomplish in 2010
  • List the goals for each of these projects, the actions you’ll take to accomplish them and a timeline when they’ll be completed.

Start your “day” with a “To-Do” list.

  • Create 2 columns in the list – “Profitable Tasks” and “Maintenance” Tasks
  • List all the things you need to do that will build your online business, those that will increase the bottom-line.
  • List all the things you need to do in order to “maintain” your current online business eg article marketing, link building, SEO, customer support, etc.

By doing all the things on this checklist you’ll get a clear idea why you need to work hard at your business and a solid plan how to achieve success in 2010.

It’s up to you to make it happen!
I wish a very prosperous New Year!

Successful Business Goal Setting for 2010
8 Steps to Creating a Simple Business Plan for 2010

Leave a comment below on the No 1 goal you wish to accomplish for 2010