Lesson #3 | How To Choose a Niche
In this lesson I'll show you how to choose a niche. This is something a lot of people seem to get stuck on in the beginning, but it doesn't have to be difficult I assure you.
By the end of this lesson you're going to see the unlimited potential in the online space and how easy it is to find an awesome niche to build your very first website around. In fact, once you get into this business you'll likely end up having more great ideas than you have time for!
What Is a Niche?
Technical Explanation: a niche is a market segment (group of people) sharing a set of characteristics within the marketplace. There are tons of ways to segment an audience including demographics, interests, behaviours and so on. A niche is also referred to as a target audience.
Relevant Explanation: a niche is just a group of people searching for something online. That's it!
You do NOT need to be some kind of marketing guru to choose a highly profitable niche and make money online. No way! Just know that a niche is just a group of people looking for somehting online. Looking to solve a problem, to buy something, to find information about something or all of the above.
Why You Need To Choose a Niche
You might be wondering why on earth you even need to choose a niche. Am I right?
The best internet marketers understand that in order to succeed they need to be specific and cater to the needs of a specific group of people- AKA a niche.
To put things into perspective, there are over 3 billion people using the internet every day around the globe and Trillions of dollars being spent each year by these people. You don't want (and good luck trying) to cater to all of them. That's not how it's done.
When people are searching for stuff online they want relevant information from a relevant website. Plain and simple.
Some Examples of Good Niche Ideas
To give you a real world example of the concept of niche marketing, let's have a look at the 'bamboo' niche. Why did I choose that? It just popped into my head! No reason.
The Bamboo niche in itself is MUCH too broad and if your website was about 'bamboo' in general you'd find it pretty hard to succeed. You need to drill down to discover more targeted niche ideas.
Here's a few quick ideas to show you what I mean:
- Bamboo Blinds
- Bamboo Flooring
- Bamboo Clothing
- Bamboo Bedding
- Bamboo Decking
- Bamboo Huts
- Bamboo Screening
- Bamboo Hammocks
- Bamboo Beer (yep- that one has me curious)
- Bamboo Vehicle accessories
- Bamboo iPhone cases
- Bamboo Bike Helmets
That list took me about 2 minutes to put together and I am not kidding when I say there are 1000's of great niche ideas in the bamboo niche alone.
Drilling Down Even Further
To illustrate this further let's take a look at more niche ideas within 'bamboo clothing':
- Bamboo nappies
- Bamboo pyjamas
- Bamboo infant clothing
- Bamboo clothing for woman
- Bamboo clothing for men
- Bamboo swimwear
- Bamboo formalwear
- Many more
As you can see, there are TONS of possibilities in just one broad idea alone.
There is money to be made in any one of those niches I have shown you above and some of them have almost no competition. Using the example above, you could choose the the 'bamboo clothing' niche and cover multiple topics in one website or you could drill down even further and create a website all about 'bamboo infant clothing' all on it's own.
It's entirely up to you but both ways have a lot of potential. The point is, there are billions of people searching for answers to their problems and ways to fulfil their product needs online every single day and this training will show you how to tap into that opportunity.
Choose a Niche You Are Interested In
Since ANY niche can create an income for you it is important to start out choosing somehting you are interested in or even better, something you are passionate about.
You are building a real business here which means it's going to take real work to put together. As such, you are 10x more likely to see results if you like what you are doing. It's a lot easier to write content your website and put the work in when you like what you are doing right.
There's absolutely NO reason at all to be stuck in a niche that you don't care about or aren't interested in!
If choose some niche you think is 'going to make lots of money' instead of being interested in it, you'll probably get bored and quit before seeing results. Also, you'll naturally know more and want to know more about something that interests you. This means you'll have more value to share with people, the only way to succeed online is to give people value.
You are helping people find the information they are looking for. In previous lessons I covered the importance of value and I will keep on re-enforcing this concept throughout. You are going to be in a MUCH better position to give people value when you are interested in what you are talking about.
The bottom line here is that it's not a good idea to choose a niche just because you think it's going to make you money. Especially if this is your first attempt at making money with a website.
What If You Don't Know What Interests You?
Don't stress, you're not alone! Some people aren't interested in a particular topic but love the process of internet marketing itself. In this case you would be interested in creating niche websites because you love internet marketing by itself, and that's fine!
I personally fit more into this category.
I love internet marketing and am very passionate about helping people succeed online. One of the main reasons for wanting to help people is because I spent years being burned by internet 'gurus' who did nothing but feed me BS about making money online.
Now that I've learnt what actually works, I love sharing that with folks! I also have websites in some of the most random niches you could think of making me money each month and some of those I'm not passionate about in themselves.
Think about the things you like and what you find exciting, then make a decision based on this.
The Nitty Gritty- How To Actually Choose Your Niche
There's many ways t0 go about this but I'll show you exactly what I do and what is proven to work.
What You Need
- Notepad (digital or paper)
- Some imagination
- Coffee and a quite space
Coming Up With Niche Ideas
For this exercise I recommend grabbing a coffee and getting into a place with no distractions. It's important for you to have a space that allows you to think and get a little creative!
The very first thing you should do is decide on a fairly broad topic you're interested in and write it down. If you already have a specific idea, that will work too.
Head over to Amazon.com and start drilling down into a smaller niche using some of the categories they've got listed. Amazon has tons of different categories to choose from and it can be a great way to come up with niche ideas.
Another useful resource is a website called Dmoz.org:
Just about every topic you could think of is listed here. Spend some time digging around to come up with some ideas you 'click' with.
The idea is to get used to the concept of starting with a broad idea, then drilling down into more targeted niche ideas. Don't worry about how much money can be made or if you think it is going to be profitable. Thinking like that is a BIG mistake and will not help you move forward. I know that might sound a bit counterintuitive but trust me on this.
Once you've come up with a few ideas there's a third way to drill down and come up with even more ideas using Google. Once you've worked out a topic you are interested in all you need to do is type it into the Google search bar and put any letter from 'a-z' before OR after the main phrase relating to your niche.
For example: Let's say you've decided you are interested in mountain hiking. Punch in the term "mountain hiking" into the search bar and then the letter "a" after it.
That didn't give us many decent ideas so we'll now move on to the letter "b":
That gave us a couple of good ideas to work with! By the time we get to the letter "e" we have uncovered several more ideas:
Hopefully, you are beginning to see that coming up with great niche ideas is not difficult and you do not need to be some kind of marketing guru. Using the example of "mountain hiking boots" we could plug that into Amazon to come up with even more ideas:
As you can see above, there are several different categories of mountain hiking boots and an absolute tons of products you could promote relating to this niche as well. Don't worry about the money part right now but just know that ANY product you see in Amazon (and just about about anywhere else online) is something you can promote and earn commissions on when you get to that stage.
Other than using these methods- get creative! Browse around the web, talk to people you know, figure out what interests you. You don't need to re-invent the wheel or do something no one has done, not at all!
Here's a video I used to help me find a niche that will help you visualise this process:
Simplifying The Research Process
If you want an easier way to do niche research then I recommend using a tool I personally use called Jaaxy. You do not need this starting out but it makes life a lot easier and can give you boatloads of ideas very quickly.
For example: By plugging the term "mountain hiking" into Jaaxy it will spit out hundreds of ideas for you to get started in as little as 5 seconds.
Jaaxy essentially simplifies the 'Google Search Tab' method I explained above. Again, it's not necessary but it's a great resource and you can access Jaaxy for free using this link. You'll get 30 free searches then it's $19 per month if you want to keep using it.
Should You Be Concerned About Competition?
No. Competition just means there's money to be made so it's actually a good thing.
That said, it is wise to start with a targeted niche as oppose to a very broad niche. Either way, competition does not mater right now. I am not exaggerating when I say that ANY niche can make you money so the best thing you can do is choose something you are interested in and follow the process.
If you're paranoid your niche might be crazy competitive and you don't wanna start until you know for sure, then you can always go through these lessons before deciding on your niche. I don't recommend procrastinating like this but if you want all the details before you start then that's the way to go.
There's no such thing as choosing the 'wrong niche' and you first niche is most likely not going to be your last so I highly recommend just choosing something and moving on to the next lesson.
You've learned what a niche is, the importance of choosing something you are interested in and how to go about finding niche ideas. You've also learned that ANY niche can make you money so you don't need to find the 'perfect niche' since it doesn't exist. You are now ready to choose your niche and move forward!
Choose a broad topic you are interested in and drill down using one or more of the methods above until you've found something you are happy with. Choose a niche in the next 30 minutes and move onto the next lesson!