How To Pick A Niche Market From What You Know
When building an internet business, a lot of people make the mistake of developing their site first, and then trying to find a market for it. Of course, the process should be reversed.
Here's how to find your niche market. It can sound very common sense but really, how many people actually understand 'common sense'? (Smile)
Your Personal Preference
1 - What Are Your Hobbies?
You’ve heard it many times— Internet entrepreneurs finally became rich pursuing what they like doing online. Well, these are not stories. As unbelievable as it sounds, many people strike gold online while setting up their sites for the purpose “expanding” their hobby.
Think of it this way-- If the niche is the topic of your hobby, you’ll feel excited and happy to build your business around it. This way, it’ll support, encourage and lead you to learn more about your niche. Be as SPECIFIC AS POSSIBLE. If it’s fresh water fishing, write down “fresh water fishing”, NOT “fishing”.
(Example: freshwater fishing, collecting stamps, playing basketball, reading love
novels, playing with your pet and so on. Hobbies are normally described as what you
do to pass time and you enjoy doing it.)
2 - What Are You Passionate About?
- Meditating in Tibet.
- Teaching young children to become obedient.
- Mountain climbing.
- Sports cars.
What’s your passion?
Just like pursuing your hobby, you’ll feel excited and happy to build your business around your passion, right? Follow your passion and it’ll give you the momentum you need for the ‘burning’ desire.
3 - What Subject Do You Consider Yourself To Be An Expert In?
Most people don’t consider themselves to be experts of anything because what they know seem to be common to them. Obviously. It’s common for them because they are the EXPERTS of that topic.
When you are an expert, you’ll have more knowledge on the niche market and be much more able to create/find content. Don’t worry about being an expert. You see, it does not mean that you need to be a real ‘expert’ or guru. Examples of when you can consider yourself as an expert easily-Being able to explain about sharks, being able to repair the kitchen sink, being knowledgeable about certain sports like football, being able to make a baby stop crying, knowing how to plan a party, etc.
You would be surprise there are people out there willing to pay you to know what you know. Let me throw in some ideas to keep your brain thinking…
Let’s say you’re an expert about scuba diving.
Can you see yourself owning a site full of scuba diving content and blogging about your knowledge and experience?
If your answer is “yes”, I rest my case. Do me a favor-- do not underestimate yourself because you’re doing a disfavor for yourself. Your knowledge can worth a lot of money if they are focused on a particular niche market.
The Five Reasons For Doing The Exercises Above Are:
1. You will be able to create content with your current knowledge or skill
2. You will be able to become an expert by answering questions related to that niche market, especially when you run a forum of your own
3. You will have a better chance of competing with the competitors because you are prepared with knowledge of the niche market
4. You won’t get frustrated when you are not making money instantly or achieving your goal that you have set because the online business will be part of your hobby
5. You feel more confident about building a business that you like or have certain knowledge of.
More to follow soon !
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