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How To Identify The Best Niche Market For Me?

By Edited Apr 11, 2016 1 2

The World Is Your Oyster

How To Find The Best Niche
Credit: http://commons.wikimedia.org/wiki/File:Whole_world_-_land_and_oceans.jpg

Many of us are holding a secret desire to start our own businesses and to free ourselves of the responsibility of working for our current employers.  We browse the blogs and social media networks that catch our eyes and discover story after story of successful entrepreneurs that have seemingly overnight started a business that turns over hundreds of thousands if not millions of dollars per annum.  We think to ourselves whilst reading these accounts that we are different from them and we may even get motivated to pro-actively think of a venture for us to start to free us from our employment shackles.

The Problem

Once we actually start thinking about what sort of business that we might actually start we are faced with a reality or rather the perceived reality that we are not unique and we are faced with some many different choices of what we can do and each of those that we explore seems to be saturated with competition.  So this article is written for these people to decide what niche to focus their attention on and give them the framework to get over the biggest hurdle in starting your own business –actually getting started.

Do Something That You Love

As mentioned above, we are looking to break the cycle of our nine to five commitments, and there is a reason we are doing this and it is very likely that we do not love what we do.  Why then would we choose to start a business in the same vain in the pursuit of money?  It makes no sense at all and we would be just setting ourselves up for failure.  You might think that there is nothing that you love that you can turn into a business but to those of you that say that, I would like to regale a story that I heard on a Podcast this morning whilst driving to work.  The topic of the podcast was generating passive income by Pat Flynn on the Smart Passive Income and he interviewed the creator of the Universe Today website which he has been able to create a six figure income simply talking about news associated with the space market and has even been featured by NASA a few times.  So the take home lesson is that it is indeed possible to create a business around what you love today more than ever as technological advancement is there to lend a helping hand. 

Let Others Tell You What Information or Services That They Want

Nowadays finding the topics and areas that people are literally crying out for information and help is very easy.  There are a number of tolls that will help you along the way.  These include the Google Adwords tool which is a free resource provided by Google which allows you to find out the search volumes for any particular word or phrase.  The way that you can use this is to simply enter in your area of interest and you can quickly see the amount of searches for this term.  You can then use this information to determine if you might be able to make money from this particular niche.  This tip does not just apply to online type businesses but can also be extended to brick and mortar businesses.

Final Thoughts

So if you have recently decided to go out there and start your own business whether it is full-time or as a supplement to your current job it is possible for you to find out a niche that revolves around something that you love.  Go on – try it, you will be surprised by the number of people with similar interests to you that are screaming out for your views and expertise.  The hardest part is simply getting started, but the internet has brought down the barriers to entry severely so we are really not left with any excuses.  So my challenge to you is to simply go out there, do your research and take action.  All of those successful people that you are reading about started in the same way.  Putting yourself out there is no guaranteed way to success or riches the only guarantee is that if you don't take action I can guarantee that nothing will happen.

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Nov 13, 2013 2:50am
Thank you for this article, i'm a new in this domain. it will be very helpful if you continu giving us other tips!
Nov 13, 2013 2:58am
Hi javacurieux,

Thanks for your comment. If there is anything else that you would like me write about let me know and I would be happy to try my best for you.

All the best
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