By the end of this post, you’ll be well on your way, but first let’s start at the beginning…
You hear all about picking a niche and how it can make the difference between profitability and just plain debt. There are entire courses on picking the right niche and what the hot niches are, some even tell you which ones to avoid.
But more times than not, the niche you pick can be profitable, you just have to know how to make it profitable.
Base it on Past History
For starters, if your niche falls into any of these areas, you are looking at a niche with profitable characteristics:
16.)Become A Nurse
17.)Bird Training/Train Your Bird to Talk
18.)Boating & Sailing
21.)Camping and Hiking
40.)Get Your Ex Back
51.)How To Be Confident
52.)How To Budget
53.)How to Get Rid of Panic Attacks
54.)How to Learn French
55.)How to Learn German
56.)How to Learn Guitar
57.)How to Learn Italian
58.)How to Learn Spanish
59.)How to Play the Piano
60.)How to Play the Violin
66.)Invest In Gold
70.)Learn The Guitar
71.)Learn To Dance
72.)Learn To Sing
74.)Low Fat Recipes
88.)Obsessive Compulsive Disorder
107.)Self-Sustainability (solar power/wind-power/water filtration)
Pretty inclusive list, right?
I think you’ll find with any one of these niches that the common thread running through each one of them is solving problems.
Solve a Problem, Build a Business
When was the last time you searched Google for an answer to something that was on your mind?
My guess is anywhere from a few minutes ago to a few hours ago.
Answers are what we all want. Everyone wants an answer to their problem or concern or issue. Even kids want answers.
Let me tell you a true story about the power of good answers – our television went out a while back. Now, it wasn’t a new TV by any means – it was about 6 years old. But, since we knew nothing about repairing a television, we did what any other non-repair person would do – we called a tv repair company. Well, after talking with 2 of them, and hearing the service charge just for a visit, we decided to look to good ‘ol Google, to see what they had to say.
Ultimately, we did have a little help from our dear television as it did have a button illuminated with the word “light” on it. Ah, must mean the lightbulb right?
Anyway, we Googled “replace TV lightbulb” and found a video on Youtube showing exactly how to take out the old bulb and put in the new one.
In a matter of about 2 hours, we had a fully functioning TV.
But that’s just a simple problem with a simple solution. The point is that we looked for an answer to our problem and found it.
Where the Problems are, Therein Lies a Solution
What if the problem had been “I want to learn to play the guitar.”
Playing guitar is certainly a niche – it’s a problem with a solution. And it’s a problem where the solutions can be offered many times over.
Where would people search for an answer to the problem of learning to play guitar?
One place might be Google. Maybe they would type in “learn to play guitar” or “I want to play guitar.”
But in thinking about creating a product to offer solutions, where else would people go with this problem?
What about forums? Forums are goldmines for discussions/problems/IDEAS. If you wanted to play guitar, you would go where other musicians gather and learn from them.
From a marketing standpoint, forums help you in deciding what to create to make customers want your product so bad, they hit the buy button and maybe even buy 2!
Listen and Learn
Back to the problem of learning to play guitar…
Hanging out in some forums for any length of time allows you to accomplish a few things.
First, you hear their pain and frustration. This is essential for writing the copy to sell your product or service. Why is this bothering them and how can your product solve it?
Second, you get product ideas. Maybe they are not actually struggling with learning to play guitar, it’s wanting to start recording their music or wanting to play a new song in 30 minutes.
Third, you find experts. Just because you do not have experience in a certain field does not mean you can’t succeed with it. If you are a thinker and come up with great ideas, finding an expert to help you put the product together is all you need. Form a partnership.
The listening and learning part of product creation is the part that most people forget.
Before you get too caught up in your own great idea, go to the blogs and forums to find out if this really is a problem that people will pay for a solution to.
They say that things move at lightning speed online. While this may be the case sometimes, it’s not been true for me for quite a while. From actual product creation to copywriting to graphics, each task takes time.
But one thing that does not take time is discovering a problem to solve.
They are in every nook and cranny of the Internet. All it takes is some mind shift, where you go from thinking about your next great idea to becoming you customer and thinking like your customer.
Picture them… Are they male or female? Young or old? How much money do they make? Are they in pain? What is their motivation? What are they looking for? AND, How can you solve their problems?
Once you actually become your customer, product creation is nothing more than putting the pedal to the metal, so to speak.