Picking A Profitable Niche

In this How To Make Money Online in 2020 Picking A Profitable Niche Post I cover the following topics:

Overview

  • Traits of a Profitable Niche
  • How to Perform Niche Research
  • Broad or Micro Niche
  • How To Find Out What Your Niche Audience Is Looking For
  • Niche Customer Research
  • How To Turn What You Already Know Into A Profitable Business (Your Niche)

Watch The How To Make Money Online In 2020 – Picking A Profitable Niche Video Below

Traits of a Profitable Niche

  • The most profitable niches are health, wealth and relationships.
  • The best niches are passion niches (hobbies, need to solve a pain).
  • Repeat buyers and multiple products to market
  • Has businesses that are already offering products and services. 
  • Competition is a good thing – people are already spending $$ in the niche
  • Already has info products, services, physical products (doesn’t need to have all 3 but even better it does).

Niche Research

  • Amazon
  • Dummies
  • Magazines
  • Clickbank

What Is Your Goal?

  • Broad Niche, Nicheing it Down, Micro Niche (Men’s Health, Fitness Juicers)
  • Do you want to just make short term money or create a long term
    Business?
  • I prefer to pick a broad niche I can build a brand and expand to
    multiple traffic sources and create content on multiple platforms
  • I pick niches with lots of products and repeat buyers.

What Is Your Audience Looking For?

  • Step 1- Figure out what content to create to attract them to you.
  • Step 2- Find the communities you can be actively involved in to build your following.
  • Step 3- Note down everything you find for ideas for content, bonus packages
    for offers, products to create, freebies to create to build your list, etc.
  • Identify your audience, their problems/pains/frustrations
  • How can you help them?  What products/services can you offer?
  • FB Fan Pages, FB Groups, Forums, Google Search, Youtube Search
  • Google niche + forum   niche + blog niche + keywords (how to quilt)
  • Same for Youtube as above

Turn Your Knowledge Into $$ Business

  • Expert Secrets By Russell Brunson
  • Great book – talks about how to turn 
  • Knowledge that you already have into
  • A profitable business.  Helps you to 
  • Find your voice, get your message out
  • To the masses and inspire others.

Final Thoughts

  • Pick a niche you like the idea of. (Don’t overcomplicate it)
  • I pick niches with lots of products and repeat buyers.
  • If you struggle to pick one niche, pick 5 you like and write them down on
    separate pieces of paper. Put them in a hat and pick one.
  • If you still can’t decide, don’t beat yourself up.  You can start with one niche and add or switch to another down the road.  
  • It’s better to take action even if you are unsure.  Indecision is one of the main reasons people stay stuck. 
  • If you want to model after me, you can start with the Wealth niche – how to make money with an online business. 

You can watch my How To Make Money Online In 2020 – Picking A Profitable Niche video by clicking the link above.

This is part of the How To Make Money Online In 2020 series. To check out the other posts, click the links below.

How To Make Money Online In 2020 – Successful Vs Unsuccessful People

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