If you had to start an online business from scratch today, what niche would you choose and why?

I would look for products to sell that are either 'evergreen' or in high demand seasonally year after year. I don't do trends or fads or 'the latest thing' - too much work to keep up with that stuff.



I would make up a business plan - research the competition, the products, the target market, etc. Do I want to sell what is 'out there' or create my own products?


Decisions....decisions....research and common sense. Then I would dig in and get it done...set up emails to build a list, etc etc etc.


The one thing I would NOT do is tell anyone else what niche I plan to start working in.

If I started today, I would use A.I. to do all my research
about niches and any other information that I required
and I would base my decisions on that.

That is what I'm doing now and I can say that this is the
ideal time to start making money online, everything is
wide open for anyone who is ready to do some work.

If you are just getting started, re-started, or wherever
you are at, don't sleep on A.I.

Something government entities purchase (schools, for example). They seem to be the only entity totally unaffected by the economy, good or bad.

Hi, Integrate AI in your daily tasks and have futuristic approach. This is the era of digital world, so try to be part of it and tech is the best niche IMO.
Cheers!

Always thing about what people want. Never think about what you want. What you want may not be what the market wants.

These big 3 always make money:

- Health
- Wealth
- Love

If you choose something in those three you are going to make money. How much you make will be determined on the amount of effort you are willing to put in. Put in the work and you will reap the rewards.

Lead generation has always been a great path to take

Evergreen niche and with less compition

Food niche is one of the best if you want to start it online or offline
currently im working on a food niche you can check this https://sanantoniospecial.com/

Note to MODS; I used AI to answer the OP, because we have so many Warriors being told to use it, now we see what it gives us as far as answers to these types of questions. If you feel this in violation of the rules, let me know and I will edit and modify my answer, respectfully gja

Bard:
As a large language model, I don't have the same needs and motivations as a human entrepreneur, so it's difficult to directly choose a niche for myself. However, I can offer some insights based on my capabilities and current trends:

1. Personalized Learning and Educational Resources: I excel at processing and generating information, tailoring it to individual needs. I could create a platform for personalized learning recommendations, adaptive educational content, or even AI-powered tutoring services. This niche aligns with my abilities and a growing demand for personalized education solutions.

2. AI-powered Creativity and Content Creation: I can generate different creative text formats, including poems, code, scripts, and musical pieces. I could be used to develop AI tools for writers, musicians, filmmakers, or other creative professionals, assisting with brainstorming, idea generation, or even drafting initial versions of their work. This niche leverages my creative potential and caters to the increasing demand for AI-powered creative tools.

3. Information Curation and Analysis: I can efficiently process and analyze vast amounts of information. I could be used to build tools for data visualization, research assistance, or trend analysis in various fields. This niche plays to my strength in information processing and addresses the need for efficient information management in today's data-driven world.

4. Language and Communication Tools: I can translate languages, write different kinds of creative content, and answer questions in an informative way. I could be used to develop language learning apps, translation services, or even AI-powered communication assistants. This niche utilizes my language capabilities and addresses the ever-growing need for effective communication tools.

Ultimately, the best niche for an online business depends on several factors like market demand, competition, and your own skills and interests. However, I believe that leveraging my unique capabilities in AI and information processing could be successful in any of the niches mentioned above.

Remember, the important thing is to choose a niche that you are passionate about and can dedicate yourself to. With hard work and dedication, you can build a successful online business in any field.

I hope this provides some helpful insights for your own online business journey!



Chatgpt: ChatGPT
Selecting a niche for an online business depends on various factors such as your interests, expertise, market demand, and competition. Here are a few potential niches and reasons why you might choose them:

E-learning and Online Courses:

Why: The demand for online education is consistently growing. If you have expertise in a particular subject or skill, creating and selling online courses can be lucrative. Platforms like Udemy, Teachable, or Coursera can help you reach a wide audience.
Health and Wellness Products:

Why: The health and wellness industry is booming, with a growing interest in fitness, nutrition, and mental well-being. You could sell products like supplements, fitness equipment, or wellness apps.
Sustainable and Eco-Friendly Products:

Why: With increasing environmental awareness, there is a growing market for eco-friendly and sustainable products. This could include reusable items, organic products, or eco-conscious lifestyle goods.
Niche Subscription Boxes:

Why: Subscription boxes cater to specific interests or needs. Whether it's gourmet snacks, fitness gear, or beauty products, people love curated experiences delivered to their doorsteps regularly.
Remote Work Tools and Services:

Why: As remote work becomes more prevalent, there is a demand for tools and services that facilitate productivity and connectivity. This could involve creating a platform, providing virtual assistance, or developing collaboration tools.
Tech Gadgets and Accessories:

Why: The tech industry is always evolving, and there is a constant demand for innovative gadgets and accessories. If you have a passion for technology, you could start a business selling or developing unique tech products.
Customized Handmade Goods:

Why: The appeal of handmade, unique items is on the rise. If you have crafting skills, you could create and sell customized products like jewelry, home decor, or clothing through platforms like Etsy.
Digital Marketing Services:

Why: With the increasing importance of online presence, businesses are constantly seeking digital marketing services. If you have skills in SEO, social media marketing, or content creation, you could offer services to businesses looking to enhance their online visibility.
When choosing a niche, consider your passion and knowledge in the area, as well as the market demand. Additionally, research your competition and target audience to ensure there's a viable market for your chosen niche.

This is the advice from AI, does it help you?

GordonJ

P.S. Why would anyone HAVE to start online? What gun is held to their head? If I were starting any business or money making venture today, I would not eliminate the trillions of dollars spent OFFLINE too. That being said, I believe I would start the same business I always wanted to start and did: PUBLISHING. The demand for information isn't shrinking and it covers all the markets and niches

Every single response here has an information product lurking within it. Online just went over 1 trillion last year, offline over 5 trillion.

it would always be affiliate marketing, you dont need staff, offices or even capital to start you are promoting multiple products called income streams, the think you should always be seeking is mentorship and training even more important than the product itself

I will always opt for email Copywriter which afford me to live the type of life i want.. crafting email sales letter for brands.

The main niches known to work are Health, Wealth and Relationships.

It would be difficult to choose because each of them have their strengths. But if I were to start again, I would most likely go for Health. Why? Because I have learnt over the years that all the money in the world would never buy you your health.

In a world eager for answers, Americans' growing tendency to spend resources searching for meaning reveals promising potential in the niche of astrology and mysticism.
This still largely unexplored field offers a unique opportunity for digital entrepreneurs to capitalize on the growing demand for cosmic guidance. Faced with profound dilemmas and uncertainty, people are willing to invest in horoscopes, tarot readings, and mystical practices to find personal answers.
By entering this terrain, we not only provide services, but also open doors to inner exploration and the discovery of deeper meanings. In a market eager for transcendental experiences, venturing into the mystical universe is not just a business opportunity, but a journey to unravel the mysteries of the cosmos and offer light amid the constant search for understanding.

I would start an online retailer for clothing.

Why? First, Amazon doesn't do clothing very well.

Second, there are no regulations like supplements, nor are there expiration dates.

I'd go for PM, because it's the one thing that can generate cash fairly quickly.

You might want to review forum rules a bit - A.I. generated/assisted content is not permitted as a post. thanks.

Top niche: Medical billing. Reasons: high demand, perfect fit for my skills (data analysis, language processing, automation), competitive edge (fewer errors, efficiency, patient focus), booming market.

Internet Marketing, How To Make Money Online, Join clickbank to get make money online offers to promote. Create a website on google blogger for free, watch youtube videos to learn more about affiliate marketing

Definitely information products that focus on any number of timeless issues people seek solutions to daily... and, will likely always be seeking solutions or relief from... well into the future.

My single most answer would be mindset and shifting away from the "make money online" guru influences... while, aligning people with "existing real-world" solutions.

I'm compelled to THINK - my niche is self-development - and, still question if I can provide enough value to serve the individual/audiences core interests?

I'm going to find out soon... as I know, the less people you SERVE - the less money you'll make!

Might as well focus on serving MORE PEOPLE... or keep living in limitation as 95% - 97% of people choose to do.

I would love to sell the used brand products because everyone wants to show branded items to everyone like they can afford these but deep down we all know these brands are hard to get in budget.

I won't be specific but I would choose a niche in the area that interests me. It takes a lot of time to create a project and it is convenient if you know something about it. And that you don't mind reading about the subject and broadening yourself more in the area. I believe that any niche can be profitable.

If I had to start from scratch......This is what I would do.

I would start in an online network marketing opportunity or a product that pays me money on multiple levels in the make money online niche.

Why? Because many people will get into this niche and start promoting the same product as me. I want to get paid from their efforts.

This thread is seriously helpful to me because I am considering a new, from scratch, online biz right now.

The challenge of a new biz, in a new niche, is having no brand.

Truth be told, not sure that building around my passion is actually the right thing - unless my passion happens to be the up-and-coming thing.

Instead, I've decided to look at my skill set.

Someone mentioned earlier that they had an interest in Self-Development.

That resonates very much with my thinking, as I devote much of my energy to it for myself.

As a confirmed autodidactic, self study is a huge part of my life, as are thinking about systems and processes. ("Autodidact" is a word I learned just a couple of months ago. Makes one sound pretty smart, don't you think? LOL)

Of course, egg-headed responses like this one will never work. I'm thinking I'll need a little more personality.

I invite opinions.


Dave

savidge4,
Excellent answer. Thank you.

My experience is very similar.

I've pretty much been a self-learner for my entire life.

Had parents who believed in books. (Growing up, actually had seven sets of encyclopedias in the house!)

It absolutely does make sense.

But what are you, like psychic or something? LOL

Since 1990 I've made my living writing AI software. (Taught my self to program in the late 70s and eventually got up the courage to start a business with it.)

We've had our ups and downs - reinvented ourselves 7 times - but the industry (horse racing) is in serious decline.

Hence, the idea for the self-learning site.

Yes, I've known people who are simply knowledge consumers. To some degree, I am that as well because I read a lot. I mean a LOT.

In your reply you mentioned "internalized."

I would call that "growth," and probably spend 50% of my self-time doing just that: developing self. Probably 30% of my time is career-related, which includes marketing as well as improving my coding. That leaves 20% for what I would call "trivia."

Still fleshing all of this out in my head.

The good thing is that I do have a small staff, so I don't have to do it all myself.

My biggest challenge is, as I said to begin with, brand. Not only do I not have one, but I have not yet figured out what the market looks like. A lot to do before I actually pull the trigger.

Thanks so much for the well-thought response.

Gordon,

Which comes first? The chicken or the egg?
Maybe a better way to ask is, "How do you know what your brand should be before you know who your customers are?

But, of course, you are right.

We decide who to try to attract and 6 months in that audience will likely be far different than the avatar we designed for originally. Logically, the brand decision could be way off.

That would force a re-brand.

Or perhaps a determination: Which do I want to keep? My current customers (and changed the brand) or start over, trying to change the message to get a different customer?

I'm inclined to think that once the brand is picked, and it has produced customers, the answer lies in the simple question: Is it working?

I'm not a touchy-feely guy.
I'm highly structured. Heck, I'm a long-time coder, right? LOL

So, I'm into systems & processes, with a side of efficiency.
Seriously, the way I make coffee drives my wife nuts because there is such a process to it. LOL

But I am big time into things such as [I]PRODUCTIVITY.,/I] and take it very seriously.

That includes things like having documented processes for building videos, writing books, or, for that matter, writing code.

That's a great question.
I'm into stuff like mind expansion, self-hypnosis, physical health (i.e. better workouts, diet, or sleep etc.).



What you've just pointed out is, in fact, the BIGGEST mistake I've made in my current business: I built what they NEEDED instead of what they WANTED! Sure, I learned that lesson, but it took me almost 3 decades of doing it wrong to understand it.

Looking to the future business, my tastes in CONSUMPTION will logically be reflected in the content and products I will want to produce! This is something I never really considered but the parallel to my issues in racing is irrefutable.

Thank you for that.

Oh, and in answer to your question, I prefer written material because I read very fast. But it takes too long to produce so I've always done videos. Well, a few books but nobody would ever confuse me with a real writer. (I'm more of an explainer.)

Beyond my own dreams, to be honest. It's like something tweaked about 5 years ago, then again right after Covid, then one more time last February.

The Feb-thing was physical and caused me to lose 58 pounds and get into the best shape I've been in since I was 30!

All of this is good advice.

Thank you.

Wow!
Quite a reply.
Actually hit some hot buttons in there.

That was actually the year I really got started.
I was a professional blackjack player - lasted about 18 months. (Stupid me, thought it would last forever. LOL)

When I couldn't play any more, I looked for something else to beat. Decided on racing and, with my new Apple II, assumed it would take me about 6 months. LOL

Actually took me 9 years to become a true, winning player. Along the way, I became a computer professional. (Mostly self-learned, but had one amazing teacher in the very beginning.)

Played horses professionally for a while. Worked damn hard in order to not work.

That's why I decided the business was a better idea.

All of this is pretty close. You're right - I am a highly structured person. As you said, I'm a programmer. Linear is pretty accurate.

I think I have a fear of the brand because I'm used to being known in my niche. Out in the rest of the world, nobody has heard of me.


Obviously, the end goal is to build a thriving business. Not sure I understand most of the rest of your answer, but it sounds like (loosely speaking) you think that I have a wrong idea about the very essence of "brand."

You're probably right.
I mean, I was in business for 18 years before I ever heard of "marketing." Sure, I ran ads and people bought. When the ads stopped working, I changed the ads.

Then, when the world went digital, there were no ads to run. We've been totally organic since 1998 or so. Gambling ads are not well-received.

In 2007 I discovered Dan Kennedy, and began to study marketing. My thought was (literally) "How long has this been going on?"

That was when I woke up and really got that I had a brand. And you're absolutely right: It was determined by the business rather than the other way around.

But at the core, was ME - and I've changed more than a little in 34 years.

Worse, I don't like my brand.
That is, I don't like how I am perceived in the marketplace.
But at least I am known.

Changing that, after all these years, is very difficult.

It just seems logical to be more careful as I begin a new business.

This last paragraph has me puzzled.
I simply do not understand your meaning.



I really appreciate your input - it makes me think.


Dave

Simple - he's saying " YOU do YOU" - do what suits YOU - do what fits YOU.

Two choices (probably more, but two will do):

1. Create a totally new brand not associated with your current brand

2. Make your new brand a turnaround, reinvention of your current brand...."I don't like who I WAS so this is who I am now'.

Pick one - and move ahead.

Well, it depends upon your interests to choose a niche. If I choose I will go for medical billing as have some knowledge plus a very demanding field with good income. Let me know if you need any help with that !!

You are taking advice too literally...what fits YOU is the direction you should take. If you are embarrassed by your current brand MAYBE you could turn it around and use the 'turnaround' as a marketing tool. Don't know how bad your rep is or whether it would work - but it's something to consider if your current brand has a broad presence online.


Or start over with a new brand if that suits YOU better. We can offer advice but you have to make the decisions.

I would choose a niche in the field of online sales of fashionable clothing and accessories. Fashion is always relevant, and with the growing interest in online shopping, creating a virtual store with unique collections and a convenient style selection system could attract the attention of fashion enthusiasts.

This thread has been very illuminating for me.
I thank all who offered advice.

It forced me to see things from a different perspective.

1) Our current business is in its 8th reinvention. Of course, I shall continue with this.
My expectation is that we can get back to a fair market share despite the fact that the heyday of the industry has passed.


2) This thread has caused me to rethink what the next niche looks like.
One of the learned replies offered that SELF-DEV is simply too broad a term; that the niche needed to be narrower.

This was worth its weight in gold to me!

So, I asked myself, "What do I do best within that arena?" The answer came back PRODUCTIVITY.

That's a very crowded space, but there are really only a handful of truly excellent works out there. I've integrated (and modified) most of them --- plus added a few that nobody has ever heard of --- to create my own systems & processes.

I truly believe that they could become the new standard.


Thanks again to everyone who offered advice.

Dave
PS: In case anyone thinks this will be followed closely by some new product or sales pitch, rest assured it won't.

Such a leap as this has to be at least a year away, if I ever actually pull the trigger.

Good question and many people fail at this. A lot of people chose a wrong approach and targeting the wrong niche in the beginning. When they see it's not profitable, a lot of people just give up.

It's obvious the niched should be not new, it should be already be proven by other people that it's profitable before you start digging and building in what niche.

If I would be newbie and just starting in IM world, I would chose to resell something or chose affiliate marketing. It's easiest method to start making money online. What you need to do is just offer some prodict or service, drive traffic and make commisions.

Take a look at popular forums like Warrior forum and other internet marketing forums whhere you can find a marketplace. Check the market and see what people selling, how many orders they getting, if its popular, if people commenting and viewing the offer. Check the pricing, check what exactly they are selling. Now go to fiverr or upwork and try to search for same services for cheaper price. I am sure you could find hundred of people from upwork who could do the job. For example if you see that people successfuly selling some sort of SEO related service, let's say Blog commenting for 10$ per 2 comments, now go to upwork and search for people who could do the same work for $6. Now you could resell the service for $9 and make easy $3 per customer. This is just an example how you could make easy money.

Good luck!

It will always depend on your knowledge. For example, in my case I'm trying on online gambling, which is a very saturated space. However, I've been working on that industry for over 10 years, so it's still a good option as I have very specific knowledge that can create unique content.

A good niche for starting an online business could be eco-friendly products. They're in demand, align with growing environmental concerns, and can attract a loyal customer base. Plus, it feels great to contribute positively to the planet. My advice: research your target market, ensure you're passionate about the cause, and find unique, quality products to stand out.