Beginners Guide: How to evaluate a niche before you put in all your time and money
Don't jump the gun, without the proper
research your efforts will be wasted. Before
you put in all your effort, money and valuable
time - you need to be sure that the niche your
choosing will be worth your efforts.
Here are a few guidelines to evaluate a niche:
- Personal Factor
You probably know this by now, but here it goes
anyway: Going in a niche without some knowledge
or personal interest will only make things harder.
Try to stick to niches closely relating to your
hobbies, skills or something you have always wanted
to learn. You can of course go into any niche, but I
always find it easier to market something I am
passionate about. When it comes to product creation
this will help you a lot!
- Long Term
World Cup 2010 is not a profitable niche,
if you are going to build a business around
a niche then choose something that will not
disappear for at least 5 years.
- Duplication
Probably the most obvious way to see if
there is potential in a niche is to spy on
other peoples success. Clickbank, E-Bay
and Amazon can always help you determine
the amount of sales the products are
getting, and what exactly your competitors
are offering.
- Scalable Business
Can you grow your business in this niche?
Making money and building a business are
2 separate things. If there is no real potential
or no way to scale up your business in that
niche- then you probably better of trying
something else.
- Searches (Demand)
Almost the most important part, you can
have the best product, website and service,
but without quality prospects(searches) you
will have no one land on your offer. Surely
there are other ways to market your niche
website, but without a organic flow of traffic
- your nothing.
You can use Google to get some ideas of keywords
and there are thousands of application and services
on the internet that can help you find low competition
keywords. Which brings us to the next factor:
- Competition
Competition is a good sign, it means that there
is a market. Finding relevant keywords with low
competition can be the easiest way to get your
articles and website ranked quickly, targeting these
long tail keywords will help you to rank better for
the more tougher keywords. Finding these low
competition keywords is the only you way to get
good traffic from Google.
- The answer, solution or information (Supply)
Often newbies find a product before even looking
at the market, I have done the same. Of course
all these steps would mean nothing without a
product, but so does a product without a market.
Offer a solution or answer to the demand, and
focus on adding value to someone and not taking
there money. I lived in house full of chefs, yup my
brother and parents are very skilled and passionate
chefs, and one thing they thought me about
marketing or in their case selling food - "It is always
easier to sell food you know is really good, a small taste is all
they need".
I hope these tips can help you to decide on and evaluate
niches before wasting all your time. Rather spend a little
more time before jumping right into a niche.
Warriors feel welcome to add some of the factors
you look at when getting into a new niche.
research your efforts will be wasted. Before
you put in all your effort, money and valuable
time - you need to be sure that the niche your
choosing will be worth your efforts.
Here are a few guidelines to evaluate a niche:
- Personal Factor
You probably know this by now, but here it goes
anyway: Going in a niche without some knowledge
or personal interest will only make things harder.
Try to stick to niches closely relating to your
hobbies, skills or something you have always wanted
to learn. You can of course go into any niche, but I
always find it easier to market something I am
passionate about. When it comes to product creation
this will help you a lot!
- Long Term
World Cup 2010 is not a profitable niche,
if you are going to build a business around
a niche then choose something that will not
disappear for at least 5 years.
- Duplication
Probably the most obvious way to see if
there is potential in a niche is to spy on
other peoples success. Clickbank, E-Bay
and Amazon can always help you determine
the amount of sales the products are
getting, and what exactly your competitors
are offering.
- Scalable Business
Can you grow your business in this niche?
Making money and building a business are
2 separate things. If there is no real potential
or no way to scale up your business in that
niche- then you probably better of trying
something else.
- Searches (Demand)
Almost the most important part, you can
have the best product, website and service,
but without quality prospects(searches) you
will have no one land on your offer. Surely
there are other ways to market your niche
website, but without a organic flow of traffic
- your nothing.
You can use Google to get some ideas of keywords
and there are thousands of application and services
on the internet that can help you find low competition
keywords. Which brings us to the next factor:
- Competition
Competition is a good sign, it means that there
is a market. Finding relevant keywords with low
competition can be the easiest way to get your
articles and website ranked quickly, targeting these
long tail keywords will help you to rank better for
the more tougher keywords. Finding these low
competition keywords is the only you way to get
good traffic from Google.
- The answer, solution or information (Supply)
Often newbies find a product before even looking
at the market, I have done the same. Of course
all these steps would mean nothing without a
product, but so does a product without a market.
Offer a solution or answer to the demand, and
focus on adding value to someone and not taking
there money. I lived in house full of chefs, yup my
brother and parents are very skilled and passionate
chefs, and one thing they thought me about
marketing or in their case selling food - "It is always
easier to sell food you know is really good, a small taste is all
they need".
I hope these tips can help you to decide on and evaluate
niches before wasting all your time. Rather spend a little
more time before jumping right into a niche.
Warriors feel welcome to add some of the factors
you look at when getting into a new niche.