THIS WORKS! I KNOW.
1. Evaluate yourself: Write a list of your degrees, licenses, experiences, feats, what you are good at or experiences you have had. Also, your technical talents which will dictate which performances to focus on and which to rule out ahead of time.
2. Find The Market: Go to Clickbank, Go to CJ, Amazon to find products that sell to people you can relate with and you know alot about. You are supplying a demand. Never try to "invent" the demand, if you are creative, perhaps "invent" the supply.
For instance, if you lost 100 lbs in a month last year, you will be awesome at health & fitness because all you have to do is write out your story and you'll be good at coming up with cool headlines, for example "I lost 100 lbs while eating ribs & drinking beer!" -things come easy when you are telling the truth. (Perhaps they were organic ribs)
Dont try to go into a niche JUST because it is hot and has products with high gravity on clickbank for instance. If you dont know what the buyers of that niche are feeling, you will not be able to relate with them and trigger those emotions. You will fall on your ass hard.
However, it should be a big niche like the health & fitness example, one that has tons of products and is competitive. Competition is a great indicator that the niche is profitable and you wont waste your time with a flimsy niche that you cant build a list with, etc.
3. Evaluate the Market: Next, you might have narrowed down your focus which is good. Now you need to take into account the possibilities of traffic sources, If the forums in the niche allow sigs, if your competition gives it away for free, opportunities to advertise, your cousin's radio station, Your uncle's huge real estate database, etc.
The idea is, towards the end of your brainstorming, it's Health & fitness versus Real estate foreclosures versus Diabetes. This is because you had diabetes but kicked it, lost 100 lbs and was a pretty good real estate agent that knows stuff. (For example)
What if you aren't good at anything? Use your imagination. What about physical products? You might want to join an affiliate program that sells vacuum cleaners because you sold Kirby vacuum cleaners and you were trained by the sales team. Were you ever trained by a sales team at Macy's? Perhaps you will be good at selling jewelry on your website.
MOST IMPORTANT: But last but not least, you should be a buyer of what you are selling yourself, or at least be able to really put yourself in the shoes of the buyer. You should know what all of the keywords mean and the individual mindset of the buyers at the time they search certain keywords.
4. You choose your niche and you start to do stuff! Once you pick your ONE niche (Health & fitness was the winner! You will be great at the copy, your wife is a fitness trainer, your cousin's radio station will be great for this huge broad niche & there were things wrong with the real estate & things you were worried about.)
Buy a couple domain names that are ACTUAL keywords that get between 40,000 and 100,000 searches or keywords that are strong buyer keywords that people search for like "golf clubs for sale.net." People who search that term are obviously looking to buy. Who cares if google says it's only 8800 searches. Use your judgement. Thats a cool domain name. These are the domain names for your affiliate marketing efforts. If you plan on writing your own ebook or program, get domain names that are brandable like Loseweightfast.com or something.
5. Build your business. Build blogs for the exact keyword domains and build a sales page with killer copy for the brandable domain name.
If you build your own products, recruit affiliates for it and only work on that. Your job as a vendor is to make sure it converts, product has low refunds and your affiliates are happy. So you'll probably spend all your time building upsells, filming sales videos, etc.
(A product such as an ebook or Mp3 lessons is cool for a beginner. And you would then spend your time on the copy and recruiting affiliates.)
If you don't write and want to just build a list quickly, then get that exact keyword domain name, build a blog, add really cool articles and perhaps some gimmicky type things like quizzes and contests. Bullet point lists and make it really a fun site to be at. Make it something that you would go to your friends and show them and they would want to hang out there. Thats how good it should be.
If you follow these steps, you cant lose.
If you don't follow these steps, you'll probably end up with a domain name that either doesn't rank well or doesn't go viral because lack of branding. You'll probably also not know a lot about the niche and fail to sell it correctly.
To effectively sell you need to know what you are doing. Its pretty fricken easy if you know the niche and then take the time to find cool opportunities related to that niche.
I was assuming you are a noob and dont have start up costs, so this is the way to start from scratch. But if you do have a little to invest, you can pick your niche and then go straight into TRAFFIC. For instance, now that you are going to be a health & fitness guru you should start looking for youtube accounts that have a couple million views to buy. You should go on Flippa and buy a couple blogs that already get traffic in the fitness niche. Now you are building your list.
6. Maintain the business.. Keep coming up with cool stuff to give your list and just write them from the heart, tell them about what you were feeling day #1 when you decided to go on a diet. Then remember what you felt on week #2 and tell them about that in an email. Inspire them and they will love you. You can start to promote offers on clickbank but concentrate on multiple promotions towards one product so the owner is obligated to support your future launches.
If you have a very simple splash page with a strong incentive compelling them to opt in, then buy health & fitness solos (email blasts)
The blogs with the keyword domains are best on search engines so start doing search engine optimization for them. Use The Link Juicer! That works for this model.
Also, a quick note.. You can go into a niche you dont know about and then research it, but then it's all about the buyer. Make sure you learn all about the buyer. Sometimes you will get lucky and inherit a youtube account with 50 million views, so yeah.. in that case study up!
You can also do half ass things to make money like sell your blog for $100.00 as soon as you make it or sell 20 exact keyword domains for $400 for the package (Double your money)
All in all, the biggest secret you should take from this is your niche. Make sure it's a niche you know a lot about, you know the buyer and there is alot of them, and the niche is very very HUNGRY. It should be perfect for you.
Put everything into ACTION!
You sell things everyday and you probably don't even know it. Ill give you an example. Your kid rides his bike over someone's lawn and the neighbor shows up at your door. You tell them how well behaved your kid is and how he wont do it again. It took you 15 minutes and you probably worked really hard at it and maybe even raised your voice. What if you recorded yourself yelling at the neighbor? You might have sales copy or audio for a parenting sales video. (Don't record anyone without their permission!)
What about someone who says BS! You didn't lose 100 Lb's, thats impossible. Your a liar! And he says this in front of your boss, family and friends. You would tell him OFF for 20 minutes right? Have someone film you yelling and proving that you did lose that weight and sell your ebook with it.