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How To Pick The Right Niche For Your Online Business

Written by George Manty  · February 18, 2008

Target Niche

In the previous post in my getting started series we talked about the importance of knowing what you want. In this post we are going to discuss how to pick the right niche for your online business.

A while back I wrote about how to pick the right niche for your blog. The same process can be used to pick the right niche for your online business. Here is a quick outline of the steps you need to take (you can read all the details here):

1. Make A List Of Your Passions

2. Make A List Of Things You Do Well

3. Merge The First Two Lists

4. Choose Your Favorite 3-5 Niches

5. Determine The Traffic Potential

6. Determine The Money Making Potential

7. Make Sure You Have Time For The Niche

The Most Important Things To Remember When Choosing The Right Niche For Your Online Business

You should choose a niche in a target market that you CAN and WANT to spend a LONG time serving. While you can have online success by going from one niche to another and you can have online success by creating products in niches that you are not passionate about it is much easier to build a business by sticking with one niche market that you LOVE and catering to that target market. I am going to say that again , because it is SO important:


It is much easier to build a business by sticking with one niche market that you LOVE and catering to that target market.

To help target the right niche, you need to decide who your ideal customer is. You can do this by answering the following question:

Who will I enjoy serving?

Target your online business for a niche you would LOVE to serve (click here to read a previous post I wrote about the importance of choosing your customer first).

You want your online business to be enjoyable and easy. One of the best ways to do that is stick with a niche you are passionate about.

If you REALLY want to make big money online AND enjoy it, then do what you LOVE.


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Comments

9 Responses to “How To Pick The Right Niche For Your Online Business”

  1. Niche Marketing Guy on February 24th, 2008 3:00 pm

    Great list to follow – you might want to add ” or outsource effectively” to the part where you spend the rest of your life in the niche. Outsourcing is a good way to free your time, once the business is up and running well.

    Item 5, traffic potential, refers to keyword and tag research, which is a topic filled with errors and misteachings. Maybe you want to go deeper on that issue.

  2. George Manty on February 24th, 2008 10:47 pm

    Niche Marketing Guy,

    >you might want to add ” or outsource effectively” ...
    Excellent point – I will have to add that.

    I do plan on going into keyword research later in this series.

  3. Niche Annihilation Method on February 25th, 2008 9:10 am

    George,

    When people refer to traffic, they immediately think about search engines. While they are great source for traffic, there are also other means that any site owner can leverage.

    You’ve talked about advertising a bit. That and many many other options are not to be overlooked when determining traffic potential. But seems like the way to do this is not very widely discussed by fellow bloggers (compared to seo).

    For example, many people are successful with placing ads in email newsletter or publish their own. Others blog and build readership base from that. Forum, craiglist and many others are great source of traffic too.

  4. Flint on March 7th, 2008 6:21 am

    I absolutely agree with you… you have to be passionate about your niche and love to service your chosen market.

    It gives one a great sense of satisfaction, and the chances of making good money are high, as the market will compensate you in most cases.

    Flint

  5. Greg on May 5th, 2008 6:07 am

    Very well written. I like the way you gave short statements for every step. Niche marketing is just anther word for fulfilling your purpose online.
    Like you said, you have to love what you are doing. Wow, you even mentioned serving, that’s almost a forgotten concept.

    Greg

  6. What If You Can’t Find A Niche That You Are Passionate About? on July 14th, 2008 5:27 am

    [...] my previous posts on finding the right niche to market to I said that it is much easier to build a business by sticking with one niche market that you [...]

  7. TJ @ Smartblogtips on July 15th, 2008 10:05 pm

    Can you explain point 4 in greater detail… gathering what i like is one thing, but determine whether it can be a good niche…. its a bit hard..

    regards
    Thinkjayant @ Smartblogtips

  8. George Manty on July 17th, 2008 7:37 am

    TJ,

    The following is from my previous post (http://www.canimakebigmoneyonline.com/index.php/20070425-7-steps-to-choose-a-niche-for-your-blog/):

    Out of the list you compiled from step 3 (above), which ones are you MOST interested in blogging about? It doesn’t matter if other people write about it. It doesn’t matter if it’s extremley competitive. Just write down the top 3-5 things that YOU want to blog about. It’s okay if you are down to 1 niche at this point, but 3-5 would be better.

    NOTE: At this point you have at least one niche you could start writing about. However, if you want to make money from your blog, you need to do more research.

    From our example, let’s say that you would want to blog about the following three things from your merged list:

    1. Basketball
    2. Being a Good Parent
    3. Bird watching

    Does that help?

  9. Como fazer um blog on February 18th, 2009 10:07 am

    Hi,

    The 7 topic, is where everybody fails.
    Most of us, build up sites/blogs, and after a few months we abandom them out, just because we don`t see any incomme money.

    My last blog, it only take about 3 months to get me a $200 profit on affiliate subscritions every month. With a 20 post blog for average, its the 5th niche blog of mine and the process is allways the same … choose a good keyword domain, 20 post with related content, build some backlinck numbers … and after that its all profit … month after month.

    Cumps,





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