Very often when people are first considering an online business they ask for help in determining what their niche should be.
Perhaps that same question is on your mind?
You need to pick a ‘niche’ for your business, meaning a smaller group within the population with a particular interest, because you will be more successful targeting a specific community than you would be trying to sell to everyone.
Even knowing this, it is still sometimes difficult to know what you should specialize in, right?
Do these things to help you decide:
Your passions are things you really love, enjoy, or feel strongly about. These will tend to be the things that you naturally excel at. A hobby you enjoy is a passion. Topics that are frequently on your mind that you like thinking about or doing could be passions. Your passions are often the first key to the start of a really successful business. If you choose to work in an area or with a group you are passionate about you will naturally love your work.
Where does your natural talent lie? Are you great with ideas and able to motivate others? What is your preferred working style? Do you like to work alone from a home office, or do you do better one on one because of your amazing people skills? Evaluate your experience, your knowledge, skills, attitude, personality, and preferences. These are all part of your individual strengths.
This is important. If you know you are excellent with the written word, a self-starter, and intellectual but shy you are not going to be comfortable going door to door or giving presentations to market your services. You would, however, make an excellent author or online coach, teacher, or store owner.
Look at your particular strengths, skills, and passions to find combinations which work together so you can make a service or products that people will want, in a way that you can provide enjoyably. Do not try to fit yourself into delivering something that goes against your personality and strengths. You will resent this. It will not feel comfortable, and ultimately it will not work for you anyway.
Once you have an idea about your passions, strength and personality preferences and you have come up with a few subjects and areas you think would be a good fit for you, it is time to do some research. Investigate the potential for your ideas and possible service or products. Make sure there will be a market for the niche you are pondering. Are there magazines, trade organizations, websites, and facebook groups that cater to the people you would like to reach? If so, there is likely enough demand to make a profitable online business.
Consider the best way to market to this niche, the potential demand, what value you will uniquely offer, who your customer is going to be, how what you offer will stand out from the competition, and how best to reach this market.
They say you only need ‘1,000 true fans’ who want what you offer to make a nice living online. Once you have done this research you will have a good idea whether or not your niche will be big enough to get those 1,000 true fans.
Once you have selected your niche, take ACTION and begin your business (plant the seed). But, remember, like all things (with rare exceptions), your business will take time to grow and develop. It will take time to develop your offering and to establish yourself in the market. Consider and decide how quickly you need to implement your plans to achieve the outcome you desire.
Self-employment online often takes two years to get properly established, no matter how much money is spent on advertising. But with a good seed, lots of loving care and attention, and time to let it all grow… you will find yourself with a substantial harvest. A thriving and profitable business operated from home or anywhere you travel that you are totally passionate about!