How To Choose Online Business Niche

Starting an Online Business: Choosing Your Niche
By Dawn Marchant

If you are considering starting your own business online then one of the first key decisions you will need to make is choosing your niche. The 3 big niches for successful internet-based businesses are health, making money and relationships. However it is really important to find a much narrower niche market for your business. Why? If you are seen as being a generalist rather than a specialist then you won't be regarded as an expert and therefore won't be able to charge higher prices. If you are not focused in terms of who you serve and what particular challenge you solve then it will also be more challenging to get your marketing right. It's really important to maximise sales that your message is really targeted so that potential customers feel that it really fits their needs and that you understand their dilemma because you speak (write) using their language.

When choosing your niche I strongly recommend that you don't just look for what might be profitable but also look for something that you are or could be truly passionate about. You are unlikely to stick with it and push through the inevitable challenges that come with trying to get a business off the ground if you are not really interested in and don't really believe in the product you are promoting. Even if you are determined enough to keep going then your lack of enthusiasm will show through in your sales pages, etc and therefore reduce the number of sales.

I suggest that you first come up with a short list of business niches based on your interests, your passions and your knowledge and experience. Think about who you would most like to work with as clients. Think about what kind of changes and goals would you like to help them achieve. Try imagining a typical day working with your ideal clients and see how that makes you feel. If it doesn't leave you feeling fulfilled, enthused and excited then you need to keep looking.

Once you have your short list of niches then you need to research them to see if they are likely to be profitable. A profitable niche will meet the following three criteria. It will solve a problem or challenge that a lot of people are eager to overcome. The challenge will be painful enough that people are willing to pay for a solution. Finally it must be easy to reach this group of people and get your offers and message in front of them.

By the way do you want more information about choosing your niche and start your own business online?

If so, sign up for my email series and download my brand new free eBook about what it takes to be successful online HERE.

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