Finding a niche business idea isn’t that easy. After all, you’ve got millions of businesses out there. If you want to rank a website on Google, there’s plenty of competition. How are you going to stand out? Will you make it for the long haul?
Successful companies made it work for them by starting with their “why?”. Look at companies like Microsoft and Apple. They started with the concept of “Why?”. Bill Gates started with a vision that every home should have a computer, that was his “why?”. Steve Jobs had a similar vision for Apple. See Start with Why by Simon Sinek.
Finding A Niche Business Idea
I started looking for a niche business idea which would let me work around other jobs and build an online business. Initially I looked to eBay but later came round to the idea of an online business which could be automated and scaled. My ‘why’ was to learn about online business systems and find and share a strategy which could give me more freedom – both financially and in terms of time. My journey to finding a niche business idea has led me a business model known as affiliate marketing. You’ve probably heard of this already?
There’s various niches within affiliate marketing and if you’re already there, you’re probably looking for a niche which can be capitalised on in the Google rankings. This is where I started with affiliate marketing. I built various websites and attempted to rank them on Google for specific keywords. Some of them ranked and some didn’t. What I learned most about finding a niche business idea is that starting from your passion makes a huge difference. You can’t sustain a business you have no love for – not for the long term anyway. Start with your “why”!
Found Your “Why”? – Finding A Niche Business Idea
If you have an idea in mind, use that to decide how your idea will best serve others. The best idea in the world won’t make any difference to you or anyone else unless you can serve others and help them in some way. Having the intent to bring value to the marketplace, is a lot more purposeful and integral than simply going after the money. You’ll need to give value and serve for your business to thrive. It’s not enough to have a great idea, throw up a website and wait for it to ‘work’!
Starting with your “why”, your passion and purpose, you can delve into the various sub niches within your niche. It’s important to know what you want first, to avoid spreading yourself too thin. If you give away your purpose for the sake of trying to please everyone, you can easily find yourself burned out. Your values and integrity should be at the heart of your business idea.
Ask questions of yourself like:
- What are you most passionate about?
- How would you like to work ideally?
- How do you prefer to interact with others?
- What value can you bring to the market place?
Use the keyword planner to find keywords within your niche.
Finding A Niche Business Idea – The Keyword Planner
Google’s free keyword planner lets you find multiple keywords within your business niche. You can see what people are searching for, but it can also give you an idea about what niche to focus your business and website on.
Type your main keywords into the planner and you’ll see a bunch of keyword phrases which relate to your main keyword. For example, if your topic is affiliate marketing, type that keyword into the planner. By looking through the various keyword terms which come up, you’ll see how you can find sub niches within your niche which are much less competitive.
Finding A Niche Business Idea – Finding Products
The great thing about affiliate marketing is that you can pursue your passions and interests while promoting other people’s products and earning an income. Clickbank is one of the largest marketplaces for affiliate products on the internet. Amazon also offer a great affiliate program which anyone can join to promote products on the site. The products you choose can in some part determine how your online business goes. Ideally, choose products which fit your criteria for building a business in the first place.
There’s a huge benefit in using a pre-made business system. Not least of which is the ability to learn from other people who are already succeeding.
Digital affiliate products which are geared to your advantage, offer some of the best opportunities for starting and building a profitable online business from scratch:
- Digital products which pay you 40% commissions (Much higher than physical products pay)
- High ticket items from which you can earn $400+ per sale
- Up-sells – sell a ‘range’ of products for extra income rather than just a single item
- Subscription products let you earn ongoing commissions for each customer referred
As you can see, there’s a huge benefit in using a pre-existing product range like this one. This kind of product ‘suite’ allows you to leverage automated and scalable sales systems and use paid advertising to build your business much faster than relying on organic reach for an online business.
Finding a Niche Business Idea – Start An Online Business From Scratch
If you’re still not sure where to start with your business idea, start by learning some new skills. This online digital business platform is an education program designed for entrepreneurs to build an online business with no previous experience, regardless of age. Anyone can use technology to reach a global audience with digital products. With the right software and community of support, anyone can learn this. Access a free 7 day video series to get started and learn more.