How to Find Your Profitable Niche | 6 Simple Steps!

Do you want to earn money online? But not sure where to start or how to find your niche?

And do you think choosing a niche is that simple?

Let me explain the above questions and a few other questions which you might have. So choosing a specific niche is as important as your tangible assets because you see, niche plays a vital role in all types of business. if you are a blogger, YouTuber, designer, and even any other professionals which always need a great niche to survive their market.

 Initially, selecting your niche can make you uncomfortable, you might feel anxious and confused about what niche to choose.

However, 3 major factors help you to find a profitable niche:

Niche = Passion + Interest + Market 

Importance of finding your Niche 

 So once you start researching your interest and passion, you will have some clarity but what about the other one.

 Market?

While finding your niche, it is important to balance all the factors because when you leave one, you might succeed but it will take a long time to achieve your desired state.

So if you want to achieve your desired state in a short period ( like within 5 years), it is important to consider all the factors above.

So once you find your niche,  you always make sure to focus on one niche. If you focus on one niche eventually, you will become an expert in your work field. My mentor always quotes this

“ THE MAN CHASES TWO RABBITS CATCHES NONE ”.

But you can always change your niche at a later date nevertheless, it is important to pick one and move forward to start with it. (Don’t overthink and waste your time).

Strategies to Find your Niche:

When you are researching your niche, it is essential to look back at your childhood inclination. What were you interested in at that time as a kid?  when your parents or relative ( aka the World ) demand was not on your shoulder.

Dig deep into your memories and write out whatever comes to your mind, you don’t have to ask someone what niche to choose. It is already there in your subconscious mind, you just have to connect with the invisible force which can give the suitable niche.

When you are researching or working on a specific thing, you definitely will get the outcome sooner or later.

“ The more you dig, the better your results will be. ”

Books to read if you want to find your niche:

• IKIGAI
• Mastery
• The art of work
  

So let’s discuss in detail,  how you can find your profitable niche with these 7 simple steps:

Identify your Passions and Interests: 

The first essential thing is to evaluate yourself by figuring out your interest and don’t just be like “ you are kind of interested “ because it will not make you sustain for a long run and starting a business or any other profession is not easy when you are not sure of your niche.

If you are working in an area where you don’t care about, then you are odd of quitting will be increasing. Mainly as a first-time business owner.

So this doesn’t mean that you should find a perfect niche. If you more passionate about something professional then why not try something which can make you feel good to run a business. If you don’t care about the topic then you might not be able to find the drive in your business.

Here are some questions that will make you discover your interests and passions:

• What do you read the most? Or what newsletter or magazine have you subscribed to?
• Do you have any experience in an organization or club?
• List out how do you spend your leisure time with? Any interesting thing which you forward to do but you don’t have the time?

Figure out the Market in Your Niche:

 While having a great passion and interest in a niche, it is also mandatory to check out the market space for you are business. If you think only the first two factors in enough for you to sustain then you might fall into a financial trap.

Because people don’t consume every stuff around them, they only buy a product if there is a necessity. So you can’t force anyone to buy your product or service because you have an interest and passion.

Keyword research:

After identifying you are interest and passion, you can do keyword research from these tools to find out how big is your market space.

• Google Auto Suggest
• Google Trends
• YouTube Channel/view count
• Quora
• Medium
• Blogging channels
• Facebook and Google ads

 So when you’re doing keyword research, make sure to add these 3 plugins which can help you to be more specific about your niche.

• Search volume should be between 1k to 10k per month.
• It is better to go with low competition.
• Your bid should be higher if you want a higher level of commercial intensity to buy.

Research about your Competitor:

This is to determine how big is your niche is profitable and to know how you have the scope to build your business in your niche but don’t follow and copy your competitor. It may actually make your business slow down and eventually, you will not sustain as your competitors.

Create your own ideas and work on how to improve them to give your customer the best quality to rank at the top.

Determine the Profitability in your Niche: 

So now that, you have great clarity on your niche and how you’re going to get into it. Finally, you should analyze how you can earn money from your business and maybe list out each and everything that will improve and make your product quality.

At that time, you will get more creative ideas on how to improve the standard of your business. It is important to have an idea of how much money you will have the possibility of making money in your niche.

Test your Idea:

Finally, now you are armed with all the information you need to start your business. But the only part is left to be done before you are online, is to test your idea ( Niche ). This is to track out the real-time sales in your niche and it can be in a limited quantity to test the product to your audience.

So, you can make a pre-sales landing page with many websites but I personally recommend these site:

• Unbounce
• Instapage
• Leadpages

These are the best landing page I have ever seen because they have a great integration process and other fantastic features.

Final Thoughts:

Once you have determined the niche then you are good to go and this 6-step might not work for some because I have seen few people don’t work on their plan consistently. Nowadays, people are so short temper where they try something for a month or two then exit because there is no improvement in the business.

However, if you want to achieve your desired state then you should believe in yourself and work until you reach your highs.

Just don’t waste your time waiting for a perfect niche to come. You have to analyze and take a set forward to acquire your destiny.

Check out my top article: Revealing the Unknown Secret of Marketing!