A subscriber recently sent in a question…
“I would like to start an online business but I’m really stuck on what market/niche I should start with.”
This is a common concern.
Most beginners aren’t sure where to get started.
But here’s where it gets even more interesting. I’ve coached a lot of experienced online marketers who ask a similar question.
Obviously, they’re not asking where to get started. But they are asking where to go next…
Most of us continue to think about what we want to be when we grow up!
If you’re starting completely from scratch without any ideas of where you want to do, the first thing I’d do is brainstorm markets you might be interested in.
What are you hobbies? What professional experience do you have? What groups are you a part of?
Once you’ve made a list of a few ideas, ask yourself these 4 questions…
#1: What are people buying?
You obviously don’t want to go into a market that’s in decline where everyone looks for free information, and nobody is buying.
Check Amazon. Look at relevant bestseller categories and see what the popular sellers are.
Look at the pay-per-click ads in Google and Bing. Don’t worry about the organic listings. Companies advertising on PPC need to get a return on their investment. Who is continually advertising?
Check the Clickbank marketplace and other affiliate networks such as Commission Junction to see what affiliates are selling.
#2: Can you help a customer get results?
This is a key aspect many gurus don’t like to talk about. You can’t just follow the money.
You also have to be able to deliver the goods.
Do you have personal experience in the subject?
Have you achieved results for yourself or for others?
Do you have a story to tell about the challenges you faced and how you overcame them?
It’s tough to get started if you don’t have something of value to share.
#3: Can you reach customers affordably?
Look in the Google Keyword Planner to see how popular keyword phrases are in the market. What estimates does Google give you for costs? You can usually do better than this, but it gives you a starting point.
Pretend you’re creating an ad on Facebook and look for interests you can advertise with.
Check Youtube to see how many views top videos in your market are getting. As you view these videos, what ads do you see at the beginning of the videos, in banners, or alongside them in the listings?
#4: Will you be able to ‘sell more’ to these same customers?
The money is rarely in the first sale to a customer. That just pays for your advertising or your time. The money is earned in the 2nd, 3rd, and additional ongoing sales to those customers.
Do you see membership sites in the market?
Can you offer higher ticket products and services to this audience?
Are there affiliate programs you can promote for additional profits?
These 4 questions give you simple guidance to help you find a market you can profit with.
I’ve now made a living online for over 21 years.
And I’ve helped thousands of others just like you set-up their own Internet Lifestyle businesses.
Imagine having control of your time…and the financial freedom to make real choices in life.
This could be the pathway for you: www.internetlifestylesystem.com