A customer recently asked me if I had a list of profitable niches they could use.
The answer is No.
And I have no plans to create one either.
If I put together a list, it would be huge.
I’ve helped clients in hundreds of different markets, and have heard from customers in thousands of markets.
In addition, I’m not going to reveal all the markets clients have been wildly profitable in.
But here’s a starting point for someone who is trying to decide on their niche.
If there’s a problem people are willing to pay to solve, there are likely profitable businesses there.
You can choose a big market and then niche down.
Some of the big markets are make money, save money, relationships, health, and hobbies.
Each of these have hundreds of niches in them. For example, the first level under relationships would include dating, marriage, weddings, parenting, sex, etc.
As you niche down another level, you might help men stop their divorce or help professional women plan their perfect wedding.
And that’s just the beginning. It gets crazy when you think about all the hobby niches including anything from various types of music to specific video games and sports.
So how in the world do you choose?
Find the intersection of your interests, your expertise, and a hungry buying audience.
In other words, don’t choose a niche just because there is money there.
That’s flying blind. There are thousands of niches with money.
Instead, what have you been interested in for years and what do you have expertise in?
This could be something work related. Multiple clients have become consultants and coaches to their industry such as the chiropractor helping chiropractors, CPA helping CPAs, corporate manager helping other managers.
Or it could be a hobby type interest. Clients have been in tennis, golf, bodybuilding, learning languages, scrapbooking, and so on.
Many clients have been in different subsets of weight loss (such as paleo or vegan and other specific niche audiences). All of them had lost weight personally and had a passion for their method!
Make a list of interests and expertise you’ve developed both in your personal and professional life.
How could you potentially niche your idea further?
Which niches might put you in front of more affluent buyers?
Research your ideas.
Start with Google. Who is advertising on targeted keyword phrases? What are competitors selling?
What about Youtube? What type of content is popular there? Look through some of the top channels and pay attention to the most popular videos on their channels.
Amazon is another favorite of mine if you’re planning on doing courses or coaching. What are the bestselling books? What are people saying about those books…both good and bad…in the reviews?
Look at keyword searches. How do they compare to the other markets you’re considering? Is this a topic that’s consistently popular or growing (not declining). You can answer that question by comparing keyword phrases at Google Trends.
After you investigate the markets, consider what ‘big idea’ you could come up with that would separate you from what’s already available in the market.
Is there a gap you can fill?
Do you have a story you can tell in the market? This is an often-forgotten element in choosing a niche, but an emotional story that relates to your experience or how you found a breakthrough solution is powerful. Your story can draw attention and separate you from the competition.
Magnetic Mentoring goes deeper into choosing a profitable niche that’s right for you.
Over the past two decades I’ve helped many clients:
- Identify their unique skill combinations (this strategy sets you apart from even your toughest competitors)
- Match them to affluent buying audiences
- Package up their expertise into irresistible offers
- Attract high value clients
- And create automated systems to keep the leads and profits consistently pouring in
Magnetic Mentoring shows you the proven formula to experience the Ultimate Freedom lifestyle as you turn your passion into a lucrative, rewarding, and fun online business.
