The very first thing to start an internet business is to choose a niche. The niche is the market that your internet business will be doing business with.
In order to choose a niche, I always suggest that you find a profitable niche first instead of going for something that you have interest or passion in.
The reason is simple, you are in the business to make money and your interest or passion may not be as profitable as you think. If your interest is a profitable market, great for you!
Try to go for the evergreen niches such as health, wealth and relationship. Having said that, these markets are huge and highly competitive as they are very profitable.
So, be a smart marketer and cut out a small slice out of these large profitable markets for yourself.
Here is a simple guideline on how you can do it.
1. Go To Where The Money Is
As mentioned earlier, go for these evergreen niches because there are always consumers who want to improve these areas of their lives.
These markets will never die. Instead of reinventing the wheel and choosing an unproven market or what you think is profitable, the trick is here is to carve a slice out of the pie and make it yours.
2. Selecting Your Slice
The next step is to focus on a specific niche and pick a specialty. That specialty should be a gap in the market.
This is where the money is made.
For example, if there is a lot of buzz about bitcoin investment but there is little education to educate the investors the need to have an ewallet to safeguard their bitcoins, then you can go into this specific niche and offer them a solution. Explain to them why there is a need for an ewallet and offer a ewallet solution.
Another example is overweight vegetarians. This could be another great slice out of the lose weight market.
The key is to find a gap in a large market where you can have something unique to offer to them and solve their potential problem.
Do not based on just your pure instincts. Please do your fair diligence to research and understand the market.
3. Build A Personal Brand or Company Brand Around It
Once you had selected, researched and determined the slice of the market that you want to target, the next step is to choose a few keywords.
Then, create a website and put 100% of your effort into content creation. Consistently produce valuable content based on your keywords.
This is to help you build your reputation and then attract visitors to your website.
You can also approach potential partners or authority sites to work with them too. Also, work on your social media presence so that you can also provide some social proof.
Carving a slice of a larger pie takes time, but the profit potential makes it all worth it. Find an aspect of a large and profitable market that’s under represented, and become the authority for that slice of the market.