There is an old saying that goes: if you fail to plan, you are planning to fail. While this is true for many different aspects of life, it is definitely true for online marketing. If you want to make money online, you absolutely need to pick the right niche. If not, you will not only be wasting your time and money, you will also be planting seeds of disappointment and crushing emotional defeat. Losing money and time are bearable since, hey, we can all earn it back. However, putting all your emotional eggs in one faulty basket is quite another matter entirely. This is why you need to make sure you plan out your online business properly. As you will quickly learn, businesses often fail or succeed based on their planning. Even without the site being built or the first customer making a sale, the likelihood of an online business’ success has already been laid. It all boils down to the right niche. Follow these tips to help you choose a niche. When considering niches, ask yourself the following questions.
Choose a niche that fits
Am I passionate about this niche?
Too many people pick a niche solely based on the commercial value of the niche. While commercial value ensures that you aren’t wasting your time on a low-value niche and that your efforts produce a decent return, you still, at the end of the day, have to love what you are doing. Make sure you pick a niche that you are passionate about. Why does passion matter? Well, passion dictates the amount of raw work you will put into something. Also, your passion levels impact the amount of fine tuning you will do when something goes wrong. Finally, passion determines if you throw your hands up at the first sign of challenges and difficulties or, out of love, you keep chugging forward. That’s how powerful passion is. All successful people are powered by passion. Choose a niche you can be passionate about.
Am I willing to learn?
If you think about it hard enough, successful businesses often start out as problematic companies that had to solve a key problem, or else they don’t make money. The most successful companies are those that came up with the best solutions. Think about your online business as a giant puzzle you need to solve. And it isn’t just one puzzle-it will be a series of puzzles locked within one large puzzle. You have to choose a niche that triggers your problem solving instincts. If you don’t feel that you are pushed to solve problems, you might be in the wrong niche.
Be sure that your first desire is to help people because that is what it is all about – people. If you are committed to them, you’ll be successful sooner or later. If you just provide “crap” (whatever that means in your niche) you do not just hurt your reputation but also your long term success.