Day 1: Research: Niche
Looking at Interests
The first and most important thing in finding a great niche for your business is to research. You want to spend an hour or two, or more if you need to. Researching your interests, passions, and hobbies is very crucial.
You can take a pen or paper or start with Google docs and list all your interests and passions. It may be 5,10, 15 anything.
List all that comes to your mind without thinking much about it at this stage. We are going to niche down a bit later.
Once you made the list, put each hobby into a Passion(p) and Knowledge.(k)
We all have different interests and hobbies but we are passionate about some interests and knowledgable in few of them. so now distinguish each hobby into passion, knowledge, or both.
I am passionate about:
- Reiki: (P) + (K)
- Affiliate Marketing: (p) + (k)
- Reading: (x)
- Music: (p)
so it’s always better to choose a subject in which you have passion and also have a basic knowledge about it.
Also, you want to cross out on which you don’t want to make a website.
So this way you can narrow down your interests.
Micro Niches vs Broad Niches
In this researching phase, you also keep in mind that niches can be divided into micro-niches and broad niches.
Typically speaking broad niches are evergreen niches but have a lot of competition. Micro niches are easy to rank and have less competition compare to broad niches.
Sports is a very popular niche but it’s a huge niche and you need to further niche down it. It will be very difficult to rank a website around the keyword Sports.
You can narrow down it by looking at different sports that are popular. Sports accessories can be a niche and if you further niche down it can be Football Snack Helmet. In fact, WA Live WAbinar Coach Jay has made a very successful website on this niche. You can check out his website for more inputs on how you can make a micro-niche.
Scoping out Trends
The next step is researching Google Trends and see if the niche is viable in terms of popularity.
Google Trends is very helpful since it shows the data over the years, so you can find out if people are searching for a particular topic over the years, or it’s the latest trend or if it’s a seasonal trend.
All this information is very helpful while starting your own business. You can also choose to research worldwide, or in a particular country if you want to go down the lane of a local website.
Knowledge vs Passion Niches
As we have already categorized our hobbies into Passion and knowledge niches, it’s always better to choose a hobby in which you have a passion as well as a bit of knowledge.
It’s not necessary that you are an expert in a particular subject to start building your business around it. In the process, you will get a lot of information and knowledge about your niche only if you have a passion for it.
If you have a passion for a subject, you will gain enough knowledge to write about it, give good information to your readers.
So always go for Passion over just expertise in any subject.
Choosing a niche seems to be a problem for many people but as you see it’s not that difficult and if you do a little research, the process is really easy.
On Day 1, we discussed how to research a niche with the help of Google Docs, Google Trends, and you can further research on Google too to see what’s popular in your niche.
We also discussed passion niches and knowledge niches and it’s totally up to you to choose anyone but it’s always better to find a niche in which you have both passions as well as a bit of knowledge.
Though it is not necessary that you should be an expert to start a niche, your knowledge and expertise expand as you continue to grow your website around the subject.
Watch Live Wabinar:
Replay of Day 1: Research: Niche
As I mentioned above, in Wealthy Affiliate you can learn how to start your own successful small business in a very cost-effective way. This article is a summary of the Day 1 Live WAbinar.
These Wabinars will definitely help all of us to understand the intricacies of starting and running a full-fledged our Own Successful Small Business.
Pricing: Get Premium @$19 Instead Of $49
To get access to these WAbinars you need to sign up for Premium membership & costs $49/mo.
You will get many benefits with this membership like free 10 websites + bandwidth of 500,000 visits, daily website backups, and so on. If you want to know in detail, click here.
But the best part is if you join WA within 7 days of joining, you will get Premium membership at just $19!
No brainer right, for $19- not only you will watch all these 14 Live Wabinars but have access to all the 500+ recorded WAbinars also and I know you would not like to miss it.
Best Strategy To Save Your Money
So the best strategy that I would recommend to save money is to join WA as a starter member now, see whether the platform suits you, and then join within 7 days to get a huge discount of $32. Basically, you will get the first month just for $19!
Start Your Own Successful Small Business For Free
The cherry on the top, Black Friday is around the corner and you can save almost 50% on your yearly membership. So not worry to pay monthly and run your business for just Under $2/day!
I am sure you see the great value WA provides to Start Your Own Successful Small Business. If you have any questions or suggestions pl let me know in the comments below and if you think this article is helpful, pl share it with your friends and family.