If you don’t choose the right niche for your online business then it is very likely to fail. There are thousands of different niches that you can choose from but you need to check that they have the potential for you to build a successful online business around.
A lot of people will tell you that you need to follow your passions. The reason for this is that if you are passionate about something then you are more likely to enjoy developing your online business and keep going with it.
This makes sense but it is not always the best advice. If you are passionate about a niche that not many other people are interested in then your chances of making money are slim. There could be a lot of interest in your passionate niche but is money being made from it?
Two Important Questions
To determine whether a niche is a good one for your online business you need to ask two questions about it:
- Is there demand?
- Is it possible to make money from the niche?
If you choose a niche which has very low demand then you are going to struggle right from the start. So you need to check if your niche ideas have the necessary demand. One of the easiest ways that you can do this is to check the amount of search volume that exists for the niche.
You can use the free Google Keyword Planner to check demand. All you need is a free Google account. Think about the main keywords for your niche – what would people type into a search engine if they were looking for information about the niche?
Once you have identified these main keywords, use the Google Keyword Planner to tell you how many searches there are for it each month. You want there to be a few thousand searches at least for the main keywords. The higher the search volume the better.
If there is good search volume for your niche idea then you need to check if people are making money in it. Go to Google and use your main keywords to search. Are there ads for products and services on the first page of the search results?
If you see lots of ads then this is a good sign that people are making money from the niche. You can do another test buy using the OfferVault.com website to see what offers are available for your niche idea. If there are a number of offers then this is another good sign. There are other places you check as well such as ClickBank.com.
Go where the Money is
If your niche ideas do not have a lot of demand or money making opportunities then don’t despair. Just go where the money is! There are niches that are guaranteed to have the necessary demand and the opportunity to make money. Here are three evergreen niches that tick all of the boxes:
- Wealth creation – making money etc
- Health and fitness – weight loss etc
- Personal development – self improvement, relationships etc
The demand for these niches are never likely to change. People will always want to create more wealth, be healthier and improve themselves. These are very competitive but they are great niches to be in.