Picking a Profitable Niche. As a retired person you have many experiences and interests that can serve you well in the world of Internet Marketing. Even without being a so-called “expert,” your years and insights far surpass the younger generation’s ability to lead an audience.
For many seniors, income is a heavy factor in their decision to get into online marketing, so you’ll want to focus on picking a profitable niche that combines personal satisfaction with income potential.
First things first.
Before you can start planning a single piece of content for your online business, you need to know who your target audience will be. In other words, what niche?
You may already have a niche in mind. Maybe you’re already working in this niche. If so, great! But if not, then please review this article carefully and follow the steps below in order to choose your ideal niche.
This is actually composed of two major steps:
1. Create a list of potential niches.
2. Research these niches to find out which ones are profitable.
Let’s start with that first step…
If you don’t already have some potential niches in mind, then your first step is to develop a list. Here’s how:
Here you think about your own hobbies and challenges. List everything you can think of, from losing weight to scuba diving to restoring cars to back pain (and absolutely everything in between). Think about:
And similar topics – list everything you can think of, and then move onto the next step…
Now look around to come up with other niche ideas. This includes:
Next…Use Keyword Tools.
Still another way to get ideas is by using a keyword tool like MarketSamurai.com or WordTracker.com, or your favourite tool **).
The idea here is to enter a partial search and see what sort of niche ideas come up.
Here are example partial searches:
** (If you take a look at SBI! as your online business builder, keyword brainstorming and research is included. Click here for more info...)
Now the next step…
The next step in picking a profitable niche is to research each niche (or at least those that interest you the most) to see if there is a big market and big demand.
Your task therefore is to brainstorm and then research markets. Look for smaller sub-markets (niches) that look profitable. For example, “dog training” is a big market, but something like Poodle training is a smaller niche that may be big enough and profitable enough. Check: does the smaller niche still garner a lot of keyword searches and product sales? If so, that’s a potential niche for you.
When picking a profitable niche you should select one that not only looks profitable, but also one that interests you (and ideally one that you know something about). Then hang onto all your research, because you’re going to need it later in your online journey.
Some of you may have life long careers that you can now put into action as an online entrepreneur. Whether you were a mechanic, a plumber, a lawyer, or a teacher – there are people willing to pay for the information you share.
Now you can create a career that allows you to share your expertise, and then cash in on recommendations based on your experiences. And don’t be afraid to get into a niche where you’re not an expert, too.
Many people love learning right alongside others, so you can start a blog and share your own journey of learning something new, letting your readers see your successes and setbacks – and they’ll still enjoy following your progress.
In fact, many people say it takes the pressure off of them and makes them feel more comfortable learning from a fellow newbie than from someone who talks over their heads and doesn’t seem to remember what it was like to be new.
Have you ever noticed how building an online business seems so fast and easy in TV commercials? "Build a website — it's easy!"
The good news is that it is indeed easier than ever for solopreneurs to put up a "stunning website." But many huge sitebuilders (Wix, Yola, Weebly, etc.) want you to believe that a site or blog is a business. False.
In fact, putting up a stunning design is the "easy part" — point-and-click easy! The hard parts are never mentioned in the commercials.
I recommend taking a look at Solo Build It!
When you have finished your first task of picking a profitable niche, the next step is to start to build your website and blog.