How To Find Niche Markets For Your Website is a three part series that leads you through the steps of generating and evaluating niche ideas for your website. In the first part of the series I will go over some of the fundamental considerations that you must understand. In the second part of the series I will help you brainstorm niche ideas. Finally, the third part of the series will show you how to evaluate your niche ideas and determine whether you can succeed in the market.
Finding a profitable niche for your online business is the most strategic decision you will make for your new venture. All of your other decisions (website design, hosting, traffic generation, monetization approach) pale in comparison. If you choose a market that has low demand, your site will never get traffic because no one is interested in your niche. On the other hand, if you choose a market with strong demand, but intense competition, you risk being hard to find or irrelevant. Lastly, if you choose a market that has the benefits of strong interest and weak competition, but no income potential – then you will have a highly visited website that doesn’t make any money. [Read more…]