If you don’t choose the right niche for your online business, chances are you will fail. There are thousands of different niches you can choose from, but you need to verify that they have the potential to build a successful online business.
Many people will tell you that you should follow your passions. The reason for this is that if you are passionate about something, the more likely you will enjoy building your business online and continue to do so.
This makes sense, but it is not always the best advice. If you have a passion for a niche that not many other people are interested in, your chances of making money are slim. There could be a lot of interest in your exciting niche, but are you making money from it?
Two important questions
To determine if a niche is good for your online business, you need to ask two questions about it:
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Is there a demand?
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Is it possible to make money with the niche?
If you choose a niche that has very low demand, you will have a hard time from the start. So you need to check if your niche ideas are in demand. One of the easiest ways to 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 top keywords for your niche – what would people type into a search engine if they were looking for information about the niche?
Once you’ve identified these top keywords, use Google’s Keyword Planner to find out how many searches there are each month. You want there to be a few thousand searches for at least the top keywords. The higher the search volume, the better.
If there is a good search volume for your niche idea, then you should check to see if people are making money from it. Go to Google and use your main keywords to search. Are there ads for products and services on the first page of search results?
If you see a lot of ads, it is a good sign that people are making money from the niche. You can make another trial purchase using the OfferVault.com website to see what offers are available for your niche idea. If there are multiple offers, this is another good sign. There are other places you can check out too, like ClickBank.com.
Go where the money is
If your niche ideas aren’t in high demand or money-making opportunities, don’t despair. Just see 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 the boxes:
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Wealth creation: earning money, etc.
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Health and fitness: weight loss, etc.
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Personal development: personal improvement, relationships, etc.
The demand for these niches will likely never 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.