How To Select The Right Online Business
How To Select The Right Online Business
I have advised thousands of people since 1993 (on and offline) and I have noticed that a beginner must try, an average, 5 different niches to finally find something good. 8 – 9 people out of 10 will fail with their first niche and that’s when they would quit the idea of owning a business. Some will move on to a second niche and succeed.
Out of those that fail; some will try a third niche and some would quit the business never to come back again… General rule; if you have motivated yourself to keep trying chances are you’ll succeed with your 5th niche.
Don’t try to find the perfect niche from your first shot
Having said all of that… So which niche should you chose? Any niche! Just do it right now. I have seen far too many people who would spend months and even years researching a niche to finally say: “Wow, this is not working”… (And this is what you MUST absolutely avoid doing!)
Do not overwork yourself to find a perfect niche with your first shot, build a perfect website/perfect newsletter/perfect video in order to launch a new project. Launch your project right now, at this very moment. You know what? Stop reading this and go pick any niche and unleash yourself right now.
Choose any niche; dog training, weight loss programs, headphones, cleansing pills, dating program, exercise machines, solar panels content and affiliate marketing- and start now!
Some tips that may help you when selecting your niche
1- Do basic keyword research to see if there is a demand for this niche.
2- Don’t pay attention to the competition. If there are many competitors, there is money to be made.
3- Create a basic site/landing page using WordPress or other platform you’re comfortable with.
4- Try to add “grabbers” to your site. The tool to grab a client such as… A phone number to order, E-mail, BUY NOW buttons, opt-in form – make it easy for your visitor to take some kind of response.
5- Work on getting traffic. you can take advantage of all kinds of social media, PPC, writing articles, SEO and other ways.
6- Track your work and website performance. Google Analytics is an amazing tool and it will help you see things you would otherwise never see/understand. If your bounce rate is over 80% – maybe your site is simply not relevant to your offer, Maybe your call to action is not strong enough, or Maybe your order form is too complicated and people leave the site in the middle of the transactions! Analyze and track.
7- A few weeks has passed by, you are creating new content, constantly testing but you do not get sales – MOVE ON. Take another niche. Do not waste your time trying to perfect your failing endeavor. If you do not make any sales at all or very few sales (while getting traffic) – it’s probably a dead niche.
In case you do not get at least 0.5% conversion during the whole month – the issue is most likely not in your website but in the offer/niche itself. Set it aside and pick a new niche, recycle and repeat. Do not spend more than a few weeks on an unprofitable niche, time is money. Repeat until you finally get to a niche that will make you money and promise you success.
There is a way of picking niches that I suggest to everyone I talk about the subject…
good niche is such niche that has a big profit margin and makes you happy
For example, if you love dogs – a dog training course might be a good product choice for you. First of all, since you genuinely like dogs and are interested in dog training – it will be a lot easier to work with this niche. You will enjoy researching, writing and selling with this niche. Finding the perfect balance between what you like and how to make money off it is really awesome in the short and long term.
My final word:
Try your best not to waste time planning every little detail. Take action right now, take any niche and get to work. If it fails within a few weeks – take on another niche. Try to test and track until you find what works. Don’t forget that “failed projects” are not a waste of time but rather experience and a good learning stumble.
Hope this was of a great help, for further assistance please feel free to write me using the comment box below- visit the home page to learn more on how to master the online world.