Why Picking The Right Niche Will Either Make You Rich (Or Poor)
Before we start, you can pick up my brand new Niche Business Empire book worth $97 here:
Most people think that you only start making money on the internet when your site is set-up and when the traffic starts spilling in.
WRONG
Your fate as an internet business owner is signed, sealed and delivered the MOMENT you decide on a specific niche to enter. It’s the reason 95% or so of people just can’t make more than a few bucks online. They opted for the wrong internet niche to set-up in.
I’m not joking, but I’ve seen “gurus” promoting the following types of niches in the past. I’ll tell you why the poor people who set-up in these niches are not making anything more than pocket money within them:
- Halloween : It comes around once a year, plus it’s very difficult to monetize a Halloween site. Most people will buy costumes from their local toy shop, and the demand for this type of site is low. When you have a seasonal niche that is hard to monetize…you’re not going to make much money – now THAT’S scary!
- How To Rid Yourself Of Headlice (Home Made Remedies): I’ve nothing against people with headlice or any type of personal hygiene issues. Nevertheless, (and I don’t mean to be judgemental) it’s unlikely that someone who requires assistance removing ticks from their head is likely to spend an awful lot of money on your site. Again, the issue of how to monetize the site rears it’s ugly head. Even if you get traffic to the site, how will that traffic convert to revenue for you? It wont.
Now granted, these are two extreme examples – but there are thousands of other wishey washey niches that are out there with low to zero potential. Most of the time, I can just look at a niche and say yes or no in terms of whether it is worth my time and money to enter (mostly it’s NO).
Now, here’s another thing that you must write down that is KEY.
“Whether You Choose A Poor Niche Or A Rich Niche – You Will Need To Invest The Same Amount Of Marketing Effort To Get It Off The Ground…So Choose WISELY!”
It’s true – if you want to seriously make money from your internet marketing endeavours, you’ll need to spend a lot of time and energy marketing. Driving traffic. It’s NOT rocket science but it requires some effort on your part (or a marketing budget if you want someone else to do the work).
What Every Millionaire Niche Marketer Understands …
We know that choosing the correct niche is the KEY in making long term income online. Now, assuming you’ve been able to do that here are the most important factors in making sure your new business makes money hand over fist!
If you can do the following, you’ll be able to set-up as many successful online niche businesses as you desire. And that should be your ultimate plan – to have ten, fifteen POWER niches all pulling in four figure per month revenues for you. It will not happen overnight – but you CAN work at one new business per six to eight weeks (full time). That means within a year you could have multiple internet businesses all working for you…that brings both security and prosperity.
Let’s not get ahead of ourselves though! Here’s a summary of everything you’ll need to have in order to make this work for you
1. The Correct Mindset – This is KEY. You have to LOVE the internet, and being an internet business owner. You have to accept the challenges and the workload. You have to allow TIME to let your business work and not fold just because the first month or two aren’t doing as well as you want.
It’s a long term effort – if you don’t accept that then honestly, save yourself a lot of hassle and don’t get into this game. It’ll eat you alive. If you can live with that, and take a long term approach, this industry will reward you handsomely. If you don’t believe that, just ask some of the gurus who’ve been around for three years, five years or a decade or so. For them, it’s not about IF they make money, but HOW MUCH they make. But…patience is KEY.
2. Your Site Is Your Place Of Business – Make Sure It’s PERFECT!
Remember, your site is your shopfront when it comes to the internet. Unfortunately, many people just don’t GET it. They set up sites that are ugly, poor to navigate, have poor content (etc).
I’ll tell you frankly – I know my way around site set-up and it is NOT easy. The simple fact is that I now hire professionals to set-up my site because there’s no way even with my expertise I can set-up high performance sites. If you’re reading this as a newbie, you have 2 choices – first, invest months/years in time and a lot in design courses/tools to be able to design yourself a professional site – or outsource it and spend your time and energy on the more important part of marketing your site and getting business to it. In the offline world you wont see a business owner building his shopfront from scratch – yet online, so many newbies try and set-up their own sites and make a complete mess of it.
It’s the same thing regarding your site content – it MUST be top notch. These days you should have not only quality content but also multimedia videos that are informative. It’s time to write down something again…
“I’ll Say It Again- DON’T Skimp On Your Site – However It’s Built, Make Sure It’s Professional Looking, And Includes High Quality Content & Multimedia…If You’re A Newbie Get It Outsourced As You’re Unlikely To Be Able To Set-Up A Great Site Yourself”
3. Understand That Marketing & Traffic Generation Is What It’s All About – This Is Where You Need To Focus Your Time, Energy & Budget On
Pick a niche. Crucial. Set-up a professional site – essential. And the last piece of the puzzle? Market and drive traffic to it. If you can master these three things, you’ll make more money on the internet than you ever dared dream. You’ll be logging into you Paypal account and wonder where on earth it’s all coming from.
So, let’s look at the “marketing” aspect of your niche internet business empire.
a. There’s No One Size Fits All For Niche Marketing – There are more internet marketing techniques and systems than there are fat headed gurus trying to promote big ticket courses (I know that may seem improbable but it’s true).
You must understand, every different internet niche has it’s own business dynamic. It has different portals of traffic. And it requires a different approach to each. The fact is, unless you seek out expert help you’re just going to have to get your hands dirty and try different marketing approaches for each niche you set-up in.
For example, internet marketing giveaways are a fair source of traffic for the internet marketing niche (arguably now less effective thanks to the glut of giveaway scripts and thus crappy events…but still effective). However, this is a terrible way of trying to get business and leads for say a travel site. The giveaway just does not exist in the travel industry – and even if it did it would not work terribly well.
So, you need to research the marketing requirements very thoroughly for your chosen niches – or you’ll have spent a lot of time and money on something that you can’t even drive business to.
b. Marketing Is NOT Rocket Science – Even The Freshest Newbies Can Drive 100 To 200 Unique Site Visitors Per Day Once They Master The Marketing Basics
Internet business is largely a numbers game. Marketing for your internet business requires a basic understanding of how many hits (unique visitors) the different marketing methods can get for you.
Remember, to learn about the highest paying internet niches, and to learn how to set up a business for them pick up my free Niche Business Empire book.
