Online Business Niche Ideas
Entrepreneurs come in all ages and have an interest in working from home. The problem is they hit a brick wall before the business has even started. First of all, what subject to focus on? The very first stumbling block. It’s fine to think of an area of business you want to get involved in but how do you know if it’s profitable? Furthermore, many people cannot think of online business ideas to get them started. This short exercise is one of the most important factors when starting a new online business. Is the niche suitable for me? Would I enjoy building a business around this niche? Will this niche make me money? Noteworthy questions that need to be answered.
- It’s pointless choosing a niche that we have no interest in.
- There is no future in choosing a niche which cannot be developed.
- It’s a worthless exercise choosing a niche that cannot be monetised.
Choose the right niche that suits your passion or area of expertise…
not in areas where you can make the most money!
Let’s take the first point and find ways to find an online business niche idea that we have an interest in. To do this we can have a walk around WH Smiths, most towns have them. Make your way to the magazine section and you will find them covering a host of different subjects. Various magazines for the strangest of hobbies. Areas of interest for the minorities. But if someone has decided to go to the trouble of bringing out a magazine dedicated to this topic then you will know there must be money in that business. The publishers have already done their homework and it must have passed a series of green lights for the magazine to get the go ahead.
Think about topics that you could talk or write about for hours!
Inside these magazines you may also find online business niche ideas within niches, maybe these are topics worth considering providing you have a personal interest. You can do the same research in bookstores. Frank Williams has written about a topic in great detail there has to be interested attached to it otherwise the publishers would not accept it for print.
Research deep into topics often reveals hidden niches worth pursuing!
Going back to the magazine example. Let us suggest that we have a basic interest in beauty, this is a very broad topic and too wide to take on as a business niche. Digging deeper in the magazine will uncover pages dedicated to hair styling. This has always been of interest to you. So we have a niche worth pursuing so lets move onto the second step of the three.
Home Business Niche Ideas
The online business niche idea we have chosen (hair styling) needs to be a topic that can develop. You don’t want to build a business around a single product or service. You need to be able to introduce other services and products around this niche which will satisfy your clients and increase profit potential. The niche has to have room for expansion and development. Hair styling has this of course because there must be hundreds of different hair styles.
Product and service development means increase profit potential.
Lastly lets look at the most important factor of all. Can this business make money and sustain either a part-time or full-time income? So looking at the hair styling niche again just as an example. What could your online hair styling business offer your clients to make money? What services or products could you sell?
Just thinking out of the box you could offer a video series showing how women can style their own hair? Think of that for a moment. Wouldn’t that be a cost effective skill to master? Not having to book appointments at the local hairdressers and paying high prices…you could do this yourself by watching step-by-step video tutorials. It’s possible to offer a video course dedicated to ‘bride hair styling’ for example. For that reason we can introduce a new course. Maybe the ‘Top 10 Professional Hair Styles That Take Less Than 15-Minutes To Do’. How about ‘Hollywood Hair Styles in Minutes’…you get the idea? This is how we develop online business niche ideas as a result.
This is how we can find a niche and consequently develop it into multiple products or services. Therefore we can make more money. Furthermore, if you want even more hair styling ideas just Google ‘Hair Styling Courses’ and see what the results reveal. It will uncover courses on a lot of different hair styling niches? This is how we can research online business niche ideas.
Think out of the box and you may discover profitable
niches perfect for an online business.
Search for a topic that holds interest. An area where we have a basic skill. We could do a local hairdressing course, get a hair stylist to teach you in the comfort of your own home or you could teach yourself. These are valuable traits that can be passed onto potential customers. This is how business develops. Jane Stilton works for a recruitment agency and resign only to start up a recruitment agency business next week! This same scenario can be accomplished online. Anyone can providing you pick the right niche, develop your skills and knowledge and pass this experience onto others. This is how online business niche ideas are born and how you can start yours from some simple seed ideas.