Start Your Internet Business by Finding The Right Niche

So you're interested in starting your own internet business but aren't sure what type of business to start? This is a common question that many beginners want answered and the answer lies in the niche.

In this post, I will share with you 7 steps to finding the right niche for your new internet business. Step one involves analyzing yourself and figuring out what your strengths are; step two is about knowing who your target audience is; step three involves coming up with an idea or idea(s); step four is about researching other successful similar businesses online; which leads into steps 5-7 which are all about creating a plan, refining it, and executing on it.

STEP ONE: 

Analyze Yourself

1. What's your passion?

This is a question that many people don't like to answer because they think it's self-centered and egotistical. However, answering this question will allow you to get the basic needs out of the way. First of all, you should know why you are starting your own business. So why is it that you want to make money online?  If your answer can be narrowed down to only one or two specific reasons then you've done yourself a great favor because now you have a much clearer path in front of your.  You need to know what makes you tick inside as far as knowing what you are passionate about.  If you aren't sure yet, that's okay too.  This is the first step and it's all about you figuring out what YOU want. 

2. What are your hobbies?

Once you know why you want to make money online and what makes you tick inside, it's time to figure out how to make it happen for yourself.

When it comes to figuring out how to do so, you need to have as many interests as possible because this will help you get an idea of how you can turn some of that passion into profit online. For example, if you like working with computers then there are plenty of e-commerce businesses that require unique computer knowledge in order to run them properly. So if you have a passion for computers and an interest in making money online, then you would be well suited to start your own computer based e-commerce business.

If you aren't into computers, that's okay too. There are plenty of other hobbies that can be turned into great profitable businesses. For example, if you like writing blogs or have a knack for poetry or photography then you could launch a blog about your passions and monetize it with affiliate marketing. This is just one example of how hobbies can be converted into income online.

When it comes to hobbies that can be turned into work online, the possibilities – especially when it comes to blogging – are endless. 

3. Who are your friends?

If you don't know who your friends are, then you shouldn't be surprised if nobody else does either. If you have friends that are successful online and the products or services they offer speak to your passions, then it's probably a good place to start with your new internet business.  For example, I am best friends with the guy who runs a blog called Kaching Katie . He is a genius at monetizing blogs as an affiliate marketing expert and has made thousands of dollars in his personal blog. When I started my own blog in 2009 he pointed me in the direction of good resources so I could learn about doing the same thing for myself.

Conclusion:

Now that you know a few of the steps you can take to finding the right niche, it's time to explore some more ideas on how you can figure out what type of business is best suited for you. This will be covered in the next post called, " How To Find Your Niche " so stay tuned for more information!

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