Many people want to get into entrepreneurship. But for fear of failing or having the wrong idea, they don’t take the first step. However, they have good ideas and unfortunately also lack confidence. To reassure you, I will reveal in this article how to identify a profitable niche to develop your business. No more excuses!
First, what is a niche?
A niche is a bit a particular theme or subject in which you are going to try to develop an activity. You can grow your business in any niche, it all depends on how you do it. There are two main niche categories, one of which works better than the other.
In order to develop an activity, you will have to respond to a need, because if you sell something that nobody needs, you will not be able to sell … So already identify a need in your niche. Once this need has been identified, we will classify them into two categories.
- The “normal” need: Here, this is simply going to be a need in your niche. For example, in the photo, wanting to take a nice photo. This type of need is not not a basic need for the person, who will therefore be less able to buy your product;
- The “deep” need: Here, on the contrary, you are going to start from a deep need, an essential need for the person. For example, lose weight or become less shy. People are willing to spend a lot of money to find solutions to this kind of need. Prefer this category there.
How to choose your niche?
Analyze your skills
If you want to choose a niche, you’re going to have to have a minimum of knowledge on the subject. Do you have a diploma in a particular field? Perhaps leave on this point. Do you play sports? Are you passionate about nutrition? Etc. Try to choose a niche that you are passionate about!
If you still want to get into a niche in which you have little or no knowledge, this is possible. Just specify to your future customers or communities that you learn. You can even use the following argument: “I’m currently learning photography, if you want to learn with me and follow me in my evolution …”.
How to find these famous needs which are the key to the success of your activity? There are many different approaches to identifying them.
If you don’t know me, I teach people how to write an ebook effectively so that you don’t work for nothing and sell it. In order for an ebook to work, you must also create it around a need.
To find a need you can :
- Go to forums / topics and find the most asked questions. To do this, simply search for “forum [le nom de votre niche] “;
- look the most searched keywords on Google in your niche thanks to the Insight Yooda site;
- look what your competitors are doing, what types of needs they are dealing with and are even looking for improvements to integrate into your home.
How can you be sure you don’t choose a bad niche?
Some people will tell you that this market or this market is not exploitable, because there is too much competition. They will tell you that to be successful, you have to innovate, find what no one has thought of.
Well, don’t listen to these people! You will have two types of choices:
- Choose a market already present: Too much competition? No, there can never be too much competition. As long as people are in the market, it’s let the market work, that people are buying. Just avoid entering a market where only one or two companies dominate widely. For example, cameras (Canon, Nikon…);
- Try to innovate: Try to do like Steve Jobs and revolutionize the world. It is possible, he did. But how many people have failed in trying to create their own markets! A lot of people. So, personally, I advise you to choose an existing market and not to try to change the world. Start by earning a living of a small business and then, if you want, try to change the world. Don’t start with something too big, take it step by step.
Here, follow the advice in this article and you will find a profitable niche. No more excuses for not getting started! It is better to live with remorse than with regret. ?