Picking a niche
Do not get stuck and be to emotional in business.
Reason for starting a business
Starting a business can have many reasons and it is very often to do with making money. That is if you want to simplify the reason to the core. If you go deeper you can say it’s because of the pleasure of making money, earning money and having financial freedom. But having only money as a motivation is rarely a good enough reason. Why is that?
Starting a business in the online environment often considers making content for a specific industry. Doing that in the beginning does not have to be a problem, the momentum is there, you are building towards something big and so on.. But the time until your business starts generating income can vary and sometimes lasts for years.
Producing content is not easy
Imagine making content for a year or two, or even more, within a niche where you do not have much of an interest. This is exactly why it is very welcome that you like the industry you are in. Having in mind you will be making content for a long period of time, this will make it easier for you.
You can choose a different strategy and rely on the paid traffic to generate leads, but again, everything is easier when you have a passion for the product or service you’re providing. Especially nowadays with the internet being so saturated that one needs to be both persistent and creative in order to get through all of that mess.
If you are having trouble with picking a niche for your business, use the steps below as a tool:
1. Think about your passions and your interests. If you are still having trouble, check the history of your browser to see what you search for the most. Where do you spend your time? What kind of channels do you follow?
2. Define problems you can solve. Find a problem that your customers have and think how you can provide solution. Check on relevant forums to see what people are struggling with.
3. Make sure to know your competition. How can you differentiate yourself? You must find a way to stand out from the crowd.
Keep in mind that there is no perfect way of choosing a niche. See what works best for you and what gives you the possibility to move forward. Do not get stuck and be to emotional in business. If your dream industry is not a good fit for you, try to change the niche. A move-on-reward is waiting.
Some extra tips from Neil Patel on how to choose your industry.