How to Select a Profitable Niche – Your Questions Answered

Hi, I’ve had quite a few questions recently headed my way from my clients, blog readers & email subscribers regarding niche selection and why it is so important.

So, I thought it would be great to share some of my experiences, tips & tricks I’ve picked up along the way, and how why it is so important to get this part of your online business strategy right.

Okay here it goes:

Today I’m going to talk about how to choose a profitable niche
and why it is so important.

I’m asked tons of questions every single day from my clients
& email subscribers about certain topics in regards to running
a successful online business.

But one of the questions I don’t get asked often enough, is how
to actually select a profitable niche.

Which is quite alarming really.

THIS IS STEP #1. You must be doing this step first before you
move any further with your online business.

The foundation of running a profitable online business is to actually
go out & find one first.

And if you’re looking at building a list of subscribers within your online
business then you need to know before you even begin, whether there
is lot’s of people already seeking out your information and are willing
to pay you to provide them with that information.

This of course is if you’re looking to build a list of subscribers, which I
always encourage my clients & subscribers to do within their online
business on an ongoing daily basis.

So why is niche selection so important?

1) You are setting yourself up for success – If you’re going to choose a
niche based on the fact that you’re interested in that niche, then this isn’t
going to guarantee you that this niche is going to be profitable for you.

2) If there is no interest, and there are NO BUYERS in the niche that
you’ve selected then you don’t have a BUSINESS!

3) Basically you’ll have a NON PROFIT organization on your hands.

4) You could CHOOSE a niche that does have BUYERS within that
niche, but the numbers are limited and therefore you cannot make
enough repeat sales so that your business can GROW and provide
many products and services that cater for peoples needs.

5) You need to find a niche where you can make REPEAT SALES.
Otherwise your profits will be limited as a natural cause of this
error in your niche selection process.

You must be able to maximum your profits for every lead or client
that comes into your marketing funnel.

Also, the market itself can actually tell YOU what it’s wants and demands
are.

All you need to do then is create those products and services around
those needs and desires and charge them for these services.

So for example, if you’re currently building a list of subscribers let me
ask you this:

“When was the last time YOU asked them what their needs & desires
were”?  (video up to 3:14 seconds on youtube)

So for example:

You can stually SCOPE or ask questions within your emails asking
your subscribers what they need or are having a challenge with at
that moment in time.

Some of them will reply and tell YOU exactly what they NEED.

Some won’t reply at all.

Either way, this gives you a fantastic laser targeted SCOPE for finding
out exactly what your clients wants and needs are right now.

This gives you a chance to create products and services to sell to your
clients that they actually are desperate to BUY from you.

So now, you’re not just simply guessing as to what your clients and
subscribers want by creating products or promoting affiliate products
that no one even wants to buy.

So this is why it is SO IMPORTANT to do your research first, look for
the signs, look for signals, that TELLS YOU that there’s lot’s of buyers
in your chosen niche.

This allows you to go ahead and start building your email list, start
working at your marketing and traffic plan and start building an online
business that has lot’s of potential for making repeat sales and lot’s
of profits.

This is turn allows you to start SCOPING your list already knowing that
you have a good chance that there will be 1 – 10 products that you can
create that can HELP your leads that you can create and make a profit
by selling them to your subscribers.

Now you’ve positioned your online list building business as one that
simply charges people by giving them EXACTLY what they want &
need.

This is so important if you want to build a scalable, repeatable &
profitable online business.

So…

…Do your research.

Make sure your niche has enough potential for adding a never
ending flow of BUYERS into it.

Make sure your niche can give you a chance to add REPEAT
buyers into your sales funnel.

Avoid choosing a niche that you would like to go into simply because
you have a particular interest that niche when there isn’t enough opportunity
to make consistent profits from that niche.

Hope these clear up a few issues that my clients and you may be having
when it comes to pin-pointing an exact niche that has lot’s of room for
profits and repeat buyers that you can build a targeted email list around
and build a HUGE & successful online business around.