eps to find your niche.
1. Identify your interests and passions.
This may be something you’ve already done. But, if you haven’t, make a list of 10 topical interests and passion areas, immediately.
Business isn’t easy, and at some point it will test you. If you are working in an area that you don’t care about, your odds of quitting will greatly increase — especially as a first-time business owner.
This doesn’t mean that you need to find a perfect fit. If you are passionate about some aspect of running the business, you will stick with it. If you don’t care about the topic, you may not be able to find the drive within to persevere.
Here are a few prompts to help you determine what your interests and passions are:
How do you like to spend your free time? What do you look forward to doing when you aren’t doing it?
What magazines do you subscribe to? What topics do you like to learn about most?
What clubs or organizations do you belong to?
2. Identify problems you can solve.
With your list of 10 topics in hand, you’re ready to start narrowing down your options. To create a profitable business, you first need to find problems your target customers are experiencing, then determine whether you can actually solve them. Here are several things you can do to identify problems in specific niches:
Have one-on-one conversations or idea-extraction sessions with your target market. Make sure to find or create a framework for asking questions that helps you uncover pain points.
Peruse forums. Search Quora, or find forums related to your niche, then take a look at the discussions that are taking place. What questions are people asking? What problems do they have?
Research keywords. Explore different keyword combinations on Google Trends and Google AdWords’ keyword planner. This can help you uncover popular search terms related to pain points.
Related: 7 Steps to Defining Your Niche Market
3. Research your competition.
The presence of competition isn’t necessarily a bad thing. It may actually be showing you that you’ve found a profitable niche. But you do need to do a thorough analysis of competing sites. Create a new spreadsheet and start logging all of the competing sites you can find.