What is a Niche?
According to Wikipedia, a niche is “a special place within the scheme of things.”
Niche marketing is defined as “the process of finding and serving small (but potentially profitable) market segments and designing custom-made products or services for them.”
So it’s all about finding your special place, and the products and services that fit.
Right from the start, you should understand that your goal in discovering a niche is to concentrate all your ideas and thoughts into the most precise, concise, and focused concept possible.
Your audience is everyone in the world with computer access and an interest in your website’s topic. Your information resources are everything known about that topic.
Therefore, you want to be sure to have enough information to eventually fill hundreds of pages, and you want to narrow your focus enough that you can be perceived as an expert, as “THE place to go” for information, products, and/or services.
I want to add right now that if your only interest is making money online, this is a very difficult area to build a website around these days.
That niche was 'hot' ten years ago. Most successful internet entrepreneurs in that area say they would not attempt breaking into that niche if they were starting out today. There’s just too much competition, there are way too many experts already.
Breaking into a niche market using keywords like 'make money at home'. 'work at home', 'home business' is going to be super hard.
There are billions of niches out there; find yours.
How to find your niche
Step 1: Identify your interests and passions
Let’s say you’re interested in art.
You can narrow your focus by choosing an art medium, period in history, particular artist, subject (still lifes, dogs, clothing, hairstyles, architecture, etc.), events, geographical location, and/or the life and inspiration of one or more artists.
Your aim should be to choose as few of these focal points as possible, so that the end result is extremely well-defined subject matter.
Step 2: Identify problems you can solve
Next, you need to look at what problems or questions people have regarding your chosen niche.
Try asking questions to your target market to find out their concerns or issues. You could also search for your niche on Quora to see what questions people are asking.
Step 3: Research your niche
Now it's time to find out how frequently people are searching for this information, what keywords they are entering in the search engines, and how many sites are currently available with that information.
Look online to see if other businesses are covering the same topic as you. If they are, it's usually a good thing - it means that people are looking for those answers and the companies are able to monetise their business.
Eventually you will come up with your concept, customer problems and your keywords. Now you can begin creating your domain name and meta tags for your website.
As a entrepreneur, doing your research in full at the beginning of starting a business is crucial to your success. It’s the hardest part, and at the time, you may feel like it's the least rewarding. But - once it’s done, you’ve got the foundation of your entire business.