Starting Out Online
If you are looking to start your own business online or make money online, you need to know what it is you want to be offering your customers or clients before you start. Are you going to offer a wide variety or are you going to zone in and offer a specific thing?
So whether you are looking at getting into bogging, affiliate marketing, online stores, informational websites or any other online business you will often hear about choosing your niche.
Now, don’t get me wrong many people work across many niches, but when starting out is a better idea to choose one and concentrate on that until it is providing you with an income before moving into another niche. This also allows you to learn and make mistakes in just one area or sector of your business.
Then when or if you decide to start a second online business you will know exactly what NOT to do and setting up this second online income stream will be easier, less frustrating and have you earning your second income more quickly.
What is a Niche?
A niche is a subject or topic that your business will become based around. Some of the most popular niches are diet and weight loss, making money, exercise and niches rising in popularity are homesteading, CBD and hemp products.
So, you may choose a niche that you are already knowledgable in or you may decide to choose something completely new to you and learn as you go. The choice is completely yours.
Now once you have chosen a niche it is also important to decide if you want to cover in broad or narrow terms. This means are you going to just cover the niche in general or are you going to narrow it down to a specific area within that niche and specialize in that.
Take for instance “camping” as a niche. Are you going to go broad and cover every aspect of camping or are you going to narrow it right to “camping in canvas tents”, “hammock camping” or “off-grid camping”. See when you start to narrow down your niche to specifics you are going to attract, mainly, only an audience interested in that type of camping to your online business. An audience who are interested in that specific style and who are interested in what you have to say or you are going to be offering. An audience who possibly already have that as an interest and are going to be ready to part with their money on your offers or promotions.
Types of Niches
Now it is also important to understand that there are a few types of niches and this is also something you need to consider when choosing your niche. If you are looking for supplementary income then seasonal or fad niches can work but if you are looking to make a steady income an evergreen niche would likely be your first choice. You can always branch into fun seasonal and fad niches at a later time when your income is more steady.
There is many seasonal niches, meaning niches that will be more popular depending on the time of year or seasons. Like the example used above, camping would be a seasonal niche. Now there are people who camp all year but, for the majority this a seasonal thing. So while this may gain lots of interest and make money during say late spring to early autumn it will probably not provide you with a consistent income.
Another type of niche is a fad niche. This is when something has become popular or is fashionable for a short-lived period. This can often be items such as kids toys or the latest fashion accessory. Similarly to the seasonal niche, this will not provide a steady year-round income. Although these may be great “fun” niches and have the possibility to make a good income from if you get in quick, this will only be short-lived income.
Now, these are the steady, year-round income providing niches that most online business people like to work within. These are the niches that no matter what time of year is, and because people are always interested in or need, never go out of fashion. The people who come and use or who are attracted to your business may change, but there will always be a good audience for you to provide for.
Before you even start an online business of any kind it is important that you know exactly what it is you want to offer your audience and this is for the following reasons.
> It is easier to come up with a business plan, set goals and discover the best ideas to help you reach your desired outcome.
> It provides you with a clear idea of what you need to be doing and offering your customers. It is all too easy to go off track if you are unclear of what it is you want to offer and can result in lots of unnecessary work for you.
> You want to make it clear to anyone visiting your business, online store, website or blog what it is you offer. This ensures you are attracting the right kind of people.
Define Your Niche Early for Success
So choosing your niche early on is a vital part of having success quickly in an online business.
Now it doesn’t matter if you want to blog, vlog (video blog), teach or educate people on your chosen subject matter. By becoming an affiliate partner of companies who sell items related to your chosen subject is a good way for those starting out in their online business to make money.
You have no products of your own to stock, no touching or playing middle man you simply get a commission every time someone buys through YOUR affiliate link.
Another way to earn online income is to create something of your own to sell, within a niche, to your audience or customers, although this is a little more difficult and time-consuming at first, you are in control.
This is often done by people who are already experienced in online business or who have a target audience already that they can promote their own product too.
I hope this helps give a little more understanding of niches and where to start in your online venture. I do suggest that you take your time in choosing and give it plenty of thought and research as once you have chosen your niche you can be pretty much committed! Getting your online business up and running is time-consuming and a big commitment as it may take a few months before you start to see the results you want. But, perseverance is key. Keep at it and you will get there.