How To Come Up With Great Web Niche Ideas
As stated in another post about bringing your online business idea into fruition with a niche market site, I differentiate the two terms. For me, a business idea is a product or service I’m trying to sell or generate traffic for. The niche provides the topic of my web site so I can write convincingly to generate money online through whatever means. Sometimes, the business product and the niche topic are the same but not always. However, they should be related enough to interest the site visitors into a monetized action for you. In layman’s term you might consider this is a bait and switch.
Now, how do you come up with profitable online business ideas? Remember, these are niche sites we’re building and truth be told, some might work out and some might not. Therefore, in order to generate a good monthly income, we need to have lots of sites. These business ideas are not the next big thing we’re talking about here. For the volume of sites we’re generating, these are products and services we’re repackaging in niche sites. For these sites, I want to have ultra low competition. To determine how to gauge niche site competition, read my previous post on How to Turn Great Ideas to Make Money Niche Sites.
When trying to come up with ideas for niche sites, I like things that are off the beaten track. Sure, there can be a ton of money made in stock market niches, weight loss niches, credit card niches, but those markets are highly competitive. I like to make money online now. You’d be surprised at how motivating that is. Furthermore, I figure that there is nothing that prevents me from expanding my niche sites later into bigger sites. It’s just as well to learn how to rank for niche sites now and gain authority and then have an easier time incorporating new products and ideas to the existing site. You would not believe how many newbies I have seen trying to conquer a niche like money making online when it’s one of the most highly competitive markets out there. In fact, I also shake my head at what I’m doing writing in a related internet business online niche. Insanity.
In any case, this is a case of do as I say and not as I do although the rest of my niche sites are very low competition and in fact, very boring. I love boring niches because well, no one can be bothered writing about them. I come up with these online business ideas while I’m reading the newspapers or just walking down the street. I’m actually not that observant but little things will pop out at me and I’ll jot the idea down to do research later. I have to state very clearly that I’m not working trends but you can do so if you wish as long as you’re at the beginning of the trend and know when to get out. Personally, I’d much prefer to build a site and forget about it and then come back to it every few months only for maintenance. Of course if you’re stuck for business ideas, there are programs that you can buy or online subscriptions that will provide you with niche ideas. However, let me just say that you’re not the only one that is buying them so you’ll have a lot of other people competing for the same niches.
Being an online business entrepreneur means having the knack for spotting a great online business opportunity and then running with it. As you gain more experience with running multiple Internet business sites, this skill will come. In the meantime, setting up niche sites is a relatively cheap thing to do and you will learn as you go along what works and doesn’t work. Coming up with online business ideas just takes practice and that’s the best tip I can give.