Today, we’re talking online monies. Aka how to find profitable niches that perfectly fit your business model.
See, there’s a lot of jazz and pizazz all over the Interwebs about online business models, getting started, and how to make money online.
And often, people get overwhelmed.
I know I did.
The first time I started building a money-making machine online was way back in 2013.
But, I had no idea what I was doing. I had no idea how to make money.
I just threw a lot of shit against the wall.
And trust me when I say, shit it was.
I’d write 3,000-word articles without a care in the world for SEO. Without any idea of a product to pitch my audience.
Articles that took me a whole “work” day to write.
Just words. Maybe a photo here and there.
And guess what? These articles never made me a damned cent.
Talk about a waste of time.
Maybe you’ve been in a similar position…
Wheels spinning. Putting effort into things, but not seen any results.
I know how that frustration feels. Because I’ve been there, too.
So, you start studying…
You see dozens of people making good money, and they’re all doing different shit.
One guy is drop shipping. One dude created a personal brand. The other guy has been blogging for years. That chick is creating YouTube videos.
– Read: How to Build a Personal Brand –
So on and so forth.
And there all successful.
Why? Because there are a million and one ways to skin a cat.
But all of these successful individuals have done one thing right. What’s that?
They found a profitable niche that was “perfectly” suited to their ideas, skills, and personality.
Here’s how they did it…
The Main, Massive Markets
If you break things down piece by piece, you’ll quickly start to see a pattern.
A pattern that anyone and everyone who is successful online follows.
Hell, in the “real world” success tends to follow this pattern, too. Although, things get a little blurry when we get away from the Interwebs.
Still, almost every single niche relates back to one of the three main, massive markets.
These markets are never, ever going to change. They’ll never go away.
If you understand these markets, you’ll always be able to sell.
What are they? That’s easy…
- Health
- Wealth
- Relationships
Basic, right? Almost too basic to be true.
But think about it…
Almost every single thing you buy comes back to one of these markets:
-> Sleep Supplement? Potential to improve health.
-> Clothes? Potential to improve your relationships with the opposite sex.
-> Organic food? Potential to improve your health.
-> New watch? Signal of wealth. Potential to attract the opposite sex.
-> Book about Copywriting? Potential to improve wealth.
-> Family vacation? Potential to improve relationships with loved ones.
You get the picture. Nearly every purchase someone makes relates to these main markets. But don’t take my word for it. Don’t just listen to some inane Internet hustler spouting nonsense.
Do this…
Go open your Amazon account right now.
Look at your past orders. Scroll through them
If you’re anything like me, you’ll have at least a dozen items order in the last week.
Errrr, I mean six months.
And every single one of them relates to these main, massive markets in one way or another.
Well, they could be purely entertainment, but for most things – you’ll find they fall into one of the three categories above.
Profitable Niches and Social Status
Now, we can even take things one step further. Every purchase we make. All of us.
You.
Me.
Internet Guru #2.
Mike Jones.
Kayne.
Kim.
Legit, all of them…
Can be traced back to social status.
All profitable niches relate to social status in one way or another.
When we buy things, we’re buying with social status on the mind. Especially online.
How?
Well, that’s damn simple, y’all:
- If you’re healthier, you have more social status.
- If you’re wealthier, you have more social status.
- By having great relationships, you have more social status.
Social status and social proof is part of being human. It’s part of being alive.
You might even think you’re different. That you can’t be “sold” this way. That these markets and social status are irrelevant to you.
And you’d be damn wrong.
You wouldn’t have signed up for this list if you weren’t interested in becoming wealthier through online business or improving relationships, often through travel.
Now, this may still seem a little vague…
But there’s one more item to look at here.
The “Walmart” Test
Getting back to the topic at hand.
Profitable niches on the interwebs.
At this point, we understand that every product we’re trying to sell online should correlate to one’s health, wealth, and/or relationships.
We know that products should offer indirect improvements to one’s social status.
That’s the real reason they’re buying them.
But, how do you find the perfect niches and products to sell? How do you become profitable? How do you compare and contrast certain ideas?
Again, there are a million and one ways to skin a cat, but here’s how I do it…
The “Walmart” Test
Whenever I’m looking at products to review, dropship, and simply sell, I put them through one simple test.
Can someone buy what I might be selling at Walmart?
If someone can go to Walmart and buy my product, then the niche is not something I want to tackle.
Others may disagree.
That’s fine.
But for beginner’s making money online, you don’t want to be in direct competition with Walmart. Or Target. Or any massive retailer with 1,000s of domestic and international locations.
If potential customers can simply run to Walmart or Target to get what they need, then they’re unlikely to get on your website and buy from you.
P.S.S: This stuff makes creating online businesses a whole hell of a lot easier. No hype.
Think about your potential customer’s thought process…
Why wait a few days or weeks for a product when you can buy it right down the road?
You can even take it a few steps further.
The harder it is to buy online, the easier it is to sell – for the little guys.
People like you and me trying to get our piece of the pie.
How to Find Perfect and Profitable Niches
This post was long, strong, and down to get the friction on.
Huh?
Well, long and strong for sure. That other jazz – not so much.
But, the gist of it is this…
Finding profitable niches comes down to three things:
– Finding a product that directly improves an individual’s health, wealth, and/or relationships.
– Understanding that people buy to improve their social status. Directly or indirectly.
– Competing in the right markets. People won’t buy from you if they can get the product at Walmart.
And that’s all he wrote, folks. Well, me.
At 1,300+ words, this thing is big. Grande as they say down south.
But I truly hope you got some value out of it. I hope the information helps to clarify things when selecting niches and marketing to your newfound audience.
Oh, and any questions, comments, or concerns…
Hit that comment section below and get in touch.
Even if you want to tell me I’m completely wrong here, feel free to holla back.
Until next time