How to Find a Niche

How to Find a Niche?

That is the million dollar question. However it is not that difficult. Finding a niche is fairly simple if you know what you are looking for and what you want to do.

A niche is simply a particular sub-market within a broad market. For example, I used in a previous post that the Android Smartphone is a sub-market within the broad market of Smartphones.

Finding a niche for you to profit from will take some work and research. Many will tell you to start off with something you are interested in like a hobby. Or something that you have extensive knowledge or skills in so that you can provide the information to others. In addition some will recommend jumping into the hottest trends and carving out a spot for yourself.

If you don’t know what you are doing this could be costly to your business. The hottest trends can help you find markets that you may already have an interest in or knowledge. A couple of good places to go to search the “Hottest” trends are  AOL Search Trends &  Google Hot Trends.. Both will give you an idea of what the most popular searches are and the hottest trends. This may give you some ideas on finding a niche.

Back to what interest you and what might be your hobby’s. If you are interested in growing roses maybe you can start a business teaching people how to grow the perfect rose. Then again if you have extensive knowledge in human resources you can start a consulting business and train people in HR best practices.

Anyhow to find a niche takes a little research and motivation. Whatever you are interested in make sure you are passionate about it and are willing to learn more and more. If not, then that niche will fizzle out and you will become bored with it. That is a recipe for failure. Not saying you will never fail because you will but if you are interested in something you are more inclined to start over than to give up.

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