Everything on the internet relies on a niche. When an internet user is looking for or researching something they can ask a question and immediately search engines go to work looking for the best content to answer the question. Are you in the right niche to make money?
Table of Contents
- How to Find Your Niche
- Don’t Get Attached to One Niche
- The Question is Always, What Next?
- Listen to Your Audience
- Diversification
- Are You in the Right Niche to Make Money?
How to Find Your Niche
Most people worry about what niche they will work in.
It usually comes down to what is your area of knowledge.
For example, I started my online career writing about my investment experiences in how-to books. The first book I wrote was about building a property portfolio in the UK. Then about renovating properties.
The next book was about investing in monthly income dividend shares.
It wasn’t until 2008 and the credit crunch when I started writing about balanced investing using business, property, digital investments and commodities to grow wealth during the recession that my coaching business started and the niche developed.
One day a guy stopped me in the street with one of my books in his hand and asked me to coach him. He was in his 50s, and my niche became working with men who wanted to retire but didn’t have the money or knowledge to invest.
Zero to Millionaire – Building the Foundation was the first course created. It wasn’t perfect. It developed over years of teaching it to become what it is today. A very successful base on which to build wealth.
It was the book readers who set the niche that helped my business to grow.
Don’t Get Attached to One Niche
As the business grew, clients started asking me about the books I wrote and how they could do the same.
Desktop Publisher – Write, Publish and Market Your Own Book became the next niche I ventured into.
It started as a one-day seminar. Grew to 2 days and then 3 days. Finally, I developed a 12 month coaching program that resulted in many clients writing and self-publishing their books.
Today, it is a comprehensive, self-learn course.
Again, my clients determined what they wanted and I created the courses for them.
Don’t get attached to one niche. If you listen to your audience, potential clients and existing clients, they will let you know what they want.
The Question is Always, What Next?
Online entrepreneurs work hard to find their audience and establish themselves online. Once their audience becomes clients the question is always how to keep the client. What is the next thing you can offer them?
What next, becomes one of the most important questions for client retention and business growth. This often means adding another niche to the armory.
In my case, it has meant building partnerships/joint ventures with other coaches who are able to take clients to the next level on the investment ladder.
For instance, as I teach monthly income dividend share investing, clients started asking about trading. This was not an area that I wanted to get into. Through trial and error, I was able to build a joint venture for trading the US share market.
Today, I have over 200 clients who are part of US Share Market Clubs and Consortiums.
This was simply from asking, what next?
Listen to Your Audience
One of the best pieces of advice I was given when I started in the online industry was to listen to your audience. They will tell you what they want.
By listening to my audience and clients, I have been able to build an online business and a coaching business that helps my clients build wealth. In the process, I too continue to build wealth, income and live my dream lifestyle.
The audience will tell you which products and services they want and are willing to pay for.
How do you find out what your clients want? Ask them.
KNI Mastermind is where clients come together once they have completed Zero to Millionaire – Build the Foundation. In this group I frequently ask what do you need from me, to be able to move their investments to the next level.
The questions usually mean developing more products, services, seminars and/or partnership/joint ventures to get clients to the next investment level.
Growth for clients means growth for my business. This is why I started the Affiliate Marketing Program, US Share Investment Clubs and Consortiums, Property Investment Companies and a whole range of different courses based around the 4 investment categories – business, property, digital assets and commodities.
Listen to your audience and your clients and they will tell you what they want.
Diversification
How often have you heard the expression, niche down? It generally means looking at a niche and specializing in a specific area of the niche until you are seen as the go-to expert in that niche.
Yet, the wealthiest businesses in the world, started with one niche then expanded to meet their client demands.
Amazon started as an online bookseller. Now they offer a platform for e-commerce covering every type of product imaginable. They provide delivery service ensuring products are delivered promptly. They have movies and tv series streamed online and produce their own programs besides selling others.
Diversification is a large part of Jeff Bezos’s business model. Listen to the customer and they will tell you what they want is his ethos for growth.
Apple started with a computer, Apple 1. By 2022 they offered over 100 products including computers, mobile phones, watches and accessories.
When you can offer more products and services focused around your niche, keeping clients becomes easier and helps your business to continue growing.
Are You in the Right Niche to Make Money?
There are many different niches and niches within niches for making money.
Within each niche are many more niches. For instance, wealth can include, budgeting personal finances; growing an online business; building a property portfolio; investing in digital assets and commodities.
There are many sub-niches again an example is property. Some of the property niches are residential property; commercial property; hotels; garages and storage.
There are no right or wrong niches. The only questions are what does the audience or customer want? Are they willing to spend money? What can you offer next to keep your clients?