Deciding on your niche can feel like one of the most difficult tasks when getting involved in an online startup. You want to know if it’s profitable for one and two, you want to make sure that you enjoy it enough to continue pursuing it. In this post, I’ve compiled a list of questions to ask yourself before making your final decision on your niche.
Hopefully, this will help you place more focus on your interests than the potential profit of that niche. A niche that you have interest and a knowledge most other individuals don’t have is always the better option. That’s because it allows you to help people in ways that others can’t.
Simply put, your delivering added value that wouldn’t be available if it weren’t for you and that’s what is going to make you and your chose niche successful. So without further or due, here are 10 questions to ask yourself before deciding on your niche.
#1. Do you have a certain knowledge or awareness of your niche that others don’t have?
If it were me and I were searching on Google on a specific topic, I’d want that information to come from someone who either has an expertise in that niche or some kind of experience. This makes you as the individual much more authoritative in both the language and information that you’re providing. This is in my opinion, one of the most important and essential aspects when choosing a niche.
#2. Do you have any credibility with that niche?
Similar to question one, this question is asking whether or not you have a certification or degree relating to that niche. If you do, all the better. Though not necessary, this can definitely help boost the overall authenticity of your website or startup. Having a business you know plenty about beforehand will only simplify things in the long-run.
#3. Do you enjoy that niche? Does helping individuals in that niche give you a sense of satisfaction?
If you find that helping other individuals in that niche gives you satisfcation, than it sounds like you and your niche could be a potential match. The more inclined you are and willing to go out of your way to help individuals in that niche, the more successful you could end up being.
#4. Do you have ideas for that niche? Does talking about that niche excite you?
If you find yourself constantly talking about a niche, then it may be a good idea to pursue it. If you’re always thinking or pondering on a certain niche, than chances are you have some good future plans to expand your business even further. If that’s the case, then you’re probably more likely to take your niche seriously in your next business startup.
#5. Does competition of that niche worry you?
If the answer is yes, then chances are you’d do better finding another niche. If you have a deep and authentic interest in your niche that you are knowledgeable, then letting fear overcome your passion might not be for the best. While it’s understandable how niche competition can keep you refrained from starting with a new niche, there are always way to overcome this. This is especially true if you have a certain knowledge or degree within that niche that most others can’t attain for.
#6. Is that niche profitable?
If you’re worried that your niche might not be profitable enough, it might not be your best fit. On a more important note, you should realize that any niche can be profitable with the right planning and effort. If a niche you truly have a genuine passion or interest in requires more work, than it might be worth the extra hour or two spent per day trying to make that niche a success.
#7. Do you see yourself succeeding in that niche?
I’m a big believer in being able to visualize the future, even if it’s not always accurate. Having that right mindset is one of the best things you can do when going ahead with any new niche or startup. You’ll be more motivated, focused, and dedicated to see that niche through. The last thing you want is a niche that you quit with half-way through.
Oh, and in case you were wondering, here are 100 niche ideas I came up with, in case you need some inspiration or some new ideas to add to the list. Thanks, and if you have any comments or questions, please leave them below!