The internet entrepreneur wants to excel where others have failed. Most business coaches will tell you finding your niche starts with identifying your passions. The reason being very simple-they’re what you know. A passion for fitness is a very popular place to start, but it’s not really enough information to rely on to establish a niche.
Establishing a niche means more than taking a passion and identifying how you can make it pay. It means making a difference in a field in such a way that your customers will get passionate about you and your site.
One of the ways is to identify the competition and see what are their strong points and of course weaknesses. That is where your approach to the business can differentiate itself. After identifying your passion try out some keywords relating to that part of your passion that can lead to profits. I like fitness but it’s walking that I have the most have time for so walking shoes may be the best fit for me to establish my niche.
Keyword searches for walking shoes may turn up some information that shows the largest retailers may be missing a certain market. The concentration on attracting the younger demographic could be missing the senior citizen boat; those who most likely choose walking as the main part of their fitness regimen. Gaps like this in the competition’s presentation are what you’re trying to find, and exploit.
When you do identify that passion remember, it is a passion so don’t get too emotional if it doesn’t look like it can pan out profitably. Keep an eye on the bottom line. Too many have made the mistake of investing too much time, effort and money on a deep personal desire that just doesn’t have enough market share available to be profitable. Decide on your niche after the other research, don’t stop at identifying your passions.