Everyone with an entrepreneur’s heart will always have this dream of having their very own business in the future. Some of you, I believe, already have the budget and the mindset. However, there’s just one tiny problem… the type of market niche to venture into. If you’re longing for a business yourself and have no clue what should your business be about, don’t worry. I have the three means that are proven effective to help you choose the best niche for you.
List All Your Passions
I know there’s a chance that some of you might’ve already tried this, but for those who did not, here’s my suggestion. List down everything – I mean everything – that you love doing. When I say love, it’s something that you want to do for hours and hours without getting tired. I want you to arrange them from your most loved to your least.
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From there, add a few lines of description on each passion. And, specifically, include what market niche they fall into. For example, if you wrote “drawing” or “sketching” at the top, you can have a market niche about pencils or drawing books – you want to make it as specific as you can be. Though you may have your business focus on “art,” but that’s just too broad and will cover too much.
This is a bad idea simply because one, people interested in art have specifications. Now all artists use the paint brush, some prefer to create sculptures. Two, you have no knowledge about the other elements of art such as painting, moulding, and sculpting. Even drawing alone has specialities. So, as much as possible, break it down into smaller pieces to make it easier for you.
List the Problems and Solutions of Your Niche
Quite a long heading, but to elaborate, once you’ve got a niche in mind that comes from the list. Your next task is to list the problems and solutions. To be specific, you have to list down problems that you have a solution to. The more you can answer the higher chance of success you will have.
If you’re not sure about problems, you can search for them in forums or in Quora. Most people will ask about things that need to be clarified or will simply ask for the mechanics. Again, take for example, “drawing,” some might ask about what is the best pencil for it. Or, some might ask the type of paper that works best when it comes to drawing realistic faces.
These questions or problems are goldmines. The more of them you can answer, the more knowledgeable you are and the likelier you can provide value. Moreover, while answering them, you will feel fulfilled. You can create a blog about these and sell items, too. Not only will you score better on SEO, you’ll also have a strong and supportive audience. Take note, if you can’t solve them, you better choose another one on the list of passions.
Test Your Niche
The next thing you want is to test it. When I say test, I did not mean to start and make it official. If you can, try a pseudo name for your brand or business. Keep it real, but at the same time, limit it as much as you can as you don’t want to harm your official name.
Have a dry run by creating social media profiles and have a free website. There are a lot of website providers that offer everything for free – you just won’t have your own domain. However, the point is, testing it. You don’t need to have thousands of followers or even hundreds. No, you got that wrong if you’re aiming for the people who’ll check you out. The point it if you’re enjoying the niche yourself.
Remember, you need to love what you’re doing or it won’t and will never work. That’s why I let you list what you love doing as you won’t get frustrated right away. If you’ve tested it and you’re still satisfied with how you made it, then that’s a good sign that it will work for you. But if you’ve tried it and after a few days you’ve quit or you progress and work on it at a very slow rate, odds are, that is not your niche.