If you’ve been deciding on a new business, you may ask what niche is the best for beginners. I recommend no specific niche to anyone starting out in an online business.
When looking at it further, it depends on each person and/or interests. The best thing to do is pick a niche based on what you’re passionate about the most.
But that doesn’t come easy, so I’ll review what niche is best based on your interests. I’ll also check five things to keep in mind as you decide on a niche for your business.
UPDATED: DECEMBER 22, 2022
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- What Is A Niche?
- Do NOT Follow The Money
- Narrow Down Your Niche To A Specific Aspect
- Do Your Research
- Be Aware Of Failure
- Stick With Your Niche (For The Long-Run)
What is a niche?
In business, you often hear this term thrown out there. To break it down, a niche is a specific industry area that interests a group of people.
The key point of a niche is to break it down further rather than making it too broad. Let’s go over some specific examples:
- Film/Entertainment: Making trailers for new movies that are coming out (There are a lot of people who do it for a living, and it’s effective.)
- Accounting: Certified Public Accountants (CPAs) who do taxes for self-employed individuals
- Law/Legal: Law firms that specialize in corporate law only
Again, the main point is to be specific with the niche you choose, not generalize it too much (or be broad) at the same time.
What niche is the best for beginners?
There is no universal niche that everyone should decide on. Each person should pick their niche based on their passion and interests. Let’s go over five steps to review as you narrow down on a niche.
Do NOT follow the money
Too often, people will choose a niche that makes the most money. There’s the mindset of making a lot of money quickly, which can be too short-sided.
Sure, there are niches where there’s a lot of earning potential. For example, there are high-ticket affiliate programs that exist to earn big commissions.
But here’s the problem: The main focus turns to making money only, which it’s not the best approach to go for a new entrepreneur.
Instead, the solution should be to help and provide value to others. So when picking a niche, be careful about what you’re truly interested in.
A relevant article from notimekillers.com
Read next on “What Is The Main Purpose Of Going Into Business? My Answer“, to learn what doing business is all about in today’s economy. Regardless, everyone should look at this one as necessary.
Here are some questions to consider when choosing a niche:
- What do I enjoy learning about, or talking about all day?
- If there was one thing I wanted to do for the rest of my life, what would that be?
- How can I help others get what they want?
Remember: When we conduct business, it’s always about helping people first and foremost. If you can get into the mindset of providing value first, then the money will come later.
Narrow down your niche to a specific aspect
Once you’ve chosen your niche, it’s best to narrow it down further. Oftentimes, people pick a category that’s way too broad and try to appeal to as many people as possible.
Sometimes, you have to dive further to work around your competition. In other words, picking a specific aspect of your niche is the best route to go.
Once you’ve made your niche as specific as possible, identify your target audience and learn what they’re interested in the most.
That is what people struggle with as they build out their businesses. Let’s go over a few examples of how to narrow it down.
- Fitness & exercise
Instead of discussing exercise in general, break it down into a specific category:
A good one would be cardio and resistance training for men over the age of 50s.
Or another one would be yoga for women in their 20s.
- Entrepreneurship & marketing
That’s a broad category to go over, and this one is my area of focus for the website. But if I were to break it down, here’s my quick pitch:
I assist young professionals (aspiring entrepreneurs) in starting a business with minimal costs. That is, without taking out business loans or relying on venture capital to get started.
Moreover, I provide the best resources to assist new entrepreneurs in growing their businesses.
Do your research
While deciding on a niche, it’s very important you do proper research on it. Without doing research, it becomes much more difficult to create content in the niche you end up going for.
Some of the best resources you can take advantage of include the following:
Using the largest search engine online is the easiest way to get your research going. With Google, you can ask questions into the search bar, look up FAQS, and check out what people are commonly asking for (or what’s referred to as “People Also Ask”).
Popular Q & A forums such as Quora and Reddit are good places to get ideas for your niche. There are a lot of questions that users ask on these forums, which can make for great content ideas.
- Answer Socrates
This site is a free resource to get questions that are trending in Google. If you’re looking for another alternative to finding questions on Google, Answer Socrates is a good research tool.
Not many people realize that you can get niche ideas from the largest online retailer. In the case of shopping, you can look up products that you can potentially promote and sell on Amazon.
If you’re a regular shopper on Amazon, it doesn’t hurt to subscribe to their email lists to get ideas for a niche in mind.
I will discuss in more detail these research methods and how to get the most out of them in a future post.
Which niche should I choose?
There are many niches to choose from, but picking an evergreen niche is the best starting point. Anything that’s evergreen means that will always remain relevant, regardless if it’s today or five years from now. In other words, they can be topics of discussion to be had at any time.
Be aware of failure
Here’s one thing to always keep in mind: There are no guarantees you will succeed in the niche you select. It takes time and effort to work on growing a business, so you have to be patient and persistent.
It’s likely you will have setbacks, and you’ll definitely make mistakes along the way. Whether it’s small or large will likely happen, so it’s best to not have high expectations in the beginning.
I like to think of failure as a learning experience instead of the end-all-be-all. If you fail, keep going or reevaluate your niche if needed.
I have not failed 10,000 times—I’ve successfully found 10,000 ways that will not work.”
Stick with your niche (for the long run)
No matter what niche you end up choosing, I recommend sticking with it in the long run. Any business venture you go in should be viewed as a long-term project.
With it being a long-term commitment, be ready to make mistakes if they happen. There will be days when you’ll feel frustrated and have the urge to quit.
What is a unique niche?
A unique niche is one broken down into a specific aspect of an industry. It also caters to a particular group of people who enjoy learning about that topic.
One piece of advice I like to tell new entrepreneurs is to give your business around 12-18 months before you decide to reevaluate. It’s enough time to see the results of your hard work.
The likelihood of failing if you stick to it long enough is minimal. Even if your business fails, you will gain experience and learn something about yourself.
Overall, the most important piece is to not give up. Sticking to it long enough can make a difference down the road.
A relevant article from notimekillers.com
Read next on “What Is The Best Way To Earn Money Online? 3 Methods“, to learn the top approaches to making money online.
There is no particular niche that I believe people should pick for their business. There’s no clear “You should choose this area because it will make you the most money”.
Instead, an individual can pick a niche based on their passion and interests. If you pick something you truly enjoy and love to talk about at any time, then go in that direction.
The points discussed earlier can help a lot with making decisions on a niche. If you follow these tips, picking a niche will be much easier to do with the right mindset.
If you would like help picking a niche that suits you the best, I encourage you to check out the place I got my start.
If you join, you’ll go more into depth about picking a niche. With the best training you’ll get, you can pick a niche in no time.
Your Turn: Do you know your niche?
I would like to get your thoughts on this topic. Do you know which niche interests you the most?
Do you think it’s best to pick a niche that makes the most money? Or is it best to pick one based on what you truly are interested in?
How will you get started today with picking a niche? Will you stick to it in the long run?
Feel free to share your thoughts by leaving a comment below. I look forward to reading your thoughts, and I’ll gladly respond promptly.
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Eric is the owner and chief editor of notimekillers.com. He takes great pride in helping people manage their time and grow their businesses. Eric is a firm believer in financial and time freedom, as he believes in financial independence and taking ownership of your time. “Time is your most important asset. It can be your best friend or worst enemy. How you use your time can shape the future you desire to have.” In his leisure time, Eric loves to write and read whenever possible. He enjoys going for long walks outdoors while doing in-home workout videos every week. You can also connect with Eric via LinkedIn.