When I started looking for my first niche in online business, I thought I needed one to make the most money- a lucrative niche that would make me a lot of money. So which niche makes the most money?
There are a lot of niches that make money. Sure, there are a few that stand out, but that’s not really the main point.
Even if you were to pick a lucrative niche, is it something that you really enjoy doing?
As I’ve mentioned before, I believe it’s best to choose a niche in which you have a genuine interest.
It’s one that you are passionate about, or that you’re interested in learning about that will come a long way.
In this post, I will talk about why it’s important to pick a niche you’re interested in.
I think it’s best to put your interest first before the money components come in
- Why Go For A Niche You’re Crazy About?
- Choosing A Niche Is Not Only About Money
- Choosing A Niche Is Not A “One-And-Done” Solution
- Choosing A Niche Can Lead To Many More Ideas
- Questions To Ask Yourself
Why go for a niche you’re crazy about?
Picking a niche that you enjoy or want to learn about will make it much easier, especially when starting out in business.
You could pick the wrong niche and you could end up not making the most out of it.
When you pick a niche you’re not interested in, it’ll feel like real work.
Doing those tasks are going to feel a lot more like chores.
Also, it will it be harder to create more content, especially on the topics you’re not interested in.
But it’ll be more difficult going in that direction.
So picking a niche that you have a significant interest in will make it feel much less like work.
Which niche makes the most money?
There is no single niche that makes the most money. Some niches make more than others, but they change over time. Depending on the industry, what’s more important is to not pick one that makes the most money. Pick one that you have a genuine interest in, or that you’re willing to learn about.
Choosing a niche is not only about money
As I stated earlier, my first niche revolved around which one made the most money.
I was a little bit obsessed because I wanted to make a lot of money in a short period of time.
Little did I realize that wasn’t the case: Building a business in that short period of time just wasn’t possible.
The niche I picked at the time was a lucrative one, and I knew I can make a lot of money out of it.
But if it’s not something that I enjoy doing, then that’ll be a problem.
When you’re focused on the money components, you’re going to lose interest in the niche later on.
Shift your mindset
That’s exactly what happened to me when I started my first business.
I didn’t have an interest in it- it didn’t click on me and ended up not working out.
So the best tip I would give to someone is to really change your mindset.
If you’re more concerned about picking a niche that makes more money, then you need to reevaluate that.
Sure, you could have a niche that you love that makes lots of money; however, it can be the opposite.
The key thing to remember is that when you think of money coming later, that can help with your mindset.
How do you pick a successful niche?
When picking a niche, don’t focus on how much money you can make. Instead, ask yourself the following:
- How can I help others get what they want?
- What solutions can I provide to their problems?
- More importantly, how can I create an impact on their lives?
Choosing a niche is not a “one-and-done” solution
Many people starting an online business will pick a niche that’s a quick fix.
In other words, they see it as a one-and-done solution to their problems.
I find it to be the problem in the internet marketing industry today.
A lot of people will start picking a niche that makes more money for them.
They can succeed at first, but may see a decline in their business if they’re not providing value in return.
This idea of a one-and-done solution goes back to the goal of making money first and foremost.
But really, they should be focusing on a niche they find interesting and will make them want to build it for the long term.
A relevant article from notimekillers.com
Read next on “What Niche Is The Best For Beginners? 5 Things To Consider, to break down how to select a niche that works best for you.
Pick a niche where you can help others
One thing I like to do when picking a niche is ask myself the following:
- How can I help people get what they want?
- What can I do to help make someone’s problem a solution?
- How can I impact people’s lives in a positive manner?
When you choose a niche that gives you the opportunity to help people, it’ll make you more trustworthy and credible.
It indicates to others that you care about solving their problems.
People want the best solutions to their problems.
If you can provide that to them, they will come to you for the best answers.
Choosing a niche can lead to many more ideas
Once you’ve picked a niche, you never know if it can lead to more ideas to come.
Oftentimes, a niche can be broken down into several categories.
For example, let’s take the travel niche. There’s so much you can go over when traveling.
Also, it can be a saturated niche. but you can come up with many ideas where you can narrow it down to something more specific
In regards to traveling, you could break it down into the following:
- Forest preserves
These are just a few examples of places you can go visit.
Although I’m not in the travel niche, you can easily break it down into one category.
You can write about all the museums that you can visit around the world.
If you start out with a travel niche that focuses on museums, you can always expand on it later.
Whether that’s parks or art galleries, there are a lot of ideas that you can come up with when going into the travel niche.
What is a unique niche?
A unique niche is one that you have a passion for, or you’re seriously interested in. If you have a learning mindset where you want to expand on your ideas, that’s what makes them unique.
Your niche can be expanded
When you expand on a niche that could even lead to more opportunities, especially if it’s one that you have a passion for, it can get your creative juices flowing.
I experienced it one time when I was trying to come up with more content ideas.
Little did I realize that there are a lot of categories that I could do in the niche I’m in right now.
So don’t underestimate the niche you’re interested in.
You could eventually come up with more ideas that can help with creating content.
A relevant article from notimekillers.com
Read next on “Can I Blog Without A Niche? No- It’s Not That Scary!, to learn why having a niche for your blog is crucial to getting traffic and earning commissions.
Questions to ask yourself
- Is it best to pick a niche that makes the most money?
- Do you believe picking a niche can lead to even more ideas to expand on?
- Is there a niche you find that makes a lot of money but at the same time you find interesting?
- Do you think picking a niche where you can help others creates the best impact and results?
Picking a niche that makes more money will not get you far.
Sure, you can make a lot of money in the beginning.
But at the same time, you risk the opportunity to grow a successful business in the long term.
When you’re too focused on the money components, you’re going to lose interest right away.
Especially if it’s a niche that you’re not passionate about, you’re not going to feel excited.
But more likely, you’re going to feel very disappointed with the results.
My best tip
Instead of choosing a niche that revolves around money, pick a niche that you’re passionate about- one that you will want to talk to others about.
If you take the time to do that, you will find it much easier to grow your business.
As I said earlier, it won’t feel like doing chores.
Your Turn: Is your selected niche something you want to do, or is it all about money?
I would like to get your thoughts on this topic. Are you interested in picking a niche you’re passionate about?
If not, does it have to do with just the money component?
If so, what can you do differently about it? Will it help you stay committed to building a long-term business?
More importantly, is your niche something where you can help others get what they want?
Feel free to share your thoughts by leaving a comment below.
I look forward to meeting your responses, 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.