6 Reasons You Need To Find Your Niche Market

Starting an online business is attractive for various reasons, namely…

  1. Low startup cost – compared to a brick and mortar equivalent
  2. Global reach
  3. You can work on it from anywhere that has an Internet connection
  4. It can be running 24/7 without much intervention from you
  5. Easier to scale as your business grows

We mentioned this in a previous post.

And it is also precisely these reasons why you are going to get a lot of competition!

So finding a profitable niche is important for 6 reasons…

Each niche has certain features…

  1. Size of Demand (ideally the higher the better)
  2. Sustainability of Demand (is it just a fad? how long will it last?)
  3. Commercial Value (level of profitability)
  4. Level Social Media Engagement
  5. How passionate are you about your niche?
  6. Appropriate Conversion Methods (e.g. Blogging may not be appropriate for some niches)

Next post…a tool to help identify more profitable niches!

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