Last week I published my 6 Weeks to Profits Challenge where I am inviting you to follow my progress as I build a stay at home business from scratch.
In this week 1, I am planning on finding a topic for my money making website. When it comes to niche selection there are two schools of thought: the first line of thought suggests to choose a topic you are passionate about and/or one you have an interest in.
The second philosophy advises to simply go where the money is being made regardless of your interest in the subject.
When I first started my online venture, I used to relate to the second school of thought. I could not care less about how passionate I was about a topic as long as there was money to be made. This was short-sighted as I soon realized that it was very challenging for me to come up with content ideas to write about and before long, I would give up and abandon the website.
With time and experience I’ve come to understand why it is important to pick a topic that truly interests you. If you are not interested, you are more prone to giving up too soon.
This week is about brainstorming. Coming up with at 3 niche opportunities.
Niche Selection Criteria
Here is are the criteria I use when selecting a niche:
- I pick a topic I have knowledge in (passion or not) or have an interest in learning more about
- The niche is popular
- It has one or more affiliate programs (lots of products I can recommend)
- A topic I can write at least 15 pages of content about (potential to expand as authority site)
This stage is crucial for the success or failure of my business idea therefore I will not pick a topic too quickly without enough background research.
Base on the previous criteria, I will explore the following 3 topics:
- Home Automation
I’ve always had a passion for all king of gadgets, especially when they are geared toward home improvement. Everything that helps the average home owner to automate part or all his house sparks my interest. Ranging from automatically diming a light to being able to monitor the house (cameras) at a fingertip. I thought exploring this subject a bit more would be fun.
- Pool and Billiards
I got introduced to Pool more than a decade ago and fell in love with the Game. I have my own set of cue sticks and accessories and although I don’t play the game as frequently as I used to, I am still very much into it. I am confident that I can come up with content ideas to fill up at least 15 pages.
- Remote Controlled Cars
I have an interest in toys cars, particularly the remote controlled ones. My house is full of them as I have two boys who enjoy playing with these devices. I am open to learning more about RC cars therefore I picked this topic as an opportunity.
As I mentioned previously jumping into website creation without proper research can lead to disappointment as the site may not attract any traffic or generate any income.
What I normally do as preliminary research is to jump to Google Trends and check if my idea is trending upwards or downwards over time.
Step 1: I head to https://www.google.com/trends
And type in the search box the term “home automation”
Step 2: Filter the time period to pick the past 90 days.
Home Automation – Google Trends
I picked the trend for the past 90 days because I am planning on building the site with content and start earning income within 6 weeks or less (45 days or so).
You can see that the trend is upward. Although this is not a guarantee that it will continue to grow in the next 90 days; it gives me a good indication of what’s happening in this niche.
When doing your own niche research, you can pick any custom time period you wish to review. I believe by default the trend starts as far back as 2004.
Next, I go to https://wwww.amazon.com and look up my niche to see if there are any products being sold.
A quick search shows more than 31,090 products.
I could do a similar check on eBay as well but I am satisfied with the results I see on Amazon for now.
Pool and Billiards – Google Trends
Pool and Billiards trend is also upward indicating lots of interest in the niche over time.
Again this is not an exact science, just some key indicators used for research and planning purposes.
A search on Amazon shows the below results with more than 56k related products.
Remote Controlled Cars – Google Trends
Similar to the previous two niches, the Remote Controlled Cars topic shows an upward trend.
Amazon reveals roughly 26k related products as shown below:
The goal of Week 1 is to pick 3 niche opportunies and do some preliminary research to see their trends over time. I choose a 90 day period for analysis but you could pick a wider range when doing your niche research.
Here is a summary my 3 picks with regards to my selection criteria:
|Criteria||Home Automation||Pool and Billiards||Remote Controlled Cars|
|Do I have knowledge in or an interest in learning more?||YES||YES||YES|
|Is this niche popular? (Google Trends)||YES||YES||YES|
|Are there affiliate programs or products being sold in this niche?||YES||YES||YES|
|Is it a topic that lends itself for 15 pages of content or more?||YES||YES||YES|
In Week 2, I will do some deep keyword research and pick my top niche among the potential 3 to build my money making website in.