5 Secrets to Choosing an Explosive Money Making Niche

 

These Money Making Secrets Will Blow you Away!

Three years ago, I decided I wanted to make some extra money online, and to be perfectly honest I got lucky. I randomly ended up on an interesting website of a fellow football fan, got in touch and he told me that he was making a killing in the “make money online” niche. It sounded too good to be true, but I gave it a shot and the rest is history.

money making secrets

 

Three years later I’m still at it and the results are evident in nearly every part of my business. I still get asked, though, how to find a truly explosive money making niche, so today I want to lay out five secrets I’ve discovered – both in my own ventures and by watching others – for choosing the right niche.

 

 

 *image owned by DaPino*

Secret #1 – Follow the Money

The pervasive thinking among Internet marketing newbies is that the “big” niches are over saturated, and that to be successful, you need something shiny and new.

That’s wrong.

There is a reason niches like dating, weight loss, fitness, and making money online work – they are ALWAYS in demand. Evergreen niches like this have a constantly replenishing audience of new customers.

If you create a good product, useful content, or build a reputation as an expert in any of these fields, there IS room for you. The barrier of entry is higher, but the payoff is huge.

 

Secret #2 – Innovate…to a Degree

In a crowded niche like “make money online” it pays to stand out. The information you share will always be similar to the information someone else shares, unless you innovate.

Find ways to innovate, sharing your secrets to success in creative ways other people don’t.

This does not mean to intentionally overcomplicate things, though. Be concise and to the point, but do it in a way that is unique to YOUR voice and your audience. Combined with a clever trick, your content will attract readers like a magnet.

 

Secret #3 – Learn the Language

Whether you have a niche in mind or are still standing on “Go”, learn the language of the industry. In my case, that meant reading about Internet marketing in general and knowing what all these metrics meant.

The “make money online” niche, for example, can be immensely profitable, but not if you’re uncomfortable standing out in a crowd. Relationship niches require a boat load of personal experience and anecdotes. Weight loss calls for expertise in that field.

Know what these niches need from you and learn to speak the languages.

 

Secret #4 – Research from the Inside

Once you choose a niche, or are on the verge of choosing a niche, go to where the people in that niche spend their time and interact with them.

Forums, blogs, Skype groups, Facebook – wherever they are, get in there and have conversations to learn how they talk and what they talk about.

 

Secret #5 – Follow the Leaders

Finally, follow the thought leaders in your niche(s) of choice. If you can’t decide between three or four niches, choose a handful of major thought leaders from each niche and follow their posts on Facebook and their blogs.

Get involved and learn how they think, how they speak, and how their audiences interact with them. As you understand the method by which these people share their information, you can decide if you are up for doing the same. At the same time, you can see just how much opportunity there is in that niche by the “holes” in their teaching.

money making secrets

The fastest way to develop a tier one innovation on an existing product is to use that product.

There are no “sure-thing” niches online. Whatever you choose, you’re going to work your backside off to see results. It’s what separates those who succeed from those who linger. If you use the tips above, though, you can cut through a lot of the distractions and disappointments and make it so much easier for yourself to find success.

 

Do you fancy making money in the 'make money online' niche? Find out how I make my money online

Please take a look through my other posts. There's almost 100 of them. 

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8 Responses to 5 Secrets to Choosing an Explosive Money Making Niche

  1. Ngenda says:

    I like the point about folowing the leader coz that what I do. I even take it a step further and analyze thier sites page rank and what sort of keywords they have using SEOquake. If the keyword have a low competition I try to take over them.

    Some may say it's being sneaky but i say its simply making them your over the sholder coach without them knowing… ok maybe its a bit sneaky :)

    • Gareth Morgan says:

      Ha, I think that’s a perfectly acceptable way to learn. Nothing beats a good bit of competition and most would call that technique ‘reverse engineering’. You find out what somebody successful in their field is doing, look at the end results and try to trace it all the way back to the beginning to find out how they became so successful. Good luck!

  2. Jack says:

    I must say that overall I am really impressed with this blog.It is easy to see that you are impassioned about your writing. I wish I had got your ability to write. I look forward to more updates and will be returning.

  3. Jules says:

    Thank you for this, I was actually inspired from the #1 to write an article, which gets really close to that. I agree 100% that people shouldn't be afraid of competition but rather embrace it: competition is what makes us improve, make better things and especially give huge amounts of value to other people. And that's what business is all about: giving value and getting something back.

    What I'm saying is that there's no need to invent the wheel – just improve it.

    • Gareth Morgan says:

      Hi Jules,

      I’m very pleased that the post inspired you to write something. When you’ve finished it maybe you can drop by and share it by using the commentluv feature?

  4. Gugulethu says:

    Really strong points G. These days you need to reverse engineer everything. All I'm saying is that be unique. You're right bro there's no need to promote something just because it's new in the market. I beleive it's easy to stand out these days because everyone else is busy making noise and offering no value.

    It's best to be yourself and don't try to come up with an avatar. Follow top people and see how they do their stuff. But I would rather follow someone who can make 600 sales in a webinar with 800 people rather than someone who makes a 600 sales with 4000+ people in a webinar. It's all about providing value. Don't use motivation use content, it's always king.

    Thnx G. great post

    • Gareth Morgan says:

      Exactly, G. Motivation is simply not enough to convince people to make a purchase anymore. Sure, it’ll grab their attention for 5 minutes or so but unless you follow it up with attractive, valuable content they feel they can use, you’re onto a loser.

      This was one of my biggest mistakes starting out. As I was supremely motivated to make money online, I didn’t need any content or value to make my decisions. I looked at an idea and ran with it. I assumed most people were the same but they’re not. They’re cautious and skeptical and will only trust you if you can prove what you have to offer will benefit them. :-)  

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