Online Wealth Secrets | Make Money Online

In any internet business model, that’s good if we can focus to a niche market.  First let’s we see what’s mean by niche market. From the wikepedia, niche market is a focused, targetable portion (subset) of a market sector.

Lets we look at this simple example;

You may want to begin by thinking about the topics you’re already interested in. This could be, for example:

Sports -> Specifically: Soccer

And so on. Notice how we’ve broken down those main categories into sub-categories.

Now this could be taken further and further…

Soccer -> Learning foot tricks

So what you can undertand from this simple example is we may choose to more focus and spesific market to start our online business.

Now you must think, ” what’s the reason behind this? The wider is better right?”.

Yes you are right and wrong. Why? This is because if you are only an individual person that want to start your online business with very limited capital, so better you are focus on niche market. This is because let say you think you want to open an online store that can sell anything, how you can compete with the giant and more established big internet player like walmart.com, amazon.com and much more giant online store over the internet. For sure they can offer much more lower price compare to you.

So, how to select our niche market;

1) Select from your own interest. Its an advantage if you have much knowledge and interest in your niche market. This is because the people will know you as the expert in that field, so they more confidence to buy from you. Another thing is if the niche is your interest or hobby, you will always happy and get motivated to continue with the niche.

In example, you hobby is play radio control car, so you can start sell radio control car from your online store through dropshipping or get the stock thru wholesale.

2) Select niche market with higher demand but lower competetion in the internet. You can use free overture keyword or any paid keyword analysis tool like seoelite, nichebot, wordtracker and more you can search it from google.

3) Select niche with still not unsaturated market and with high profit margin. You may not want to sell mobile phone due to low profit margin and too many big competitor through the net.

On top of that, you may have to do deep research before what decide what’s the niche market that you want to work on it. Of course there a lot of niche market that still can make high profit thru the internet if we are smart to think about it.