Finding a Profitable Freelance Niche: Building Your Online (or offline) Business

One of my new writing clients is a website that focuses on women over 30 who want to live overseas in a safe and inviting environment.

Read that again.

You'll know in one sentence if the products and services are for you in that opening line. You're a dude? Not for you. You have no inclination to move abroad? Not for you.

Discovering who and what your niche is will not only attract and repel the right client. It will also tell you how much and if they have dinero to buy what you have.

Finding a niche for your new startup or gig is a fantastic way to generate side income or a new income stream. It also makes marketing and learning about your target audience easier. A niche defines a specific group or subset audience within a larger group or topic.

For example, instead of shirts, think graphic tees or tees from a super-specific TV show. These are a few examples of potentially profitable niches within the t-shirt industry. As you can see, slicing and dicing into a niche or micro-niche makes it easier to define your target client and better solve their problem.

Here are a few tips on finding a profitable niche for your online or offline biz.

Start with what you genuinely enjoy

The more you enjoy your work, the more likely your passion shines through your products and services. And the more that it shines, the greater potential for more clients.

On the flip side, starting a biz or side hustle just because there's cash to be made is not necessarily the best idea. It'll turn into a vampire that will steadily suck your lifeblood. Starting something like this is W-O-R-K! In the beginning, it'll be a lot of grind with little reward...so if you don't like it, it could be a painful road.

Start with what you already love.

Look for trending and relevant hashtags

Another simple way to see if there's an existing demand?

Hashtags.

Yes, I'm advising you to scroll through social media.

Looking for trending and/or hot hashtags can be super valuable. It tells you right away if it is being used or searched. If you can't find a hashtag, it is perhaps not something folks are actively searching for. As a new (or even an experienced) entrepreneur, it is always best to use hashtags with a decent amount of use and traction, but not too much as competition may be horrendous.

As an example, head to Instagram. Drop in the hashtag "donuts," It will show how many posts have been generated, probably like thirty million. The hashtag "#bostoncreamdonuts" has been used about two hundred and seventy thousand times. On this platform, as a new entrepreneur, it would be better to use the second hashtag to have a better chance of staying at the top and getting noticed.

The bottom line is that this new info shows you how popular a donut niche can be for a recipe blogger.

Hashtag away, baby!

Look at the current demand

Put another way, what are folks already seeking out?

A couple of wicked simple methods are these two websites;

Answer The Public and Google Trends. Both these tools will give you some basic info on what keywords folks are using and searching for worldwide. Plus, they may help you discover trends you hadn't thought of before. Ways to shore up your marketing strategies too.

Scope them both out. Compare and contrast the results to determine if there is already a need.

The final word

It's always a good idea to start your business with what you're passionate about.

Not only will you be more likely to stick with it, but you'll also produce better quality work. Once you've found that passion, use social media hashtags and tools like Answer The Public and Google Trends to determine if there is already a demand for the niche you've chosen. If there is, excellent! You're on your way to creating a successful online or offline business.

If not, don't worry; there's still plenty of room in the market for another player.

So get creative and brainstorm ideas that will help you stand out from the competition.

And remember this.

There are riches in the niches!

Thanks for reading. You can get more actionable ideas in my wicked famous email report. Each week, I share 3 executable ideas and "food for thought,"…all designed to propel you forward.

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