Simple Formula for Identifying a Niche Market

There is a simple formula to identifying a niche market for your internet business:

1. Start with your passions and interests – this makes sense because you’re going to be spending a lot of time promoting this business, which will involve a lot of writing about the subject – you better like it.  And, if you have a passion for it, you can probably bet other people do too – add the power of the internet and you have enough reach to make some money

2. Look for a problem people are trying to solve – in an earlier post we talked about why people use the internet, and research is key – whether it’s to solve a problem like curing acne or which game system to buy.  Your goal is to find enough people who have a problem and then help them find a solution (one they’re willing to pay for).

• Here are some examples of niche products:
• People trying to find all natural cures for acne
• People trying to find pet products for ferrets
• People who want to make crafts with dried flowers
• People who want to figure out which digital camera to buy

One final thing to remember – there is a lot of free content on the internet and to a certain extent, people expect information to be free on the internet.  They don’t necessarily go online to start buying first.   You have to make sure your niche market will have enough people who are searching for solutions and who will be willing to pay to solve the problem.