Internet Business-How To locate A Profitable Niche by Gen Wright

When you look at starting a Internet business, one of the first things that you must decide on is the niche that you will build your business in. But how do your decide on a niche and how will you know if that niche can be profitable for your new Internet marketing business? In this article I will give a few tips for finding a profitable niche market for your new online business. Niche Ideas; First we must start with listing all the ideas that come to mind for possible niches for your new business. Start with what you know. Look at your own areas of interest and expertise for clues for possible niches. If you can work in a niche that you already know, you will be way ahead since you won't have to deal with a learning curve for your topic. Other places for ideas are ebay Pulse, Google Trends, and book sellers like Amazon and Barnes and Noble. These sites will give you insight as to what is hot and what is selling right now. Research Time; Now that you have some ideas it's time to get down to the business of research. First you should look at your list and pick your top five niches for more research. One of the first things that you need to find out is if there is enough interest in your topic to support your business. This is also when you will need to start thinking about your business model. You will hear a lot of people telling you to get in small low competition niches. That may be good advise if you plan to build a lot of sites in a lot of different niches. However, The bigger and more competitive niches are that way because there is a lot of money being spent in those niches. That being said, it's time for the next step... Check the demand; Now we need to find out if there is enough demand for our niche to support our business. How will we do that? There are many ways that we can see what the demand is so we'll start with some simple keyword tools that will give us the number of searches for related keywords. For this I use the "seobook keyword suggestion tool". This free tool will give you the estimated average daily searches for your main keyword and give you up to 100 additional related terms and their search volumes. This is also a good time to make a note of the other suggested keywords that seobook gave you. If there looks like decent search volume for this topic then we can now dig deeper into the niche. At this point I like to go back to Amazon and see if there are any books being sold on the topic. If there are physical books being written and sold on a niche topic, that's a good indication that there is good demand and that the niche can be profitable. You should also make a note of the topics of the books being sold. These topics will give you some good ideas for your own product for your internet marketing business. Now that we have a general idea of demand for the niche for our Internet business, it's time to take a look at... Check the supply; Now that we have a niche topic and know that there is sufficient demand for that niche, we have to take a look at the supply or the competition in that niche. A side note here...don't let the fear of competition scare you away from an obviously profitable niche, Especially if you have some background or expertise in that niche. Competition means that there is probably money being spent in this niche and that is what you want. Look at the competition and see what they are selling and how they are doing their marketing. Learn from your competitors and then get your own Internet business started and get in there and compete.