Identifying a Profitable Niche

One of the questions that came up in the Niche Seminar Secrets Survey was, 'How do I choose a niche?'

To answer that, you need to ask yourself what it is you really need to know. Then, the answer becomes obvious:

You need to know what people are currently interested in, and especially what they're currently spending money on. It's quite easy to get a broad idea, but you will need to narrow it further. Remember that a broad niche may give you a bigger potential audience but to capture an enthusiastic, hungry crowd you need a smaller, more focused niche who will be keen to find out anything they can about their favourite topic.

Here's a simple three-step process to help you find your broad subject area and then identify your more tightly focused niche:

1. Remembering that seminars are information products, we can look elsewhere to see what subjects people are currently buying information about. So our first stop should be Amazon, the world's largest online bookstore, to study their list of current bestsellers. This gives you a very good idea of what's hot, topic-wise.

2. Visit your local magazine retailer and see which topics have the most magazines devoted to them. Also, watch to see which ones seem to sell best - you'll need to linger for a while - and browse through a few. Magazines that carry lots of advertising are probably doing well, since most (though not all) advertisers are quite careful not to waste their advertising budgets in magazines no one reads. The more successful magazines will be the ones that hit a particular niche most effectively, with content that suits the current tastes and interests of their readers. Make a list of the contents of these successful magazines. Now you're beginning to home in on your target.

3. Finally, visit online forums dedicated to the niche or niches you've identified. Now you're not just looking for the niche topic and its enthusiasts; you're actually going to find out exactly what they want to know. By spending time following discussions, contributing comments and questions of your own and identifying people's most pressing questions and problems, you will have found your niche and also have a very precise idea of exactly what questions to cover in your seminar. By contributing freely - you can research the answers elsewhere - you will also have begun to establish yourself as an authority in that area and developed a following - your first potential delegates!

You'll find more information and ideas about identifying a niche and its enthusiasts in Niche Seminar Secrets, including how to use other people's events to launch your own. And the one-dollar trial of Niche Seminar Secrets is still available, right here on this blog.

For just one dollar, you can secure a 30-day trial of Niche Seminar Secrets, with a further discount available at the end of the 30 days. Just choose the payment option you prefer when you order your one-dollar trial.

Here's to a prosperous 2009. Yes, it is still possible!

Roy