Which Information Marketing Niche Should I Choose and Why?
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If you are thinking of getting into the business of selling info products, the FIRST thing you have to do is figure out WHAT you’ll be selling. Every time I do a seminar, speech or teleseminar, I get THIS question most often. Even if you already have a successful information marketing business, it would be worth reading this post.
I’ve talked about it before, but it bears repeating. If you’re going to be in this business for the “long haul”, then you’re going to have to make certain decisions up front. If you’re in this business to make the QUICK BUCK, then click off this post and go somewhere else. I certainly can’t help you.
Taking the LONG VIEW like I do, I am always interested in working in niches that will both hold my interest AND make me some money over time. It’s true that I also have a number of “pet” niches that I’m involved in that make me NO money at the moment. In the future, I suspect they will, but not enough to retire comfortably in the Bahamas!
When you consider a niche, ask yourself if you can get “excited” about it for the next 3-5 years. This would be the amount of time you should give yourself to build it up to a sufficient level that you might consider selling it. OR, if you’re like me, continue to make a monthly stipend from your hard work.
The BEST way I’ve found to figure out whether a niche is in this category is to look around at what areas you’ve been intensely interested in over the last 5 years. Before you even thought about selling something about that topic online.
When I look around at 98% of the niches where I have some financial interest, ALL of them are about topics that I have a sincere interest in. Some more and some less, but all of them hold my interest. If a link to an article appears online about the topic, I tend to click on read it.
What about YOU? What have you been watching and following over the past 3-5 years. This is a great place to start your niche selection process.
Many “gurus” advocate the MERCENARY approach to info product marketing. They’ll say: “Who cares if I give a rat’s a** about the topic as long as I can make money with it?” I don’t buy it. Unless you are one of the fortunate ones (much less than 1%) who makes a million dollars selling your info products, it’s always easier to STAY AT IT, if you LIKE the topic.
I’ve got a site on Indian Food, my favorite ethnic cuisine. I’ve got a site where I review movies. One of my other passions. Do they currently make me any money? Nope. Are they areas where I have a passion and WILL HAVE 5 years from now? 99.9% YES. Will they make me money 3-5 years from now? Yes. Some a little and some a little more perhaps.
Selling information where you’re JUST doing it for the money is like working for a big company. I did that. I didn’t like it. I didn’t work for anyone where I got super excited about the product or service.
Indian food? I can get excited about Chicken Tikka Masala!
Movies? I see a LOT of movies and LOVE a good one.
And you? What are you passionate about? This MUST be a HUGE factor in deciding which niche to go after. If not, it’s just like you’re working for a big company where you get a paycheck and don’t have any passion for what you do.
You want that? Then again, I’m NOT your kinda guy!
Tagged: Information Marketing, business philosophy, info marketing, information marketing business, information product marketing, information products, niche marketing, sell info products, selling info, selling info products, selling information, selling information products