How Can I Build an Online Business? Step 1: How To Find Your Niche Market

how can I build an online businessLet’s face it. Working for someone else for 40 years is a RAW DEAL. You probably think this to yourself every Monday morning. If you’ve ever asked yourself, “How can I build an online business?” then it’s time to take the first step.

Lately, more and more people are looking online to build a business. Startup costs are relatively low, and the freedom of being able to work from home is a giant carrot to chase after.

The problem is most people don’t understand one of the core elements of online business: finding your profitable niche market.

With 3.5 billion people online globally, just about any market can be profitable if you attack it from the right direction.

With the right platform, finding your niche market is easier than you think.


How Can I Build an Online Business? It Starts With a Niche


how can I build an online business


I’m going to share with you a video put together by the co-founder of Wealthy Affiliate. I HIGHLY recommend creating your free account with them if you’re serious about building a business online. The training you’ll get is unmatched and it delivers.

There are 4 basic steps to building a successful online business:

  1. Choosing your niche, (the part we’re covering here,)
  2. Building your website on the right platform,
  3. Knowing what your target audience is searching for so you can get them to your site, and following some easy but critical steps to keep them there, and finally
  4. Turning that traffic into revenue.

Complete those 4 steps and you’re well on your way to turning the internet into a tool for real profit. But first things first, let’s take a deeper look at that critical step 1.

The video below covers the following:

  • Understanding what a niche is,
  • Finding your very own niche,
  • Choosing your initial direction, and
  • Understanding affiliate marketing

Click the video link below.


how can I build an online business

Watch the video on Choosing Your Direction – It Starts With a Niche.


What Is a Niche Website?


Dictionary.com gives the following definition for “niche”:

how can I build an online business

For the purposes of business, a niche is a distinct segment of a market. Simply put, it is your target audience.

If someone is looking to lose weight, that is a niche. Maybe someone is looking to find simple, health conscious recipes for their family. That is also a niche. Or maybe someone is looking to make money online. This is also a niche.

Consumers buy things online every day and are usually involved in several different niches. As a result, as a marketer you can target those niches and create entire online businesses for those target audiences.


How Can I Make Money With a Niche Website?


You don’t have to offer goods or services yourself to have a very successful online business. As your website starts to grow with traffic, think of the influence it has. Consequently, promoting goods and services offered by online merchants is a very popular way to create revenue. This is called affiliate marketing.


how can I build an online business


Read my article “What is Affiliate Marketing and Does It Work? How to Make Money Online From Home” to understand this critical concept.

But don’t get ahead of yourself just yet! Remember the 4 steps!

  1. First, you have to choose your direction.
  2. Then you build content.
  3. Next you get traffic and keep them engaged.
  4. And it’s with that traffic that you have an opportunity for revenue.

The training you’ll get at Wealthy Affiliate opens your eyes to the system in play here. So trust the system!


Don’t Overcomplicate Choosing Your Niche!


how can I build an online businessAs you decide on which niche to pick, DON’T OVERCOMPLICATE THINGS!

While you don’t want to pick too general of a niche, like “sports” for example, finding your target niche shouldn’t be something you mull over for days or weeks.

Maybe within the sports niche you have a passion for coaching. What’s your favorite sport to coach? Also, what’s your favorite age group to coach? Now you’ve pinpointed your niche to “coaching youth basketball” which is a much tighter niche than just “sports”.

With the billions of people online searching throughout millions of niches, any specific niche can be a profitable one.

As Kyle shows in the video above, you can use a website like dmoztools.net (formerly dmoz.com) to find niches and sub niches to choose the direction for your online business.

The best tip I can give is to pick a niche around something you are passionate about. As you build content for your website, sincere writing that comes from the heart goes a LONG way. As a result, this will create a great user experience for your readers that will keep them coming back.


Can’t Decide on Your Niche? No Problem!


how can I build an online businessIf you can’t quite decide on your niche or you need some feedback, you can ask anyone in the Wealthy Affiliate community. You can even ask Kyle the co-founder himself. I don’t know how he responds to the thousands of messages he must get, but trust me he does.

Further, there are a ton of forums you can take a part in and get feedback on. I use it anytime I feel like I’m getting stuck with an idea. New eyes make all the difference sometimes.

As you watch the video above, it’s easy to see that there is a wealth of resources to be used at Wealthy Affiliate.

If you’re serious about building your business right, read my Wealthy Affiliate review and then enroll with your free starter account.


The Next Step: Building Your Website!


Do you have an idea for your niche? Share it in the comments below!

Tell me what target audience you’re going after. Need some feedback or a fresh look at what you have so far? Enroll with Wealthy Affiliate here and message me on my profile. You can find my Wealthy Affiliate profile here.

And now if you’ve got an idea for your niche, then you’re ready for the next step: building your website!

Follow me over to my article “3 Easy Steps: How to Build Your Own Website Free On Wealthy Affiliate” and let’s see how quickly you can be up and running, shall we?

31 Comments

  • Ninja Team says:

    So I’ve been taught. Thanks.

  • Tony says:

    Hi Eric, your first comment really struck a chord with me about working for someone else for 40 years. This is what we’ve all been taught as the course you need to take in life in order to achieve success. Like you said, those that are successful work for themselves. I’ve taken the plunge into Wealthy Affiliate. I wasn’t sure at first and thought it may be another get rich quick scheme. It is the real deal though and was awakening for me. Thank you!

  • Bill says:

    Hi Eric,
    What a wonderful article. Thanks and keep up the good work.

  • Ethan says:

    Great content Eric. I’m a WA member myself and I can highly recommend it for starting your own business. Not only do you get the training needed to do so, but you have access to the very large and very skilled community to help you out.

  • Peter says:

    I get this question a lot. “How do I pick a niche”? I usually answer with well, pick something that excites you and that you can write about. Having said that, it doesn’t mean you’re going to make money from it. You also have to be able to monetize it, through affiliate marketing like you suggested earlier.
    It’s the making money that’s the hard part about choosing a niche.
    Thanks for this great step by step and video. This will help a lot of people narrow it down. Keep up the great work!

    • Eric Cantu says:

      I didn’t understand the system that was involved at all before I got involved with Wealthy Affiliate. I guess I just thought that all these people making money online just had an audience and were able to convince merchants to partner up with them. Once your eyes are open to the system it’s like it all makes sense.

      Like you said, the niche itself isn’t what will make you money. Just about any niche will work when you do the rest right. So pick one you love and will love to write about, understand what that target audience is looking for, write posts around those things they’re searching for, and now you can turn that traffic into potential revenue.

      It’s actually a very straightforward system. That’s the reason I recommend WA so highly over all the other schemes out there. Thanks so much for the comment, Peter. I appreciate it.

  • What really stuck out to me was the part about niches. When I first started, I realized that I was being to vague with what I wanted to address. At first my website was about passive income and promoting books and talking about real estate and stocks and affiliate marketing that I was starting to spread myself thin. For anyone reading this, as stated in this article, don’t be to vague. I had to learn it the hard way.

    Jessie

    • Eric Cantu says:

      I appreciate the comment and completely agree. With all the millions of searches done in countless niches, even very specific niches are profitable. The key is picking something your passionate about. Makes all the difference in the world.

  • Nash2783 says:

    Nice article. Very informative and detailed. I am a starting this online business and I need more knowledge. Thanks for giving me more idea. It helps a lot.

    • Eric Cantu says:

      I’m glad I could help. The best advice I can give is to click one of the links above and read my Wealthy Sffiliate review and then start your free account. For anyone serious about building an online business it’s the best thing you’ll do. Thanks for the comment!

  • Dalton says:

    Eric,

    Awesome information man. Your posts never disappoint. It was a great read and I really liked the discussion on overcomplicating your content and your niche. I often find myself doing this.

    I definitely encourage anyone else reading this to jump into the Wealth Affiliate community, you won’t be disappointed.

  • Penny says:

    For someone who’s a total beginner to web-based businesses, you do a great job of laying out the initial steps to getting free from the grind. It is really sad to think about people selling so much time to crappy jobs, unthankful bosses, or just situations that are ok but not *enough*. We’re very fortunate to be living in the age of the internet, and able to take the power of self-made income back in our own hands.

    • Eric Cantu says:

      amen to that. well put! Thank you penny! And to think that NONE of this was available just a few short years ago. I wish I had been smart enough to realize the potential instead of just playing in chat rooms so many years ago lol.

  • Brian says:

    Building an online business is the best way to achieve financial independence and everything I’ve read confirms it. Choosing a niche you know a lot about and enjoy as well does go a long way in ensuring your success. I love the niche my website promotes and because of that I will continue to produce content for it. I’m sure the same goes for you. Great article and great writing.

  • Tony says:

    I am with Hillard. The first paragraph hit close to home. I guess you had me at “Hello!” The fact of the matter is that there are not many places where a person can work for a place for 40 years. It seems like you get started saving some money and you get laid off. Without a second or backup source of income, all that money goes into living expenses. Your plan seems reasonable and anything is better than some get rich quick scheme. Thank you for sharing your knowledge.

    • Eric Cantu says:

      Thanks for the comment, Tony. I had you at hello, huh. Haha. Well I know it first hand. I work as a firefighter and there are countless guys who have spent the bulk of their life risking it for others and it’s painful to see some of them unable to retire because the raw deal just doesn’t add up. I don’t want that for myself. I actually found Wealthy Affiliate while I was researching one of those get rich quick schemes. I never looked back 🙂 Thanks again Tony!

  • Ms. Kay says:

    Picking a niche for me was the most complicated part of the process…of course it was just me overthinking everything. I really wish I read your post before I put myself through that headache because I have since realized that picking a niche is easy–if you only think of something that you are passionate about…very simple. Thanks

    • Eric Cantu says:

      Sometimes what sounds simple isn’t so simple, right? lol. But you can’t go wrong with going with your passion. When there’s a fire inside you, and you build your life around it, with hard work you’re destined to succeed. That’s what I keep telling myself anyway. Thanks for the comment!

  • Sharon Whyte says:

    Hi Eric,
    You cover everything here to get a website started. A niche you’re passionate about is so important as you build your website. It keeps you very interested and you have so much to share because you know what you are talking about. Wealthy Affiliate sounds like the place to do it. Great article. Is that where you got your training and built this site?

    • Eric Cantu says:

      Hey Sharon, thank you for your comment. Yes, I know first hand just how powerful the training is because this entire site is a result of that training. I wish I could take more credit for it but I can’t lol. I do all the writing, and I’ll say I pride myself in the quality of the articles, but without the training all these articles would be lost in the abyss of the internet lol. Where you build your site matters. Thanks for chiming in. I appreciate it!

  • Imani Jones says:

    I wish I could have read your post sooner! When I first started I overcomplicated things trying to select the perfect niche and ended going back and forth between about four ideas and couldn’t settle on one.

    • Eric Cantu says:

      I think that’s human nature. We all over analyze. I kept myself purposefully away from my site’s analytics in the beginning because it would just make me second guess myself too much. With regards to niches, there are so many ways to make even the most remote ones profitable. It’s all about trusting the system and WA’s definitely got a good one. Thanks Imani!

  • Kurtis Quick says:

    This is really tempting to do. But, I don’t think I have the kind of money it would take to start a business. Wouldn’t starting an online business eventually cost me thousands of dollars?

    • Eric Cantu says:

      I feel like you’re leading me with this question just a little bit because I see that you’re an entrepreneur yourself lol. But I’ll bite. While every business is going to have overhead, an online business has tons of perks that a brick and mortar doesn’t have and the main one is cost. Anyone interested should definitely follow the links above to my Wealthy Affiliate review. WA delivers! Thanks for the comment, Kurtis!

  • I almost didn’t get past your first comment about working for 40 years being a raw deal. I worked 30 years for a company only to find that I was never going to make ends meet when I retired. Fortunately, I found Wealthy Affiliate. The idea of making money for myself instead of someone else puts my mind at ease. This is exactly the way to go for people wanting to start their own business.

    • Eric Cantu says:

      Amen to that. Everyone seems to just accept the status quo. I’ve even seen financial advisors simply advising people to work longer into their early 70s. How is that a plan? That’s what I thought would happen to people who had NO plan. The ultra successful all work for themselves. That’s a trend. It’s time we all realize it and jump on board. Thanks for the comment, Hillard! I appreciate it!

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