How to choose your niche?

I believe this is the most important step you take in building your business. At this stage, you need to choose exactly the direction that you really want to do. That it will bring you pleasure, not negativity. After all, if you look ahead, then most likely the first six months or a year is the period in which you will reach your payback and will not yet make a profit. And if at the initial stage you choose a direction that does not bring you pleasure, then you will be morally exhausted — no money, no pleasure.

Let’s start choosing our direction or, as they say, choosing a niche. You need to create a table of 100 niches to choose from. It looks intimidating in the beginning, and you think how I can come up with so many directions. I can simplify and suggest ten search criteria:

  • Think of the times when your friends and acquaintances ask you to do something and even offer money for it.
  • Think and remember the products that are on the market and for which money is paid.
  • Your hobby — remember what you do on your weekend, perhaps it is a line of business.
  • Your expertise — you probably know how to do something better than others.
  • What your friends and relatives are doing.
  • You may have already tried doing something or are trying to do something right now.
  • Look up frequently requested searches on Google.
  • Perhaps you know where you can buy it.
  • View coupon services. Namely, the past shares, and what was the demand.
  • Check tops and pointless listings on Amazon and Aliexpress.

Remember the main thing, if this is your first business, then you do not need to reinvent the wheel. You do not need to get hung up on some of your ideas, which you definitely need to implement and write it in the first paragraph and in no case delete it. You need to choose something that already works and already brings profit to someone. Perhaps in another city, another area, and even another country. Then you can easily adapt this business for yourself.

Entrepreneur, businessman, owner of two companies. CEO of Home Robot LLC (2017-present)