Why People Have Trouble Making Money Online
Why People Have Trouble Making Money Online
Many people have the dream of making a wonderful income online. They follow different methods that have been successful for other people, but then wonder why they aren’t able to achieve the same success. This may have happened to you, and it’s downright frustrating.
Why is it that one person can use a certain business model and succeed pretty much right away while another person can try really hard and not have the same kind of success? One of the biggest roadblocks on the path to success online is choosing the wrong kind of niche.
There are some markets, or niches, out there that look like they’d be a good, safe bet, but actually aren’t profitable at all. It can actually take a lot of digging to find a good, profitable niche. If you don’t have the right methods for choosing a niche, then it’s very likely that is exactly what is holding you back from making great money online.
Some people think they can make money hand over fist by marketing to their own interests or passions. They believe that as long as they are interested in something, others probably will be as well. Unfortunately, that’s not always how it works. Just because you are interested in something doesn’t mean it’s an active, buying market.
Many people choose the wrong market because they don’t do enough research. They see that one marketer has had success in a particular market, but don’t do enough digging to really figure out how or why that market works. If you approach a market in the wrong way, you’re not likely to succeed.
Sometimes, people do luck out and choose a great niche but use the wrong business strategy in trying to make money with that market or niche. If you have a bad strategy, it’s just not going to work for you.
On the flip side, some people have a great business strategy but choose the wrong market. There’s a synergy that has to be present if you want to make good money online.
There are certain niches out there that are just too broad for the average, single-person business to break into. Sometimes, people have trouble making money online because they don’t find their “niche within a niche” that would be more profitable for them. They get lost in the crowd and wrongly declare that a market just “isn’t profitable.”
I’m going to take you through the problems many people have when choosing a market, and I’m going to give you the solutions. I’m going to show you how to stand in front of the money. By the end of this guide, you will know exactly how to find markets that are spending money hand over fist that you can profit from, today.
The Secret to Earning Great Money Online
If there’s any great secret to earning money online, it’s that you need to stand in front of the money. There’s no sense in working really hard in a niche that just is never going to spend a lot of money with you. It just makes sense to find a very active market to focus on from the get-go.
Another secret to earning online is that you need to find a way to stand out and differentiate yourself even in a very crowded marketplace. There are a lot of other marketers out there – you should not let that deter you. You should let it drive you to become even more dedicated to finding your unique selling point and standing out in a profitable market.
If you want to make great money online, then you not only need to find a desperate, extremely active and passionate market, you need to figure out exactly what to offer to that market so they will buy. You have to figure out their wants and needs. What keeps them up at night? What do they think about all the time?
To figure this out, you really have to dive deeply into the market. You can’t just wake up one day and decide that you are going to choose a niche. You’ll save yourself a lot of time and frustration, and end up making a lot more money, if you do some niche research first.
Choosing a Great Market
Before you dive too deeply into any niche, you need to get a general sense of what you’d like to focus on. The most important part of this is that you choose something that is already known to be profitable. You don’t want to struggle in a dry market. You want to make money very easily in a very active market.
That’s why you need to follow the money. It makes sense then to head to the largest online marketplace – Amazon. Amazon’s site is absolutely wonderful for finding great markets you can target.
You want to find a market that has an abundance of digital and/or physical products for sale. You want to find a market that has a ton of different products with many different reviews (both positive and negative). Amazon even has forums where people discuss certain products or topics – you can find a frenzy of activity on these forums for the most profitable markets, and that’s a great sign.
Another thing you can do is check to see if there are any magazines about the topic you are considering. You can find magazines on Amazon as well as sites like magazines.com. If there’s a magazine on the topic, you can bet it is pretty popular. Sometimes, you can use magazines to get ideas for general niches and then you can go even deeper into a smaller niche.
Also, consider passions your friends and family have. I don’t want you to think you can just enter into a market because it’s something you enjoy. You have to make sure it’s something a lot of people enjoy and something you can really earn money with. However, when you combine your own passions and experiences with an already profitable market, you can break through much more easily because it’s something you have experience with already.
A great, profitable market will have a lot of active forums with a lot of discussion. There will be a lot of Facebook pages and groups people actively post on. There will be a lot of other social media activity, books, products, and a whole lot more. You never want to enter into a market where there is not a frenzy of activity.
Also, make sure that there isn’t just a frenzy of activity, but there is a frenzy of paid activity. You want there to be a lot of competition. There should be Google ads, Facebook ads, books for sale, products for sale, and more. You should be able to find product reviews on the web and places where people get into heated, passionate discussions. It’s the passions and the desperate needs and wants that signify whether something will be a profitable market for you.
As you go through, take notes on what you find. If something really stands out to you, go ahead and choose it. Next, I’m going to have you dive even more deeply into a niche.
If you are having trouble, or have not found a general market or niche you would like to test out, then go ahead and do some additional research or brainstorming. It can help to sleep on it for a while. Take a long, hot shower or a walk to let your creative juices flow freely.
In the long run, however, this should not be a decision that takes you a long time. Money likes speed. The Internet gives you a ton of tools and a lot of data you can use to choose a great niche today – it really shouldn’t take any longer than that.
How to Dive into the Market
Now that you’ve chosen your general niche or market, it’s time to dive more deeply so that you can find the specific area of the niche you are going to target. Remember – you have to stand out from the crowd. That means you won’t be targeting the “make money online” niche in general, for example, you’ll find a specific area or corner of that niche you will specialize in – at least for now.
Go ahead and go to Facebook.com and find pages and groups that are related to the general market you are interested in. Find pages and groups that have thousands of likes or members, which signify that they are really active. Browse through the most popular and liked posts. What are people talking about? Continue to take notes. Especially pay attention to when people get into heated discussions or seem really passionate about something.
You can also join forums that are related to the niche so you can start to network with people and get a lot of data. You can sort forum threads by the most active threads and the most passionate topics. Some forums have marketplace areas where you can also gather a lot of data as to what’s popular.
It can really help you research if you buy some of the most popular books and products that are on the market. If you find out what makes these products tick, what makes them really popular, you can start to brainstorm your future plans for the niche.
Also, take a look at the reviews of the various books and products that are out in the market. Take a look at what people like and don’t like. What is really missing that they are desperate to find? This is all very important information for you.
The most important thing you can uncover as you do your research is which problem they desperately want solved. Again, this should be a problem or passion that keeps them up at night and that they would pretty much pay any amount of money to solve.
I hope by this point that you have found that niche research can be a lot of fun. There’s certainly no reason to fear it. There’s also no reason to skip it. It really doesn’t take that long to do. You are extremely lucky in that you can figure out anything you need to know without having to pay for specialized tools or make guesses. People post freely online and tell you everything you need to know. You can easily research the products that are out there and “spy” on exactly what the people of this niche have said they need and want.
Find Your “Niche within a Niche”
Now, you’re on your way to becoming an expert about the niche you are going to target. I stress over and over again that you really need to stand out in this niche. You are going to brand yourself at specializing in a particular area or solution.
Start to brainstorm how you can stand out. Start to research the competition and figure out how they stand out. Which area of this niche do you feel the most passionate about targeting?
Perhaps the easiest place to start is by considering which solutions you can offer. You are going to be offering solutions to the people of the niche. Your solution has to be something that stands out. This is a great starting point for your branding and it can really help you find your niche within a niche.
Remember, you are going to be spending a lot of time in the niche. That’s why you need to make sure you will want to spend a lot of time in it! How can you start to build a list? Which steps can you take to set yourself apart and to brand yourself?
You’ll be able to become much more successful, much more quickly, if you set yourself apart and find ways to offer something no one else has been able to offer, but something that is also desperately wanted or needed.
Basic Steps for Standing in Front of the Money
By now you should have found a niche that is bound to be profitable for you. That’s the first part of standing in front of the money – the next part is actually taking action. You can’t just find a profitable niche but never do anything about it. You need to test and track different strategies and stop at nothing to make a name for yourself in your profitable niche.
One thing you have to keep in mind is that if the people in this niche don’t spend money with you, they are just going to spend it somewhere else. You have to get out there and take action. You have chosen a niche that actively spends money all the time. Now, you’re going to stand in front of that money and funnel it your way.
One of the most important things you can do is start to build a list in your niche. Consider what you can give away for free to get people to sign up to your email list. An email list is the foundation for any online business and it can really help you stand in front of the money, whether you are an affiliate, a product creator, or both.
You also need to start offering a lot of value to the people of the niche so they pay attention to you. A great way to do that is by starting a blog where you share a lot of great information. Your blog can be your hub for building your list, and for all of your online activities in general.
You’ll be a lot more successful much more quickly if you start to network with others. By network, I mean get to know the people of your niche and allow them to get to know you. But it’s not just the people, your potential buyers that you need to focus on. You should also focus on the competition. In fact, you can leverage the success the competition has already had to drive yourself to success much more quickly. You can partner up with established marketers in this niche, for example.
Make it your mantra that you are going to provide a lot of value to the people of the niche. You are going to provide something they are very passionate about or something that helps solve a huge problem of theirs.
To make money, you are going to promote affiliate products as well as create your own products. You can focus on one or the other as you first get started, but it definitely makes sense to have both branches of monetization present in your business.
The niche research you’ve done to this point isn’t just a one-time thing. If you really want to stand out in this niche, and become a thought leader, then it’s very important that you stay up to date in the niche. You should know the latest news and information and what is popular and needed in the niche. People should turn to you first because they know that you know what you’re talking about. They’re going to learn that you have their best interests at heart.
To do that, you can set up Google Alerts for the primary keywords that you’re targeting, as well as follow the RSS feeds of the primary blogs and sites in your niche. That way you’ll constantly have a wide range of new information at your fingertips before most others do.
As a marketer, you are always going to be ready with more solutions. You are always going to get more buy buttons out there, and people are going to love you for it.
Moving Forward As You Stand in Front of the Money
Now, you have the information you need to successfully find niches and succeed with them. Gone are the days where you felt around blindly, wasting a lot of your precious time on niches that were never going to be profitable for you. Now, you know how to stand in front of the money so you can become very successful, very quickly. Find your great niche and take action today – success can be yours much more quickly than you ever thought possible.