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Follow on TwitterI get a lot of requests for online business ideas and whilst many of those asking are dreaming of building a business worthy of the being on of the top ten Internet business ideas, most people just want an idea that they can pursue part time, as a home based business. I usually advise the former to look elsewhere as any really big Internet business ideas I have, I’ll be pursuing myself. I suggest the latter looks for a niche website idea.
So what is a niche website idea?
An idea for a website targeted at a particular niche market. A niche market is a focused targetable segment of a market, or for those of you that prefer the version in English rather than business speak, it’s a small highly focused market. Some examples might be: bushcrafters, strongmen, Olympic weightlifters, left-handed guitarists, vegans and so on. Think about your hobbies and you’ll probably come up with quite a range of ideas for niche markets.
If you think a niche website is the business idea for you and would like to know how to find and develop niche website ideas, then I’d recommend you start by reading my post: how to find niche markets.
So what are the benefits of niche websites?
Some entrepreneurs set out to change the world. I prefer to find a market, preferably an under-served niche market and then deliver what that market wants. That way you have a targeted market, who in the case of online businesses, will be looking for you (through the search engines) and you’ll face little if any competition.
Consider the examples I gave earlier and you might, especially if you have any interest in weight training, wonder how a vegan would manage to eat enough protein to be a strongman (or maybe that’s just the way I think). You might then wonder if there are any protein bars for vegans. If you used the Google Keyword Tool you’d find that around 1,000 people per month search for “vegan protein bars” (plus related terms) and if you then check Google’s search results you’d find there are only nine websites directly competing for the term and only two of those actually sell the relevant product.
You’ve then found a small niche market that is barely competed. Now that market alone won’t make you rich, but do that several more times, offer more products to the same niche market or find a bigger niche market and you’ll be able to make a very good living.
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This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
Great “to the point” article. Bottom line is a lot of a little can be a lot!…with a lot less competition.