Research is the #1 most important part of starting ANY business.
Do it wrong and you fail no matter what tricks you try.
This is where a lot of newbies are getting held up too because they buy these fancy systems from the gurus that promise riches but they have never done the research. So when they go to use the system, they press the buttons but nothing happens.
Because they don’t understand WHAT they are doing and WHY they are doing it. They are just following the instructions written on the box (inside the course).
There are 3 simple rules that I’ve followed for 5 years now and that have never failed me.
- Find a group of hungry fish
- Find out what they like to eat
- Feed it to them
It’s a fishing metaphor that means you need to find a group of people with a common problem (Website Flippers), find out what they desperately want (Faster Bigger Flips), and give it to them (free report + upsell).
STOP STOP STOP!
What I just said is very important, you could literally fill in the blanks with your own niche and have the basis for a six figure business. I’m serious, it’s not any harder than that.
The hard part is filling in the blanks with the RIGHT information. For example, it cost me several hundred dollars in Google Adwords ads to find out that “Faster” was a key issue with website flippers.
It’s the one thing I knew that most of my competitors didn’t and why my ads were profitable and theirs weren’t. Niche research isn’t so much about finding out “which niche” but finding out what “triggers” that niche to buy.
The Quick Way To Finding Rich Niches
Too many people are trying too many overcomplicated methods for finding niche markets. You should be able to do it in your head in about 30 seconds or less.
What’s the last infomercial you seen?
Brazil Butt Lift, p90x, Ab Lounge, Total Trainer etc. etc.
Guess that means there is money to be made in weight loss, fitness, health! See how easy that is, let’s do it again…
What’s the last magazine you seen at the grocery store?
Bodybuilding, Photography, Home Decor, Wedding Planning, Recipes etc. etc.
Damn, I just found 6 amazingly hot niches in about 90 seconds!
Great niches are all around you, you just have to know what you are looking for and then practice being observant to those things.
I can’t tell you how many times my wife and I have whipped out our iPhones to do keyword research in the car because we just heard a radio commercial that mentioned key elements of a hot niche.
So What Is It That I Look For Then?
There is not a single “if you see this then you’ll be rich” element, but more like red and green flags. You train yourself to start seeing these red and green flags go up (in our minds, we’re not hallucinating!).
- Someone is doing an infomercial on the topic
- Someone has a magazine on the topic (and it’s been around for at least a year or two)
- People are paying for advertising on the topic (banners, adwords, tv commercials)
- You and people you know regularly buy products on the topic
- No one else is doing what you are doing (are you REALLY that smart???) #I’mNot!
- You can’t find out where they hang out (forums, blogs, meetings)
- No infomericals, no magazines, no advertisers
- Strange subject that makes people feel awkward when you talk about it
Now you know the red and green flags, TRUST IN THEM, and don’t go against them. I’ve tried and learned the hard way, even with all the marketing skills I have now I cannot make a bad niche into a good niche.
Plus, would you rather have an uphill battle the whole way or a downhill battle?
If you have an idea that has red flags, LET IT GO. I know sometimes we are very attached to ideas and think we are the smartest people on the planet, but you have got to start playing smart and leaving emotion out of the process.
Where Do We Start Now?
If you’re anything like me you’ll have ideas spinning through your head a million miles an hour right now. Wondering which niche you should pick and why you should pick it.
Here’s what I do…
What are my hobbies or what do I wish my hobbies were if I didn’t have one?
What would I like to do or talk about everyday even if I didn’t get paid to do it? Eating, Sleeping, & Sex are legitimate answers!
What resources do I have access too or could get access to easily that pertains to one of these niche ideas?
For example lets use scrapbooking. I’ve seen magazines about it, and I’ve seen infomercials for crafty stuff before and I seen lots of Adwords ads about it.
I know nothing about scrapbooking (red flag)
I could careless about scrapbooking (red flag)
I do not want to spend my days covered in pink felt scraps and stamp blocks (red flag)
My sister LOVES scrapbooking (green flag)
Her friends LOVE scrapbooking (green flag)
For me this niche is a good niche but not one I would choose unless I could get my sister and her friends to be the content providers and me just be the marketer behind the scenes.
Let’s do another one, this time the niche is “Marketing Your Martial Arts School.”
I freaking love martial arts!!! (BIG green flag)
I would love to spend my days kicking and punching and would do it for free (green flag)
I love marketing and I’m pretty good at it (green flag)
I love talking about marketing and would do it even for free (green flag)
I have seen ads for products about “marketing your martial arts school” (green flag)
I know people who have bought these types of products (green flag)
This is an obvious niche that I should pursue since I can’t even find a red flag.
I like the topic so it will be easy to stick with it, I’d do it even for free which is good because in the beginning I will be, and there are people already making money doing this so the trail has already been blazed.
I hope showing you my thinking process has helped you figure out how you should be thinking about niche research. Be careful not to get a case of “Analysis Paralysis” though.
Don’t over think it, this stage of niche research shouldn’t take you more than an hour or two. If you have multiple niches to choose from and don’t know which to choose… Write them down on index cards, flip them over and shuffle, pick one and save the others for later.
How Do You Find The Buying “Triggers?”
As I said earlier the money is not necessarily in picking which niche but know what the triggers are in the niches. You could be in the weight loss niche for years but if you never key in on the trigger you’ll always struggle to sell.
When you know the trigger selling becomes easy, almost impossible to not sell.
This is why every guru keys in on the “Make millions overnight in your pajamas” message. It’s a trigger that gets thousands of people every day to buy “make money online” products.
Guess what another trigger is…
“Screw the gurus and their smoke and mirrors, here’s the real secrets”
But I don’t know anyone using that trigger (cough… cough… Me!)
Here’s the deal though, these trigger things are very powerful and can either help you do good in the world or rip a lot of people off. I know my crowd is a good crowd but please lets all promise to use this next part for good.
Yes I use the trigger above to make sales, yes I know I am using a trigger, but I am also delivering the goods on the backend. Which is an important part of the equation if you want to make money long term.
How do you find these triggers?
You have to look for them and the only way to look for them is to get active in your niche. You need to become a member of the forums, facebook groups, fan pages, spy on them on twitter, get on the phone with them (most powerful), or survey them.
You can also cheat a little by spying on your competitors and look at their advertising. Is there a common message they are using? That might be the trigger.
ADVERTISEMENT: Part of my mastermind program is that I share the triggers I find with my members.
Armed with a legitimate trigger and a couple testimonials you could sell just about anything to anyone. Just add traffic, which we’ll talk about in later lessons during this challenge.
The only guaranteed way of finding true triggers that I have found is to browse my competitors marketing materials taking notes on headlines and benefits they use in their sales copy or advertising.
Then I browse the related forums to find the most active threads and try to figure out what is getting them so riled up.
Finally, I’ll take all those notes and create 5-6 Adwords or Facebook ads. Each ad will talk about a different aspect from the notes I took, each one could be the “golden” trigger. Now I run those ads at $5 – $10 per day for about 5 days. The one with the highest click thru rate is my “golden” trigger (or at least the best one I can find).
For about $50 out of pocket you can almost guarantee to find a trigger that will earn you thousands upon thousands in sales later on.
Your Assignment For This Week
Look around you for niches by looking at infomercials, magazines, radio commercials, and even just around your house. Practice using my red and green flags method of determining which ones are good niches.
Then look inwardly and ask yourself which of these niches would you like to pursue. Again use my red/green flag system to determine which niches are good fits for you. If you come up with multiples, play the index card game.
Once you got your niche picked out move on to trying to find 5 or 6 possible triggers and then try to prove which one is the best. This can be done for free by doing surveys and 1on1 conversations with people in the niche or automated by paying for ads and seeing which performs the best.
Notice, that looking for a product was never mentioned. It is INCORRECT to try and find a good product first. First you find the eyeballs and what gets the attention of the eyeballs. Then you drive those eyeballs to a product you know they’ll like using your “golden” trigger.
If you want to really swing for the fences then choose a BIG niche like weight loss, stocks, real estate, make money online etc. etc. These niches are harder but that’s because they are FULL of money and the barrier to entry is the extra effort it takes to play ball in these big niches.
I got your back and I’ll guide you through playing ball with the big boys.
DO NOT attempt this unless you have a serious set of brass balls. DO NOT let dollar signs blind you from knowing yourself and what you are capable of. There will be a CONSIDERABLE amount of extra effort and mental toughness to play ball at the big levels. First timers should start out in smaller ponds where money comes easy.
“To Thine Own Self Be True” – William Shakespeare
Ok we’re done for today which means you should ask any questions you have in the comments below. Tomorrow’s post will be a QnA where I will answer as many questions from the comments below as I can.
I also don’t mind flattery comments where you just tell me how much you liked this post. Helps keep me motivated!
Finally, if you did like this article than chances are you can help others (and me) by sharing it on Twitter or Facebook
“All It Takes Is Action And Action Builds Confidence”
P.S. There is a phenomenal book by one of my favorite copywriters that talks more about “Triggers.” You can read more about that book here. I highly recommend it and any other books by him, I have them all!