Profitable Niche Secrets Nobody Tells You
What if I told you you were three questions away from finding the perfect digital product niche that will bring in money? Hi, I’m Michelle, and I help you make money online with digital products and AI. Most people tell you you’re the niche, but that isn’t helpful if you’re multi-passionate and like lots of different things. When I started my journey, I was completely confused, which was why I didn’t make any money in my first six months.
Fast-forward to now. I’ve made over $1,000 selling digital products, and this is the exact strategy I teach my students. It’s so important because it helps you stand out, makes your marketing much easier, and makes your audience actually want to buy your product.
Finding Your Perfect Niche: Passion vs. Skills
To embark on the journey of discovering your ideal niche, there are two distinct routes that you can explore: the passion route and the skills route. Both offer valuable insights and can lead you to a profitable niche that resonates with your core values and strengths.
The Passion Route
The passion route is where you choose your niche based on what you like to do. This approach particularly benefits those with deep enthusiasm for certain activities or topics. To uncover your passionate niche, here are the three questions you’re going to ask yourself:
1. What do you love doing?
Consider the activities you gravitate towards on your days off. What brings you joy and satisfaction? This could be anything from painting to writing to cooking.
2. What do you find yourself talking about a lot?
Reflect on the topics that dominate your conversations with friends and family. What subjects do you find yourself passionately discussing, whether it’s about the latest tech gadgets or the nuances of gourmet cooking?
3. What would you do even if you weren’t paid for it?
Think about the activities or projects you would still pursue even if no financial incentives were involved. This will help you identify your true passions.
The answers to these questions will reveal your passion points. Please choose the one you connect with the most or see the most opportunity with, and use it as a foundation for your digital product niche.
The Skills Route
The skills route focuses on what you’re good at. Even if it doesn’t initially ignite a passionate flame within you, proficiency in a particular area can be a lucrative avenue. Often, when we excel at something, the passion follows. Here are the three questions you should ask yourself:
1. What do people come to you for help with?
Think about the areas where you naturally become the go-to person for advice. Whether you offer guidance on career development or solve complex tech issues, your expertise is a valuable asset.
2. What skills have you learned from your hobbies or your career?
Consider the skills you’ve honed through your professional career or hobbies. Perhaps you’ve developed project management skills from your job or mastered photography as a hobby.
3. What comes naturally to you that other people might find difficult?
Identify tasks or skills that you find effortless but others struggle with. For me, it’s Excel. I love Excel, and I can build formulas for days. While I’m not necessarily passionate about it, it comes naturally to me more than anyone else. I know I can make a very profitable digital product out of Excel templates to help others who don’t know how to build formulas.
Luckily, I’m also passionate about online business and have those skills, so I don’t need to build Excel templates all day. Thank God!
Ensuring Your Niche is Profitable
Once you’ve chosen your niche, the next step is to ensure it’s profitable. This is where aligning your niche with the Big Three—wealth, health, or relationships—comes into play. These categories are the cornerstones of human needs and desires and are more likely to attract paying customers.
Evaluating whether your chosen niche can be categorised under one of these overarching themes is crucial. For instance, if your passion lies in fitness, you can position your digital product to promote health and well-being. Similarly, if you have skills in financial planning, you can align your niche within the wealth category. I’ve got a free resource below that gives you over 100 profitable niche ideas all within the Big Three, you can pick whichever one.
Research Market
After identifying a niche that aligns with the Big Three, the final step is conducting thorough market research. Understanding the demand and competition in your chosen niche is paramount. The best place to start your research is Etsy. Let me jump in and give you a live example. For this example, I assume I’m in the fitness niche. So, I will type “Fitness Meal Plan digital” and see what results I get on Etsy. If I don’t have any extensions to show me sales, I can use Etsy’s native platform to give me an idea. You’re looking for ones with the sticker “Popular Now.” These are all very popular now, so you probably should be selling these, right? You don’t need to sell them on Etsy for this to work; you’re just using Etsy as a research mechanism because it has the most extensive collection of digital products on the internet.
Additionally, other platforms like Amazon, Udemy, or even niche-specific forums should be explored to gauge the demand and see what types of products are currently successful. Look for customer reviews and feedback to understand your potential audience’s pain points and desires. This research will provide valuable insights into what works and doesn’t, allowing you to tailor your digital product to meet market demands.
Quick Recap
In summary, finding a profitable niche involves blending passion and skill exploration, aligning your niche with wealth, health, or relationships, and conducting thorough market research. You’re going to choose your niche based on your passions or skills, and you’re going to use these three questions for each of those routes to find the perfect one.
Bonus Tip: Don’t hesitate to seek the opinions of those around you. Ask your friends, family, husband, or wife, “What am I good at?” If you don’t know where to start, get a third party, get someone else’s opinion, because they will tell you what you’re good at, even if you don’t know. Once you’ve done that, you will ensure it aligns with the Big Three: wealth, health, or relationships. You can check out my niche ideas in the dashboard below.
Remember, the digital landscape is vast and dynamic. There are endless possibilities to create and innovate within your chosen niche. Embrace the process, experiment with different ideas, and keep learning and adapting. And then there’s the third thing about niches- abdigital products—I do it all. Let’s get the ball rolling!
