Looking for a niche market or niche opportunity for your first or next online business?
Choosing a business idea, product idea and niche market that is in-demand, has proven evidence of spending and lines up well with your interests and strengths is the most critical factor to planning your successful online business.
We’ve helped hundreds of people develop strong positions within niche markets using many different methods including trend watching, monitoring buying trends, market surveys, social networking and discussion forum watching and many others…all forms of market research that work especially well planning successful online business ideas.
USING NEWS SITES TO GET ONLINE BUSINESS IDEAS
Another technique that has worked for us is to pull ideas out of popular online news sites such as Google News or Yahoo News. If you already have an idea for a niche market but are trying to refine your idea, then niche news sites can be used as well.
Here are some important points to keep in mind when using Internet news sites for niche market research:
- Don’t expect to find gold in every story, you may find 15 about Britney Spears, but the very next story could be about a niche market, research study or topic that triggers the next million dollar online business idea
- Use internet news directories for brainstorming rather than idea testing or refinement
- Learn to extract broad ideas from very specific stories. For example, if you see an article about a new research study on obesity, then your topic obviously won’t be just that research study, but could be about a new category of research or about obesity in general.
It’s funny, I often get notes from people that express frustration that go something like this…
"I spent 1-hour surfing internet news sites and only see a bunch of dis-jointed stories that I can’t figure out for the life of me how to turn into a niche market business idea"
Yet, at the same time, I know people who can look for ten-minutes and discover dozens of ideas – so the answer is more to do with the mindset, training yourself to find the big ideas in the news.
We recently produced a video that demonstrates applying such a mindset to researching new topics, markets and business ideas online – you can watch it here:
"Millionaire Mindset For Finding Hot Business Ideas Online"
SOME EXAMPLES
For example…over athttp://news.yahoo.com/featured right now, here are 3 ideas I pulled out of the latest headlines:
1) New Video Report: "I’ll Have the Salmon: How much fish should women eat during their pregnancy
- Potential Niche markets: Pregnancy diet, Health of our food (this is a big one that has hit the news many times in last months and isn’t about to go away)
2.) "How We Read: Each Eye Locks OnTo A Different Letter While Reading…"
- Potential Niche Markets: Secrets To Effective Reading, Killer Techniques for Helping Your Child Improve Their Reading, How to Ensure Strong Reading Skills Over 60…
3) "Travel With Your Ears Wide Open: How To Find Podcasts About Your Next Destination"
- Potential Niches: Travel Podcast Directory, Travel Video Directory, Travel Interview Portal — etc…
Less than 10-minutes and there you have a few different niche market ideas that can be further researched.
Several special reports – free and paid – have been developed this way in our own business over the last 12-months, where the original idea came from a news story.
Applying these same market research techniques to find niche market business ideas doesn’t stop at internet news sites – in fact hobby sites, research sites and others can also be tapped for signs of in-demand business ideas.
Here are 3 additional "underground": market research sites you can use to quickly come up with high potential online business niche market ideas — "Stop Struggling To Find Hot Niche Infoproduct Business Ideas"
Jeff
