Hey everyone. This is Stefan from projectlifemastery.com and I've got
an awesome video for you guys today. I want to talk to you a little bit about
how to find a niche or a market to build your online business around. If you're
brand-new wanting to start your own online business,
this is one of the first most important steps that you have to take. You’ve got to
identify and find the niche, the market, or the industry that you want to be in,
the industry that you can build a business around and actually profit from. The
great thing is we live in the world of the internet where there's literally
millions of options.
There's millions of niches and markets and opportunities and industries that
exists that you can build a blog around, your own little website, you can build a
YouTube channel, a podcast, you can build your own following and presence on
social media, on Facebook, on Twitter, on Instagram, your email list in that niche
and market. When you're able to attract people and build your brand in that
niche and market, a little following, you get traffic, subscribers, whatever it is,
there’s so many ways to monetize that, there’s so many ways that you can
profit, whether that's affiliate marketing by promoting other products
and services that can solve people's problems or meet their needs or a desire
that your audience might have in that niche or market.
It could be creating and selling your own products. Maybe that's physical
products you might sell on Amazon, physical products that you might create
and sell yourself for private label. It might be creating and selling your own
information products or digital products or Kindle books on Amazon.
There’s so many different ways. Maybe even creating your own service.
Maybe there’s a service that you can provide that you can solve people's
problems or meet their need or desire in that niche or market. Maybe it's creating
software or different tools and resources that can benefit people. Every niche
and market’s different. Every niche and market will have its own strategy and game plan
of how to build it up and how to actually profit, because each one will
have a little bit of a different business model to go with it.
Now I think the first place to start, and this is often what I recommend for
people, is going through a brainstorming process. There's no exact formula or
niche that I can just give you and say, “Okay,
build a business around this.” I think you want to think about, you want
to have a few options to get started with before you decide the niche, the market
you want to be in. I think the first place to start is asking yourself what's
a passion, a hobby, or an interest that you have. If you really want to go deep
with this, I recommend take out a pen and paper, open a new document in your
computer, and brainstorm. Write out everything that you can think of that is
a hobby for you, or an interest, or something that you're passionate about.
Because if you can build your online business and you actually have an
interest or a hobby or a passion associated to it,
you're going to have a huge advantage over the long term. Now a lot of people,
some people when they start a business, they primarily focus on making money and
searching for a niche or market that they might not have any interest in but it's
a good opportunity to make money from. There's nothing wrong with that.
I did that when I got started. The challenge with that is that once you
start making money, and you might make more than enough money to cover your
lifestyle or expenses, at that point you're going to lose
motivation, because you're not really going to be passionate about it, you're not
going to have the interest, that desire to really focus on it and work at it
and really grow it over the long term, especially with all the ups and downs
that you might have to face.
I know for myself I experimented and dabble in all these
different niches and markets. I made money online. I did very well. But then I
lost all my motivation once I was making enough to cover my expenses and
lifestyle, because I didn't have any drive to keep spending time.
It was tough to get myself up early in the morning and staying up late
and stuff. I had some motivation challenges with that, because I didn't
really have my heart and the desire and the passion and the interest in the
niche, in the markets that I was in.
The great thing that came from that is it forced me to think and
actually discover my passion and discover different topics and things
that really interest me. That's why in 2012 I created Project Life
Mastery, because I asked myself, “What's my passion? What do I love?” For me I love
self-development, I love improving myself and being the best that I can be, to
actualize my potential as a human being. I love improving myself in all aspects
of life, whether that's health and fitness
and relationships, motivation, productivity, business, and marketing, and
finances, and spirituality, all these different areas I love and I’m passionate
about. I decided why not create a business around that,
why not identify it and jump into this niche and market and really build it.
The great thing is you don't have to be an expert,
you don't have to be a guru. In fact, I don't consider myself to be an expert or
a guru. You don't have to know it all or be the best. For me, I just perceived
myself as someone that is on this path to mastery in his life. I'm on
this journey to being the best that I can be.
I don't have all the answers. I called my brand Project Life Mastery
because I approach it as a project. Life Mastery, that's a project for me.
It's a never-ending project because I think mastery is a never-ending cycle,
a journey that you go through. For me, I decided I don't have to be
the expert, I don't have to know all the answers. But what I can do is I can use
the Internet and I can share my experiences. I can share what I'm
learning. If other people can benefit from that, great. The problems that I
solve in my life, if I can solve these problems, I'm sure there's other people
out there that have the same problems, the same challenges, the same needs and
desires. If I can share what I've learned and share and help save people
time and shortcuts and save them money in the process, then awesome.
That's basically what I did, is I built my online business around that.
Again, not having to be the expert, the know it all, but something just on
this path and being transparent and sharing my life and trying to help
other people in the process. I think that's the key thing. If you want
to be in the fitness market you don't have to be Arnold Schwarzenegger, you
don't have to be a fitness competitor, or a bodybuilder, or anything
like that. There’s many people that they're just on their own path and
journey, and other people want to follow them for that. They can share things
that have helped them and help people along the way and build a business that way.
There's many different industries and markets that exists, but again, ask
yourself what is a passion, an interest, a hobby that I have. Make a list.
It could be anything guys. Maybe it's weight loss.
Maybe you're passionate about that. There are so many potential opportunities that lie
within that.
There's so many different ways you can market and attract people and make money
in that space.
Maybe it's building muscle mass. Maybe it's dog training, you love animals.
Maybe it's traveling the world and you can build a business.
There's millions of people that all love these things. Millions of people search
for weight loss every month. Millions of people search online and are interested
in gaining muscle mass, or training their dog to be more obedient, or cooking,
or raw food recipes, or different vegan diets and recipes, or photography, or
gardening.
There’s millions of people that want to build their own garden, and
they're looking to learn from other people and follow
other people and maybe look for different products and services that
might exist in that niche and market. Maybe it’s sports.
Maybe you love tennis. Maybe you love basketball. Maybe you love badminton or
table tennis. I got a friend
super successful in the table tennis market, killing it.
Maybe it's a musical instrument. I got a friend who’s killing it in the guitar
market, how to play guitar.
He loves that. That’s his passion and he's built a whole business around
that.
How cool would it be if you can build a business around your passion, something
that you're interested in, or a hobby.
You don't have to be super passionate, but at least have an interest in it.
That's going to give you a huge advantage. It’s going to transform your quality of life. You're
going to wake up early motivated and excited to spend time in that business.
You're going to stay up late at night because you love what you do, you love,
and you want to impact people, or you're growing and you have all your needs
being met
because of the niche or the market that you're in. That's going to give you a
huge advantage like no other.
If you can really think and make a list and identify the interest and
have a few options, that will help you get started. Maybe you love
computers, maybe you love technology. There’s many technology and gadgets blogs and
websites and YouTube channels that exist.
Maybe you love self-development. Maybe you love business. Maybe you love marketing. Maybe you
love
Facebook marketing or you love Instagram marketing. There's a whole industry
for that as well.
There's spirituality and there’s meditation and there's
yoga. Then there's astrology.
There's so many different things that exist. Really that's the
first place.
Make a list. From that list you want to make sure that whatever opportunity
you pursue, whatever niche or market that there’s potential to earn money from
that. That's a key thing because you don't want to just put this
time into something and not be able to actually monetize that in some way.
Now the great thing is you can pretty much monetize and make money from
anything
now if you're getting traffic, because if you're getting traffic that shows
there's a demand there, there's a need, a desire. You've got to make sure
that there is that.
One of the best ways to do that is to do research online to see what other
people are doing in that niche or that market. If it's meditation you’d want to
look and find other blogs, other websites, other YouTube channels and people on
social media. You want to follow them. You want to learn from them. You want to
see what they're doing, because they've already paved the way, they've
already shown you what's possible, they’ve already seen how they’re marketing and
how they're attracting people and how they're making money and monetizing
their business. The Internet, everything is transparent. You can see
how everyone's running their business. That can
provide you ideas and validation that there's money to be made here and
that there's potential for you to make money as well. That's a really
important piece, is doing the research in that niche and market online. Maybe
look on Amazon, typing in those keywords to see are there products being
sold, are physical products or e-books or whatever, is it a big
enough niche on Amazon. Looking on Google, looking on YouTube, looking on iTunes,
looking on Facebook, looking on Instagram, typing in these keywords relevant to
that niche, that will give you a wealth of information right there.
Those are the first steps you want to think about. Then
you also want to think about the end in mind. What's the back end? How are you
going to make money?
One thing I teach in my Affiliate Marketing Mastery Training program, and
I'll have a link below guys, affiliatemarketingmastery.com. I’ll have a link in the
description
you guys can check out. I got a free video series and a training program. I teach,
you want to make sure
that whatever niche you get into there's potentially different products that you
can promote or sell. These are products that you can be an affiliate
for. You can promote other people's products because most products
on the Internet, they have affiliate programs that anybody can join. You
can promote these products. You can send traffic and have links on your blog and
social media and YouTube that promote other people's products. When people
click on the affiliate link and they buy, you earn a commission from that. You
want to make sure that again there’s profitability, there's potential for that.
There's a few products that you can promote or sell to partner with, because
that will also tell you that there is big enough potential in this market for
you to maybe one day create and sell your own products as well. There's a
certain criteria I follow. It’s just a little bit of what I share inside
Affiliate Marketing Mastery. I recommend if you guys want to go deeper
with this, check out that program, because Affiliate Marketing Mastery goes into
not just finding that niche but also how to build your business. Because once you
find the niche you want to build a brand. You got to register the domain name. You
got to make sure it's not trademarked and the .com is available for it. You got
to build the blog. You got to get the hosting. You got to install WordPress and
get all the right plugins and learn about search engine optimization so you
can optimize it. Then you got to be able to publish content, and learning how to
create content, and how to optimize your content for the search engines. You
got to learn about YouTube if you want to utilize that, and how to create
YouTube videos, and how to actually create content that people want,
people want to see it or watch it or consume it that adds value because
that's what's going to attract people to you. You got to know how to market
your content, how to get it out there and promote it. I know a lot of people,
they're in a certain business, but they don't know how to get found,
they don't know how to promote themselves and get themselves out there
and attract people to get subscribers and followers and traffic.
I teach all that stuff. Then also Facebook and Instagram and Twitter and how
to build a following online. Then most importantly, how to actually
monetize it and how to make money and promote and market and sell and do it
in a way where you're building a legitimate business that will last 10, 20, 30 years
from now because you're building a brand.
You're not just selling a product or a service. You're building a business.
There's a big difference. Everything ties into one another.
If you're publishing a Kindle book on meditation,
that's the niche, the market that you're in. There's more potential than just a
Kindle book on Amazon.
You want to build, okay meditation, I'm going to build a meditation blog, I’m going to
build a meditation tips newsletter,
I'm going to build a meditation YouTube channel, and I’m going to provide different tips
and advice on meditation. I want to create a Facebook and Twitter and
Pinterest and all these different things, Snapchat, and build an actual
business in that niche rather than just sell a product. Because you build the
brand, the business. You can promote your own products, other people's products. You
can promote and sell meditation audio mp3s, you can create and sell
your own physical meditation stools and chairs and everything associated
with that niche in that industry because you're thinking bigger. Think beyond
just the product. You want to think about building a business, building a brand in
a niche, and thinking about long-term, not just the short term.
If you can think about those things now and those strategies
when you identify the niches, the markets you want to be in, and kind of
have a business plan long-term and thinking about it that way,
that's going to give you a huge advantage. Hopefully these tips been
able to help you. These are things that have helped me and many other people. But
finding something you're passionate, interested,
have a desire for, that's always a plus. Not required, but it’s a plus. Profitability.
High demand.
Competition is always good because the competition tells you can see what other people are
doing.
You never want to be the pioneer though. Pioneers get slaughtered.
If you're the first one getting into an industry, there's no one else doing
it,
that's very risky because you don't know how well it's going to do.
Whereas other people have already done it,
they have proven the concept for you that there's a niche,
a demand there and you don't have to get slaughtered as pioneers often do. Look
at Apple with the iPod. They weren't the first people that created
the mp3 player. There's a few other companies, they had their own mp3
players on the market. They ended up getting slaughtered and Apple just
came in and just dominated that, because they
just had better marketing than everyone
else. Those are a few tips for you. Do some brainstorming, do your
research, identify that niche and market. Once you got that man, that's the
exciting part, a phase in your business to be in. You should be excited about
it. Then it's just taking those next steps to build the blog, the website, the
business, and sticking at it.
Thank you guys for watching the video. If you guys want to know more about how
to do this,
Affiliate Marketing Mastery, that's my course. I got a free video series. Go to
affiliatemarketingmastery.com. I’ll have a link below.
Head in over there. Check it out. You guys will love it. Make sure to leave a
comment below. Let me know what you guys think, what niche or market, any questions
that you guys have. Hit the Like button if you guys received value today and
subscribe for more videos.
Thanks for watching. Hey, this is Stefan and thank you so much for
watching this video. If you enjoyed this, then please hit the Like button below,
leave a comment to let us know what you think, and make sure to subscribe to our
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Now if you want to take your life to the next level, then I want to offer you a
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It's called My Life Mastery Toolkit and it literally has the best of the best of
what I have to offer in terms of videos, articles, and resources for taking your
life to the next level and living an extraordinary life. To get access to this
all you have to do is click the link that’ll appear right here on this video,
or if you're on a mobile device then click the link in the description below.
Then head on over that page, enter your email address, and I'll send you
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I want to thank you again for watching this video. Until the next one
I'll talk to you soon.