There are so many people who try to start a business online and end up giving up within a few months. There are also people who stick it out for years and never achieve the success that they initially thought they would have. Yet, there are some people who start an online business, start making money, and increase their income every single month. What separates the people who find great success someone from the people who find absolutely no success and quit after a few months? I’ll give you a hint; it is not the amount of money that they have to invest in their business.
The problem is that an online business can be based around the wrong online business ideas. This often happens when you choose ideas based around what other people tell you to do.
For example, when I started online, I was led to believe that the very specific niche of ‘Collector Trains’ would lead me to great success. Those people never told me that I would be bored out of my mind because I had no interest in collector trains, and I would be so distracted with other things that were calling for my attention, that my business was doomed from the start.
Following Your Attention Can Help You Achieve A Ton Of Success
Wherever your attention goes, that’s where you should focus your online business ideas. The things that you find interesting are the things that you are passionate about, have experience in, and have strengths in. For instance, if you find yourself checking out pet videos, forums and websites, then your attention obviously goes towards pets quite a bit. Building some online business ideas around pets would keep you engaged, committed, and interested in your business.
Even better, if you are actively engaged in an interest, then you know how many people are also actively engaged in that interest. For instance, if you are consistently checking out pet websites and forums, then you will know whether or not there is a huge demand for information on a specific niche regarding pets.
In short, you will have already done a lot of market research just by browsing and interacting with various websites in the niche. You will know what information people are looking for and what kind of services you need to offer your customers in order to gain their interest and make sales, which is ultimately what a successful online business is about.
Finding The Perfect Online Business Ideas
Because there are so many different niches and ways to start an online business, your head may be reeling trying to figure out which way to go. By using the following four steps, you can really simplify the process and zoom in on a particular niche you want to pursue. In addition, you can figure out a particular avenue you want to pursue that niche with.
1. What Are You Really Interested In?
There are likely a few things that have been your passion since you were a kid. Maybe you like to play music. Maybe you like to write. Maybe you have a huge appreciation for human interaction and the psychology behind it. You likely have more than one interest (and you may not even be aware of how many interests you really have).
Write down all of your interests, and even your sub interests. For instance, you may really enjoy playing music, but you may enjoy playing jazz or ragtime over any other type of music.
Once you have all of your interests written out, put them in order of most interesting to least interesting. Once you’re done, you should have a huge list of interests (niches) you would like to pursue as an online business. Start with the most interesting niche, and when you find some success with it, either incorporate your other interests into your current business or start a brand new business altogether.
Keep in mind that your customer will be able to tell if you are passionate about your business or if you are just doing it for the money. And, if they feel you are just doing it for the money, they will not likely support you. Having an interest in your niche will help you convince the customer of your passion.
2. Experience Matters, But Not As Much As You Think
Obviously if you’re building a business around your interests, you are going to have some experience. But you don’t have to know absolutely everything about your niche in order to succeed.
In fact, when I first started online, I read an article that has stuck in my head and proven to be very true. I can’t remember specifically who wrote it, but he was a successful online entrepreneur. He said that if you were willing to go out and read a few articles around a subject as well as read a book on that same subject, then you would already be more knowledgeable than 90% of the people looking for information on that subject.
3. Follow Your Strengths
Once you’ve picked out a niche to base your business around, and have gained some expertise, you now have to create an avenue to start your business. Deciding whether you want to write an e-book, start a blog, create a video channel, or sell some other kind of information, depends a lot on your strengths.
Following your strengths will not only help you get your business up and running quicker, but it will also help you find success in the long run. You will be more willing to continuously participate in something that you are good at and enjoy. Your customers will appreciate this dedication and be more willing to support you in your business.
So, if you really enjoy writing, then writing an e-book may be the best avenue for you. If you enjoy socializing, then starting a blog where you interact with your readers may be the best option for you. If you are really good at making people laugh, then you may want to consider creating videos that have viral potential.
4. Outsource Your Weaknesses
You are probably going to have some weaknesses when it comes to online business. For instance you may not enjoy social media marketing. That’s okay! With the boom of online business, tons of experienced and professional people have popped up to help you do the work that you are not interested in.
Of course, this will cost you some money. But if you are making some money, then think of it as an investment in your business. The more money you spend on outsourcing things that you hate doing, the more you can focus on things that you love doing, and your business will ultimately become more successful and earn more money. Do not try to skip certain areas of online business such as social media marketing. They are important aspects to a successful business.
In the end, whether you are new or have been online for a while, the above considerations can help you really narrow in on a niche and business avenue to pursue. Do not try to do more than one thing at a time! Narrowing your focus on one niche and avenue will help you find true success; you will be able to quickly overcome issues, improve your business, and give your customers exactly what they want.