Starting an online business is no different than anything else. It requires hard work, perseverance, and ultimately fortitude. It is impossible to be successful with your online business if you do not take those steps everyday to make your business successful.
However, I have been around the block when it comes to niche business ideas and this article is hopefully going to provide you with an outline of 15 specific niche business ideas. Don’t waste your time focusing on unsuccessful ideas but I do have a few pointers for you as you begin.
- Patience and Perseverance: Make sure you live with this terms and really commit to them. It is impossible to succeed without them so make sure they are your best friend.
- Overnight Success is False: Too many articles focus on overnight success. The person who built a website and all of the sudden quit their job because of a million dollars in sales. Does it happen? Not overnight.
- Choose Your Date: Do you see too many men or women going to proms with multiple dates? Probably not. Quite frankly, it just does not work well. The same goes for online businesses. Pick one and commit. Once you succeed, you can focus on building your empire.
4 Niche Business Ideas You Can Start Today
Selling a Product
Finding a product to sell to customers is the ultimate entrepreneurial venture. In fact, in the mid-20th century many companies relied on door to door sales as a means of injecting their products into the market. Whether you create the product, or find the specific product to sell, this is definitely a first step toward building financial independence.
Starting out you need to understand what people want. What products are hot. And ultimately, what you can sell to actually produce financial results. Talk with others and make sure you are validating the need for the product or products.
Finding the product can be through suppliers or even using a drop-shipping site such as Oberlo. This allows you to sell on the website and have someone else ship it.
The best way to start is to create your own niche product website. You will want to focus the website on your product so that customers are well aware of the goal. You can do this by creating a landing page with details about your product.
Online Retail Stores
Moving on from a single product, you can focus on a niche such as outdoor furniture or even power tools to create an awesome retail store option. There are so many success stories in this category and ultimately something that is going to continue to grow. In fact, brick and mortar stores are feeling the brunt of these many online shopping options.
Building an online retail store often requires you to have products of your own or selling products of others. For example, you could create a niche website solely focused on sourcing products from Amazon. For Further Reading: How to Choose the Right Amazon Affiliate Product
You can use various platforms though, in addition to building your own website. Those include the following:
- Etsy: This is a great website to get started on if you are crafty, creative, and ultimately want to create your own products.
- Shopify: Shopify is awesome because it works on its own or with your own website. Basically it allows you to start selling products on day 1.
- Amazon: Clearly Amazon is a valuable resource for building an online store. Thousands of products, decent commissions, and limitless opportunity.
The bottom line is that an online retail store brings more than just a single product but the option to build a real following for multiple products. I personally love this option as it allows you to create a real brand while focusing on opportunities in the market. For example, you can focus on a growing trend by adding products to your store. This can be links, reviews, or even you fulfilling the product yourself. Above all, your options are endless.
One of the coolest and most effective online business opportunities comes from the consulting and teaching world. Imagine that you become an expert in a specific area and start offering courses or consulting for that service. This certainly allows you to become the focus rather than the products outlined above, but it also offers a lot of upside.
First, consulting and teaching can be done to wide audiences. You could create a course on Udemy which can create a considerable amount of passive income and offered to a wide audience. Let’s use the example of WordPress. You could start to offer cool courses on building a website with WordPress. Each time someone takes the course, you make money. This really can scale.
Second, consulting and teaching is something that can expand over time. You could focus on a specific niche topic such as WordPress development but then expand into other growing areas such as App development, design, or even copy writing. The bottom line is that you can start today and move to goals that might ebb and flow over time!
For an awesome resource on building an online course for free, please check out the following free course from Udemy: Free Course
This is by far the easiest to start but the hardest to accomplish. Why? Well, we have a great tutorial on creating your own website. All you need is a domain, hosting, and a theme. For more information on that feel free to visit our niche site tools page. Nevertheless, it is hard to accomplish because you need to find a topic you have a passion for but a topic that can also be financially viable.
Blogging is an awesome outlet. You can focus on providing valuable information to readers, update friends, blog for your self, and everything in between. The problem is that to create a financially viable niche website that utilizes blogging you need to focus on building valuable content. Exclusive Information: How Online Entrepreneurs Succeed in Niche Markets. The point is that you need to create value. Certainly possible, but remember you need to relentlessly focus on the customer to succeed.
Nevertheless, niche business ideas come in all forms and you can focus on whatever you are passionate about when blogging. One of my favorite examples is Minimalist Baker. Dana focuses on blogging her own recipes while also offering up her own eBooks. She is passionate about it and her readers trust her. We get free content but she also has a financially viable plan to building revenue. Think about your passions and think about what you can offer the virtual world!
Bringing Your Niche Business Ideas Together
Generating niche business ideas can be tough but ultimately you need to focus on your passions, interests, and ultimately the space you are comfortable in. The ideas above are solely ideas to get you started. Once you get going, you can focus on generating more online business opportunities. The point though is that you need to get moving. Focus, persevere, and start building an online presence starting with some of these great niche business ideas above!