091: How to Choose a Niche for Your Internet Marketing Business and Decode the Science to Making Money Online

"Fail in private, succeed in public." -- David Ogilvy

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Stage 1: Quick Research

• Find the intersection of: what people want, what people need, what you're good at, and what's fun for you -- forum search, Amazon table of contents, ask your list if you have one
• Build a better mousetrap than your competitors, find their holes, absorb the changes, combine things from two competitors, give away one piece that your competitors normally charge for
• Important: teach something you've already known for several years, that way you're saying "something" (as opposed to bizopp stuff), and you don't have to do any new learning

Stage 2: Find Competitors Making Money

• Are there high ticket items, seminars, and membership sites about this?
• Paid ads?
• Do the high profile guys keep promoting it and keep their websites around for a long time?

Stage 3: Is There a Future In It?

• Why is weight loss a good idea but back pain isn't? Weight loss is an ongoing problem you can continuously help them with, back pain isn't.
• Huge offer: what can you sell for $100 that's worth $1000 to $10,000?
• What can you checklist and systematize to "dumb it down" and make it super easy

Resources

• Dropship CEO (Build an Amazon business)
• Profit Dashboard (Build a Fiverr business)
• Income Machine (Build an Information Product Business)

Podcast: Play in new window | Download (Duration: 44:41 — 40.9MB) | Embed

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Filed in: Archive 1: 2012-2016 • Niche Selection • Podcast