Choosing a Market is all about finding a group of hungry buyers and selling a product to them.
This means that we are looking for markets and niches that are already making money and already have a high demand.
We are not going to re-invent the wheel; we are not looking for some untapped market that no one has ever heard about.
Let me put it this way, if after you start making some serious money online you want to invest in selling something that’s never been done before then by all means go ahead but for now let’s start with a market that you can actually make some money in.
It’s also important that the problem or need of the market you choose can be satisfied with an information product i.e. an eBook, audio, video or software.
Why? Because information products are easy to create, sell and relatively cheap to produce.
Let me ask you a question, which do you think is easier to make and sell- a $300.00 treadmill or a $27.00 eBook on how to lose weight.
Obviously the eBook is easier to sell and you don’t have to worry about shipping and delivery costs.
Let me take out some of the guess work for you by telling you 3 huge markets and some of their niches that you can start with
• Work From Home
• Internet Marketing
• Forex Trading
• Debt Relief
• Real Estate/How To Purchase Foreclosures
• Headache/Migraine Relief
• Weight Loss
• Quit Smoking
• Acne Relief/ Skincare
• Relationship/Dating Advice
• Self improvement
• Stress Management
• Do It Yourself (DIY)
You can pretty much spend your entire life making money in any of the above niches by selling information products.
I also recommend that you not venture into more than one niche at a time.
A lot of people will tell you to get into multiple markets so that you can have multiple streams of income but this will only exhaust your time and energy trying to become knowledgeable in so many different areas.
It would be a lot more practical to direct all your energy into one niche at a time and become an expert before you take on any new markets.
A great way to find out if your niche is profitable is to check the market place to see if a lot of products are being sold there. Here are a few places to check – Clickbank, Amazon.com and Commission Junction.