Niche Profit Mentor

In part 1 of this article, we discussed some of the concrete things a niche business online could do for you.

Let’s now talk a little about the psychological side of profiting online from a niche business.

When you work at a job, or IN a business, you are restricting your freedom, sometimes severely.

The reason I capitalized the word “IN”, is that, when you have a business that you have to work in or the money stops coming in (or the money drastically takes a hit), it’s really not that much different that having a job and working for someone else. Sure, you’re the boss, and you get to call the shots, and there may be some nice tax breaks.

But I’ve been there, done that. I went from being an employee to having a personal training/coaching business. I found that my income went down, I was working MORE than before, and stress levels were much higher than 8-5 with a paycheck! If your goal is to own a business, you never want to trade your job for another job- which is really what being self-employed is like.

So what is owning a business?

Owning a business is when you can walk away and your business continues to pay you an income, when you’re not there.

Online niche businesses are a perfect example of this.

-You can create 1 niche site and focus on that site, earning all your income from this source. Eventually, through outsourcing, you can put the business on autopilot and have a nice life of very little financial stress.

-You can create many niche sites and once you’ve got one to a certain point, move on to another. This can also be automated and you can have a nice life with little stress, along with multiple streams of income.

But the main point here is the amount of freedom you can achieve with even one small niche website. Psychologically, this will do wonders for your health! Knowing that you can take that trip to Hawaii for a week and be getting money deposited into your bank account all the while you’re there is a fantastic feeling! Knowing you do not have to report to a boss is even better.

And, my favorite part of niche marketing is that you can let your creativity and originality shine. No more being confined to just one line of work. You can create all kinds of neat things and profit from your ideas online, expressing your individuality at far greater levels than in a job or in a self-employed situation.

Let me know when you are ready to start!

The first thing you will need to do in starting an internet business is to have a niche plan.

Finding a niche online is not as hard as it sounds, but it does take a little time to narrow it down. Here are the 3 steps to take to plan out what niche you will go after in your first (or next) online business adventure:

1. Go to Amazon.com. Do a search on the topic you are thinking of. Let’s say you want to do something with teaching Taekwondo. Do a search on “teaching taekwondo”. Contrary to what might seem like common sense, the more books there are under the topic, the better a niche it may be.

2. Next, head to Clickbank.com. Go the ‘marketplace’ area and search for “taekwondo”. Here, the fewer listings there are, the better your odds are that there may be an opportunity waiting for you in this niche.

3. Finally, go to adwords.google.com. Click on the ‘Keyword Tool’. Do a search on “teaching taekwondo”. Check out the ‘Competition’ column and the ‘Global Monthly Searches’ column. You want to look for search terms that have low competition and high (over 500 searches/month) monthly searches. Once you find this combination, you’ve got a niche!

There are other, faster ways of doing this, such as through the Get Niche Profits website, but this is a great niche plan to get you started.

If you have checked out Adam Short’s Niche Classroom site, you may be pondering if this is the right thing for you in launching your own web business. The answer may depend on what you are trying to do. Last night, I hosted a webinar, and Adam gave his presentation on what one needs to do to get started.

It’s a simple process, but does take a lot of time and effort at first. To quickly summarize the presentation, here’s what was covered:

1. Pick your niche. Use Amazon.com and clickbank.com to find popular topics that may not be saturated with products already.

2. Design your site. Simple is good, hire someone from the Philippines and pay very little. Use an opt-in form with an offer, and make your site article-rich.

3. Build your product. Ebooks are great. You can get one written on your topic for as little as $150

4. Write on-site articles on your topic. Use the 21-day article marketing method.

5. Write off-site articles on your topic and submit them to directories. Make sure to have anchor text links back to your site, or more specifically, your article on the same topic.

6. Write your own sales copy. A tool for this is provided in the Niche Classroom site where you can easily write a simple sales page yourself.

It’s great to see a system that’s broken down into easy steps to follow. It’s one of those things where if you do x, y, and z, you will get a profitable niche website, plain and simple. There is no hype or promises of millions of dollars, just something anyone can do.

For more on this you can check out the Niche Classroom.

How much time would you invest in something if you knew it could get you an extra $500 a month, without having to do much after an initial intense month or two? What about $1000 a month? Or $2000?

These days, it’s hard to find investments that kick off numbers like these. And, if you’re short on cash to invest, it becomes very difficult to take advantage of any investment opportunities that involve cash!

But we can all use time to our advantage. Sure it’s going to be tough to find much time if you are balancing a full time job with a family. But there’s always a way. I know a guy who was a medical doctor and built an internet empire, starting by waking up at 5 a.m. to work on his web business for 2 hours every day before work!

But it doesn’t have to be THAT hard.

You can start working towards your goal by just taking 1 hour a day. Sometimes, this is a great way to build your first website, as it makes you really focus for that 1 hour. And this leads to 5 hours a week and 20 hours a month. This is starting to turn into significant time! And the results can be:

1. An asset that pays you month in and month out with just a little maintenance.
2. A full time business that you can run from your home- or anywhere in the world
3. More time to spend with your family, traveling, working on your favorite hobby, or just relaxing

The best way to achieve all of the above is to get niche profits by building a business out of a passion or interest you have.

Ok, I may be exaggerating by using the word “easy” in the title of this blog post. But writing an ebook is likely easier than you think! I’m going to assume for the purposes of this post that you are not going to be outsourcing the writing of your book (another excellent way to get it done!). Here are the basics to get you off and running on your first ebook:

1. Pick a topic. This will either be a topic you are passionate about and want to teach (the best method), where you have a somewhat unique take on the information (I say somewhat, because it’s actually not necessary to be completely original here…you can take an aggregate of already available information and present it in your voice).

2. Do your research. Start with actually going to the book store! Pick out 3-4 books on your chosen topic, and get a grasp of what authors are talking about. This will help you zero in on the scope of your book, and give you ideas for topics to cover.

3. Outline your chapters. Just make a list of major points you would want to cover, 6-10 chapters (+ an intro and conclusion) work well for most books.

4. Write one chapter at a time. Devote 2 hours to just sitting down and doing nothing but writing for each session. If you can do 2 hours a day, you can have your book completed in 12 days (unedited)! The most important thing each time you sit down to write is to not worry about how it sounds, your grammar, or how to make it perfect. Just write all you can each session, and make it conversational- or, geared towards 8th-grade level reading.

5. Edit. You can hire a professional to do this, ask friends or family who may have expertise in this area, or do it yourself. I recommend getting some help, and a few eyes on your work.

6. Compile & Format. Make sure to do this last. The best way to start out is to convert your Word document into a pdf. There are free templates out there to add a little design to it as well.

See how easy it is?!

Kevin

p.s. please add your comments below!