Updated: February 17, 2019
Okay, so far I've taken the high road in trying to help you choose what business you're going to get into but sometimes that isn't enough for people.
There are some of you reading this and asking a very popular question:
What niche makes the most money?
That's not a good question.
It just isn't. How many billion dollar companies are out there?
Are they all in the same industry?
How many successful magazines exist? TV shows? Movies?
Humans are diverse people. There is no one true super niche.
You see a lot of people start sites in the how to make money niche because how you make money is pretty obvious:
- Sell Bluehost hosting
- Make a Pinterest course
I'm slightly kidding here. Only slightly.
Hopefully, with my Craft Business example in the last section, you can see that making money is possible with most things that you select. It solely comes down to the audience and your ability to connect with them which is much easier if you share their worldviews and they understand your Why.
I've started plenty of sites that had audiences with worldviews that I just didn't care about. The sites never got to be anything big. They could make $2,000 - $4,000 a month but anyone can do that by just writing about popular topics and using Pinterest.
My goal is to always go beyond that and that's why I got rid of a lot of my sites. If I can't share the same worldviews as my audience and come up with a Why that drives me, then I don't see how I can make great money with the business long term.
I'm not the type of person that can just put their head down and do the dirty work without having some type of interest in it.
I stopped working for other people so I wouldn't have to do that anymore!
But, with all of that said, if you're still struggling to find a starting point there are a couple of things that you can do.
Tips for Choosing a Topic
Passions and Interests
The 4 Horsemen Niche Categories
- Irrationally Passionate
Essentially, if you look at any successful online business, they feed into one of these niche categories.
The idea behind them is that every person falls into at least one of the categories and therefore if you can find a site in one of these categories then you are good to go.
Money, love, and health are pretty self-explanatory. However, Irrationally Passionate might be raising some questions.
Irrationally passionate niches are the niches where from the outside you don't understand the fascination that people have with them.
For example, bullet journals and sneakers are Irrationally Passionate niches. People are crazy for both of them to the point where it seems irrational.
They aren't needed for money, love or health and yet people have no problem spending a ton of money on each.
These are the kinds of niches that a lot of people have success because, in the irrationally passionate niches, people do spend money.
There are pockets of communities that are based solely around irrationally passionate people.
One of the best things you can do though is finding a crossover between 2 or more of the niche categories.
Dogs (irrationally passionate) + Health = Taking Care of Your German Shepherd
Food (health/irrationally passionate) + Money = Starting a Food Truck
Parenting (love) + Love = Dating as a Single Parent
Now, I don't want you to get so caught up in the weeds to try to find crossovers for things. Many times it's easier to simply look for crossovers with regards to the content you produce or the products that you create.
The reason why it's ideal to do a crossover with those things is that you tend to focus on a very specific person and people like to have the spotlight on them.
Dating as a Single Parent would work because you know the specific audience that you're writing for. You know their worldviews and the problems that they are trying to solve.
Both of these platforms are great places to discover topics that people are interested in. I won't go into detail on how to do that because both places allow you to see what's popular and what's trending.
Sometimes it just comes down to exploring and randomly coming across something awesome that you didn't think about before.
Questions to Ask Yourself
Before you take the full dive into your audience/niche/topics, you should ask yourself a couple of questions.
Is there money in it?
Let's be honest, it's no fun starting a business with the intention of making money to only find yourself stuck with an audience that doesn't help you make money.
I asked this question first because I think it's an important one to ask. If you don't make money at some point with this journey you'll get discouraged and quit.
There is no reason to spend time and resources on something that doesn't provide you with the reward that you want.
How do you discover if it will make money? Pretty simple.
- Is there a large enough audience that you can get enough traffic to make money with ads? Not the best question to ask because then you need to convince people to get to your site, but this is how most food blogs sustain life.
- Are the people willing to spend money on the solutions to their problems? It's cool you want to write a blog on depression but do people spend money getting help with their depression?
- Are other people making the kind of money that you want with the same or similar audience? This is the most straightforward question. For example, I have people (at least once a week) if personal finance is a good niche for them. If you see others making a ton of money in it then why do you need to ask that question at all?
Also, don't hesitate to look at places like Amazon for magazines or books on topics. If there is money to be made with an audience, odds are someone is already doing it.
Special Note on Religion
There are a lot of people that want to start religous or faith-based sites. I understand, they want to share something with the world, however, you have to consider how people in this audience spend money.
By no means am I chasing you away from this audience, but you should have a solid gameplan in place with regards to making money before diving in.
If the gameplan is "make money with ads" you need to either think harder or possibly look for another audience.