QA05 - How do I figure out if my niche will be profitable?
Flipped Lifestyle™ Podcast
Shane Sams
4.9 • 575 Ratings
🗓️ 23 October 2014
⏱️ 7 minutes
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| 0:00.0 | Welcome to the Flip Lifestyle Podcast, where life always comes before work. We're your host, Shane and Jocelyn Sams. |
| 0:11.0 | Join us each week as we teach you how to flip your lifestyle upside down by selling stuff online. |
| 0:18.0 | Are you ready for something different? All right. Let's get started. |
| 0:24.5 | What's going on, guys? Welcome back to the Flip Lifestyle podcast, Q&A with S&J. That's right. Twice a |
| 0:30.8 | week, we'll be answering your questions right here on the FlipLifestyle podcast. And if you |
| 0:35.2 | would like to leave a question for us, you can do so on Sunday nights at 8 p.m. Eastern Time. And that's left open for 24 hours, no matter what time zone you're in. And you can just leave a message there. And we will try to get to it on a future episode of our mini podcast. All right. Today's question comes from Tracy Minutolo. And please, if we butcher your name, forgive us because |
| 0:56.0 | we're very sorry. We don't say names right anyway, probably where we live. So just go with that. |
| 1:00.5 | All right. The question is any suggestions regarding finding and evaluating a potential niche for |
| 1:06.5 | profitability. Okay. So I think what Tracy is asking here is not necessarily like how do I find the niche |
| 1:11.8 | that I want to get into. It's more like I've got a niche I want to pursue. How do I know if it is |
| 1:18.6 | profitable? Okay. So there's a couple ways that you can do that. And one of the first things that I |
| 1:23.1 | always look for in a niche is are there competitors out there that are making money in this |
| 1:30.8 | niche? And this doesn't have to be a very specific thing like exactly what you're doing, |
| 1:35.0 | but more like a broad sense. For example, I knew when I got into the coaching stuff, I knew that |
| 1:40.8 | coaches would pay for playbooks. I knew that they would buy drill videos and other |
| 1:45.2 | things to help them become a better coach. But there was nobody out there offering the exact |
| 1:50.3 | playbook for my defense. So I knew that there were people out there that would pay money for this |
| 1:55.3 | stuff. I just had to create something that maybe didn't exist in the marketplace or a better |
| 1:59.8 | version of what was already out there. |
| 2:01.7 | So I think that one of the first things you need to do is just go to Google and search for your |
| 2:06.4 | niche and see if you can find competitors. See if you see advertising. If people are advertising |
| 2:12.3 | over in the sidebar for products, that's probably a good sign that people are out there and |
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