You can’t build any type of online income if you don’t have an audience.
And having an audience means you have a niche because that’s what a niche really is.
So the question of how to choose a niche is really a question of who you want to serve.
But isn’t a niche a topic? In the old-school sense, yes. But because you want to be successful in building an online income you’ll need to choose an audience to talk to.
The better you know your audience, the better you can talk to them.
The better you can talk to them, the more they feel a connection with you.
The stronger connection they have with you, the more likely they are to buy your offers.
The 3 Egos
As you can imagine there are millions of niches to choose from. If I showed you a list of potential niches it would be overwhelming!
Making money isn’t easy if you don’t choose the right path.
That’s why I always suggest targeting one of the three Egos.
What are those?
Basically, if you can help people get more of one of these, then you’ll make your life a lot easier.
What about other niches that don’t fall under those categories? You can make money with almost any niche.
I’ve helped people build amazing businesses around freezer meal plans, quilting, and homeschooling. It’s possible to make money as long as there is an audience willing to spend money.
But this isn’t about taking the hardest road (not that the ones above are hard). However, when building a curriculum for millions of people it can be hard to create something that is effective for every single niche under the sun.
So even though you can take what you learn here and apply it to any niche, your best bet is to choose from one of the 3 Egos simply because we all know people spend money on those.
Thousands of Options
It’s easy to feel limited by only getting to choose between 3 categories, but the truth is that there are 1000s of sub-niches under them.
For example, let’s say you want to help people succeed on TikTok by offering some type of TikTok profile reviews. This would fall under the Wealth niche because people can use TikTok to build an audience and with that audience make money.
So don’t fall into the trap of thinking these niches are just for the slimeballs of the Internet. It’s just that sometimes the slimeballs speak the loudest so you come across them first.
Live in the Audience
Because an audience is a niche and you’ll need to basically live with these people it’s important to see how they are.
What do I mean?
If I choose to teach you about Obsidian so that you can retain your knowledge and create better content, then I should see what people who love Obsidian talk about.
Can I live in their world and enjoy it?
For example, I’d visit the Obsidian Sub-Reddit and spend time talking there. I’d visit YouTube and see what kind of videos are being created around Obsidian to see if they interest me.
Because the truth is, while one of the goals is to make money if you can’t find an interest in your niche, making money becomes extremely hard.
This isn’t about following your passion. This is about waking up every day and talking to the people you’ve chosen to talk to.
Follow the Money
Now, just because you chose a niche from one of the 3 Egos doesn’t mean you’ve chosen one that will make money.
For example, if you decided to teach people how to use some obscure Android app that saves people time (and therefore allows them to spend more time making money) then there is no point as there is no audience.
So what do you do?
The simplest thing you can do is see if other people are making money with your chosen niche.
It’s really that simple.
And don’t think that just because someone else is making money it means you can’t because the niche is now saturated. You want other people making money because it shows the niche is valid!
Let others do the research ahead of time for you.
There are enough people to spread the money around and there are enough avenues to attract them.