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Also Article For home based business opportunity seekers:
Looking to choosing the right work at home business
There is a important step to take after figuring out what a niche market is (see previous article "What Is a Niche Market Anyway?"). This step is finding a niche that is profitable. With a niche that is not profitable, a home based business will not last long. Let's discover how to find a profitable niche.
Step #1: Take a trip to your local library, Books A Million, Borders, or the like.
Step #2: Jot down topics that you observe with "How To" books like the "For Dummies" series.
Step#3: Look for books that are bestsellers year in and year out. Examples include job hunting books, sales letter books, self-improvement books, etc. Write down potential niche markets based on your research. For example, maybe you could write an ebook about tips on writing a business plan for real estate investors.
Step #4: Browse the magazine racks and take note of hobby related magazines.
Keep in mind that you are looking for a niche market that is:
1) Easily reached (if they have a magazine you can reach them)
2) Isn't so large that the field is crammed with competitors
3) Willing to spend money. You can check out the ads in hobby and trade magazines to discover the prices of objects of interests for a particular niche market.
4) Crazy and passionate about their hobby or interest. If someome actually creates a magazine, they typically are passionate!
Niche markets that I've seen by looking at the magazine racks are scrapbookers, quilting, collectibles collectors, and boat owners.
Always remember, you are building a foundation by looking for a market that is trying to buy a product or service.
A way to check out how many people are actually searching for a item or activity is to use keyword tools such as the Overture Suggestion tool at http://www.inventory.overture.com/, nichebot.com, Wordtracker.com. and Good Keywords.
Once you are in one of these sites, type in the following word "tutorial" and then copy and paste the results on a Excel spreadsheet.
Then, type in "guide" and copy and paste the results on a Excel spreadsheet as well.
There will be a huge amount of results which will show you exactly what people are trying to find related to "guides", "how to", and "tutorials"; in other words, you will see the exact information they are seeking. Once you know this, your job simply is then to offer them a product or service that will meet their need.
When the lists are developed, make note of potential products such as a guide on "how to plan a vacation". Other great words to use are "buy", "purchase", "learn", "problem", "want", etc. You will be amazed at the results.
Follow the above tips and be well on your way to targeting a highly profitable niche market.