How to select the best niche

STEP UP ACTION POINT NO. 1
Decide on your niche
I must make it clear that your niche is the subject matter of your business. It must be very specific, in fact, the more specialised it is, the more likely your success! If you work with a smaller more defined niche you are able to work out exactly what information they are wanting. In turn you will also build your own reputation as being an expert in that field. Also the large companies often ignore these smaller markets so you will have less competition. This, in effect, means that although you are targeting a smaller group, you will in fact make more sales as you are specialised in that market. Does that make sense to you?
What is a niche?
If you have a general interest in gardening, then that in itself is not a niche market, but an interest in Herb Gardening in Containers is a lot more specific, or if your interest lies in cars then you need to focus on one particular make and model of car. Perhaps you like arty-crafty things, then really narrow it down to one specific craft, for example, Making Vases from Beads. Obviously there are millions of niches out there but make sure it is something that YOU HAVE AN INTEREST IN, as you will find it so much easier to locate and generate products and books etc., if it is a matter close to your heart.
So to recap, in order to build yourself a business on the Internet, you need to know what group you are going to market to:
What interests you? What are your hobbies? You could use your previous work experiences to create an online business.
However if you really can't think what niche market would work for you then I suggest that you take a look at clickbank and browse their site for ideas.
The Sports and Leisure industry are generally good markets as are any subjects relating to Earning Money, Being Healthy and Relationships topics, but go and have a play around yourself. However I must stress that it is important to have an interest in the topic yourself. In fact if there is any particular subject you feel passionate about then that is a really good place to start. Your enthusiasm will came across in your information and that in turn will generate sales. I have a friend who is passionate about Vintage Tractors, (which has absolutely no appeal to me at all!) and as such has built a membership website. He has now built up a list of 1000 subscribers and only charges £18/annum to be a member of his site, but that in itself generates him £18000 - pretty good eh? Can you see that if you had several niche sites, how your income could grow?
Please don't worry that if you get too specific you will limit your sales. Remember that the Internet is massive. There are reportedly 1.3 billion people connected to the Web. You are not talking about limiting your sales to the village, town or even city where you live. Internet means global. Just think, very soon you will have your own International Business and all from the comfort of your own home. Fantastic!
Final Niche Note:
If you are interested in more than one thing (probable, I know!) then that is great, as immediately you have the potential for multiple income streams. This is how lots of people make money online, but to start with, just focus on one niche, then once you are established and know exactly how to do it, then you can start working with your other ideas.