Identify a Pressing Problem within Your Niche

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The key to making money from your niche is to identify some existing problems that need solutions. If you can identify a problem that really hurts people, this will become your entrance point into your niche.

By definition, your niche will be something you’re knowledgeable and passionate about. That means you will probably already know what the most pressing problems are in that field. If you don’t, or if you want to validate your gut feelings, there are several ways to research problems:

As mentioned, spend time in online forums where like-minded people communicate with each other. Watch and observe.

Interview an expert in the industry.

Read trade magazines or journals that cover this industry.

Get some hands-on personal experience.

Most times, identifying pressing problems won’t be hard. You’ll probably be able to come up with a decent list of potential problems in an hour or less if you know your niche inside and out.

If you’re having trouble putting your finger on the most pressing problems in your niche, consider forming a small mastermind group to help you work through things. Ideally, this type of group should have five or six people, each of whom you know you know and respect. Get the people in your mastermind group to look at the niche with fresh eyes. Their outsider’s perspective may be able to help you uncover problems that are sitting right in front of you but that you cannot see for one reason or another.

Don’t be put off if there already seem to be a lot of people who are offering their solutions to some clear problem in your niche. That simply validates the fact that a sizable market opportunity exists. If you can create some kind of solution that tells your solution in your voice, it will stand out because people will recognize it as genuine rather than contrived.

Whatever you do, keep things simple:

Identify an obvious and pressing problem.

Develop a solution that is genuine and authentic.

Find ways to tell people about your solution.

Don’t try to develop products that will impress the experts in your field. They aren’t going to buy what you have to offer because they have their own ideas about how to put together a solution. Instead, develop products that will appeal directly to the non-specialists.

Don’t let the quest for perfection stand in the way of building your Portable Empire. Even if you don’t have anything new to say, the fact that you’re saying it in your voice is going to make it interesting. As long as you’re telling your story honestly, people are going to want to hear it. The only mistake you can make is to not start now.

–Pat O’Bryan

There’s no need to try and reinvent the wheel. You can just see what’s working for other people and innovate. That’s much better way to do things. Find your topic and then ask yourself, ‘What do I know’ or ‘Who do I know that knows something about this topic? ‘Solve those problems and sell the solutions.

–Craig Perrine