When you’re just starting out with niche marketing, then it really is a good question to ask. How many niches should you go into?
Is it better to start out in one niche and just focus exclusively on that one thing?
Or should you expect go into many different niches and diversify your portfolio of niche markets so to speak?
The answer, as so often, is that it really depends upon your situation, your abilities, your resources and what you want to do.
Spreading yourself thin, going broad, going horizontal, going into many different niches, all of that can be good, and can be bad. It really depends.
I would say the most important question that you have to ask yourself is why do you go into this niche marketing business? Is it to make money? Is it to build your own brand?
In most cases, you’re probably going into niche marketing because you want to build yourself an income that can provide for you, your family, your lifestyle. And in that case I suggest that when you start the very first time that you start with one niche. But don’t focus too long and that one niche. Start with that one niche just so that you get a little bit of experience. Start with the one niche so that you understand the process that is involved. Start with one niche so that you have done the steps that are involved in starting a niche business long time already, and that you already have some real life experience under your belt.
That one first niche does not have to become a million dollar business. It does not even have to become a $10,000 business. In fact, I suggest that you came at $100 with your first niche. Because those $100 are usually the hardest. After wards it only gets easier.
And that makes it very important that you choose your first niche wisely. That you do your due diligence. Go into a niche that has proven itself to be profitable. Again, it’s about the art and science of finding your niche.
But why do I want you to start with one niche and build up just to around $100? Why not 1000? Why not 10,000 or 100,000?
Because maybe the first niche that you go into is actually a bad niche. A niche where it’s harder to make money. That is very possible.
Once you have gone to your first niche, and you have really created a website and have promoted it and you’re getting traffic and you’re starting to make some money and you are getting newsletter subscribers to your e-mail list, then I suggest you look for a second niche to add to your portfolio of niches. And now that you have some experience under your belt, now that you have actually done the process one time, you will be a lot smarter. No matter how much you prepare yourself, no matter how much you eat, how many home study courses you go through, the best teacher is still experience. So just go through the process one time, that the small micro-niche business and once you make a little bit of money with it Micronesia business, go to another niche. And after that go into another niche again after that go into another niche again.
Why am I telling you to go into different niches?
I’m telling you to go to different niches, because that is the best way to really learn how marketing works. If you just stay in one niche, then you kind of become an expert. An expert on your niche subject and you develop a local niche expertise. But it is very possible that instead of focusing on the marketing, you then start to focus too much on your niche expertise and on the niche communities and all the things that don’t necessarily make money. And this can keep you very busy without really contributing to growing your business.
In fact the reason why I wanted you to start with one niche is just so that you went through the process one time. The next step is to try different niches in different markets. In the step after that is to look at the different niches and markets in which you have a small micro-niche businesses and see which one is best for you. For example, looking back you can say: “Okay I invested 100 hours in doing this, and this is how much money I made. And then I invested 50 hours in this, and I made the same amount of money. And then I invested 50 hours and that, and I made the same amount of money, but I had a lot more fun because the topic itself is something that interests me.”
Once you have found a niche where you have a proven track record, even if it is just having made $500, and you like that niche, you like the niche topic, and you see that there’s more potential, then focus more on that and see if you can find some niches are related niches to that one. Because after you have spread yourself thin, and gotten experience in many different markets, now it’s again time to focus and to go into the verticals. Choose one vertical and really start to dominate that. Choose one vertical and be the 800 pound gorilla in that niche market. And then you will make a lot of money.