OK so today’s home based business and marketing question comes from Danielle and she wants to know :
“I have been studying up on Internet marketing and how to earn an income online for about four months now. I have done a few things here and there not much. The things I am passionate about are niches that don’t make a lot of money (at least that is what I think). For instance coupons and being frugal, sweepstakes (people who want to get things free) and genealogy! So how do I settle for a niche that I am passionate about that won’t make me a lot of profit or do I find a niche that will be profitable that I don’t love? Hope this isn’t to complicated!“
OK Danielle I think I understand what you’re asking…
You want to know if it’s better to pick a niche you’re passionate about and love and might not make a ton of money over a niche where you could make a nice little chunk of change.
Am I right?
Well this is a little tricky and I’m sure a ton of folks will have an opinion on this one but this is my post so I get to go first! 🙂
Here’s my advice to you….What is it you want from you home based business?
Are you looking to make a steady income online and start a business or are you looking for a hobby?
If you are hoping to earn an income from your online adventures I’d suggest finding a niche where you know people are already making money.
Now if you can find a niche you love and make money that’s a great but not always possible.
For instance, I love drinking beer and watching baseball but I’m pretty sure nobody will send me a check every month to do this, see what I mean?
Now I depend on my online endeavors to pay the bills and put food on the table so I must find paying niches regardless if I love them or not.
It’s great if I am interested in the topic but it’s not necessary.
Again, it can help your be work more fun and enjoyable if you love your niche but I found I got over this pretty quickly as the checks started to roll in.
Here’s another example, I love BBQ!
You know, real southern slow cooked BBQ so I decided to start a paid membership site around BBQ called BBQFreaks.com.
Now there were already a bunch of FREE BBQ websites out there but I thought if I jazzed it up with some interviews and some other cool stuff I’d make a killing….
Boy was I wrong…I soon found folks just don’t spend money on this kind of stuff.
BBQ is more of a blue collar hobby and BBQ enthusiasts spend money on their meat, rubs and sauces….Not website membership sites!
However, I still maintain this site, I made it free for folks to join and I make a couple hundred bucks every month from affiliate commission checks from my Amazon Store.
And now, I focus on niches where I know I can make money!
So hope this helps you with your decision.
So please, I’d love to hear from you and what you think of this topic…Do you pick niches where you can make money or niches you love and are inspired by?
Now get busy, Bill Parlaman
P.S. If you like my Friday Q&A segment where I answer you home based business questions make sure you keep sending them in!
Remember…I depend on you for your questions!