6 ways NOT to pick a niche
In my 15 years of marketing I’ve heard a lot of bad advice.
From “Ignore YouTube” to “Email is dead”.
The below will likely take you in the wrong direction when picking a niche…
“Follow your passion”
How many people do you know make a living from their passion?
…Not saying it’s impossible but I’d guess like 1% make it work.
Another question to ask yourself: if your passion becomes your job - will it stay your passion?
Use Google Trends
Trend or fad? Unfortunately the only way to tell is in hindsight.
“You are the niche”
If you’re already famous or well known? Maybe this could work.
But it seems like the only people who say this, made it, and have survivor bias.
Keyword suggestion tools
Similar to trends. You can’t tell if the search term is a trend or fad.
Also, just because something is searched for a lot?
…Doesn’t mean there’s much (if any) money to be made.
“Experiment until you find what sticks”
This can work on X or LinkedIn since it has discovery possibilities.
Unfortunately, ‘what sticks’, is just as likely to be something that polarizes instead of monetizes.
Pick based on magazines
The idea used to be - if there was a magazine about it, there were companies willing to advertise, and therefore had a way to make money.
It works. You just need a dozen employees cold calling companies to make ad sales.
Sam Parr who started “The Hustle” said he had 2-3 writers and 15-20 sales people.
Most magazines also focus on hobbies.
Like we talked about Tuesday…
When money gets tight? Hobbies are some of the first nice-to-haves cut.
What doesn’t get cut?
There are 3 areas people will spend money on…
…No matter what the economy is like…
Tomorrow I’m giving Side Hustle Club VIPs a list of 237 niches inside those 3 areas.
… I’ll also be showing those folks how to pick a profitable an Anti-Fragile niche…
Plus, how to make sales without being an expert.
Expertise is great - if you’ve got it…
… But if you know what I’m showing tomorrow?...
You can be brand new to the niche and still have people paying to hear from you.
===> Join Side Hustle Club VIPs now and be the first tomorrow 10/18 to get access.
In your corner,
James Foster
PS - Incase you missed Tuesday’s email? I’ll add it below:
All niche markets are NOT created equal.
James here.
While I’m not saying we’re headed for a recession…
It doesn’t hurt to make decisions assuming we are (or will be soon).
Why?
To be Anti-Fragile.
So no matter what’s happening in the world - what we write about keeps buyer’s focus.
I’m gonna let you in on a secret…
...Something you’ll never hear talked about…
Luxury brands like Hermes, Prada, and Rolex take HUGE hits in a down economy.
They act like they don’t…
…Adding velvet ropes outside their stores to make it seem like they only let in select people (instead of because few have extra cash to shop there).
The reality is…
Most luxury brands only survive because they build large cash reserves in the good times to weather the rest of the time.
So I ask…
Which would you rather write and build a side hustle around?
A Nice-to-have like luxuries or hobbies.
-Or-
A Need.
Niches that get people’s dollars and attention regardless of what the economy is doing.
Dunno about you?
Relying on people to keep buying “how to play guitar” courses when they’re worried their job’ll still be around in a few months...
Isn’t for me.
Which is why Nice-to-have niches are the worst topics to write about, IMHO.
On Friday 10/18 I’ll be dropping a guide on How to Pick an Anti-Fragile Writing Niche to all VIP Side Hustle Clubs members.
It’ll be all about picking a Need niche you can count on.
Recession or not - these are niches people pay to hear about.
If you’re unsure what niche to enter?
This guide will make it clear.
In your corner,
James Foster
Gently click the button below to join.
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I can verify that my toy collecting hobby took a back seat when the money got tight. Even had to liquidate some of it. Now I'm super picky about what toys I'll drop money on. The whole community of toy collectors are going through the same thing.