Choosing a New Niche | The Process in Action

Choosing a New NicheAre you looking for a new niche? Are you having a hard time getting past this important step in the internet business launch process? Understandably, niche selection can be a daunting task…but it doesn’t need to be. We find that people put to much pressure on themselves when choosing their first niche.

We were excited this week when we saw on of our Academy members, Mark Mason, openly sharing his thoughts in the Mastermind Forums as he applies our niche brainstorming process. It’s a great example of letting the process just flow with the confidence that the right niche idea will manifest itself. We were even more excited when we saw the enthusiastic feedback and support he’s receiving from the other Mastermind Community members. Here’s what he wrote.

Bottom Line: I thought it might be neat to “think out loud” right here inside the Academy as I identify my next niche web business.
Goal: Define a new niche for Mark and launch a small site by 10/31/08
Status: Niche Brainstorming

Back Story: I have been having some success in the Internet Marketing and Make Money Online niches, but I really want to identify a new non-IM niche to work in. I am really jealous of the cool niches that rondavis, snoonan and others have identified. I want to align my interests, skills and Definite Major Purpose with a new niche. I don’t plan to get out of IM. Just looking to expand into something that interests me.

Edit — I am also really jealous of johnwtuggle since I really want to be a better guitar player.

Problem is, I have no idea right now what it would be.

So, I was thinking I could just have an open discussion right here in this thread for a couple of weeks and get some feedback as I move through the “niche identification” material from Sterling and Jay.

The first step in our ten-step process is to look at your own expertise, interests, hobbies, etc. Mark dove into this step and just started freely listing the ideas that came to him without editing himself or worrying about each one. The idea here is quantity. Just get the ideas out. Here’s his list.

Here is my brainstorming list of everything I can think of about myself. Ready….go!

  • I am a student of internet marketing.
  • I am an electrical engineer by training.
  • I am pretty good at math
  • I am a pretty good teacher
  • I am an accomplished public speaker (for an engineer)
  • I work in the semiconductor industry in the area of semiconductor lithography
  • I am married with kids (boys and girls) and I have been divorced
  • I have been trying to loose 25 pounds for 15 years (LOL)
  • I like music
  • I am a crummy guitar player and wish I was better.
  • I can sing (opinions vary)
  • I am a total and complete gadget junkie.
  • I love cell phones and computers.
  • I have rebuilt classic cars
  • I know several programming languages.
  • I have been to many different countries on business
  • I love Texas A&M University in general, especially the football program
  • I love my RIM BlackBerry
  • I am a student of personal finance (but not very disciplined)
  • I like books like $ Hour Work Week, Seven Habits, GTD, etc.
  • I am always struggling with time management and focus
  • I work hard
  • I know a ton of stuff about personal computers and computer software.
  • I love to help people.
  • I love the Dallas Cowboys
  • I love to read spy novels when I have time (seldom)
  • I have a long driving commute in Dallas
  • I live in and around Dallas
  • I have an internet marketing website
  • I have an internet marketing product
  • I like to cook when I have time (seldom)
  • I know how to repair most household things (plumbing, electrical, sprinklers, etc)
  • I like wine.

This is a fine list. Lots of good gems in there. I replied in the forum and told him the ones that stood out to me.

  • I am a total and complete gadget junkie.
  • I have rebuilt classic cars
  • I love my RIM BlackBerry
  • I know a ton of stuff about personal computers and computer software.
  • I live in and around Dallas
  • I know how to repair most household things (plumbing, electrical, sprinklers, etc)

Here are the main points I hope you glean from this.

  1. Just put pen to paper and start writing all the ideas that come to mind
  2. Don’t edit your ideas as you go. Get them all out. Quantity is key here.
  3. It doesn’t have to be as tough as it may feel. We know it can seem daunting, but it is so easy to launch and prove ideas on the Internet that it is is always best to start NOW.
  4. The Academy Mastermind Forums are an excellent place to find the support and ideas you need when you hit important steps like choosing your niche.

    If you are a member and haven’t posted yet, we strongly recommend that you do so. The tone in the community is super helpful. Everyone is helping each other to reach the same goals.

    If you’re not a member yet, then now would be a great time to join.

We look forward to seeing where Mark goes with his brainstorming process. He plans to document and share the whole thing with the Academy Mastermind Forums. Thanks, Mark, for being willing to put yourself out there and share your exdperience with the community!

Take Action

  1. If you’re looking for a new niche, sit down with a pen and paper and spend 15 minutes listing as many ideas as you can. Think over your interests, epxertise and hobbies. Don’t edit anything out. If it comes to mind, write it down.

What Do You Think?

  • How do you brainstorm new niche ideas?
  • How do you capture these ideas (e.g. mind map, notebook, Google Doc, etc.)?
  • What is your biggest concern about brainstorming new niches?

Comments

  1. Great idea to go through the process for us all to follow.
    I enjoyed listening to Mark when you had him on the podcast a while back and I will definately be keen to follow his progress with this.

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