Massive Niche Idea Generation

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You’ll need to grab a pen and paper for this step, writing on the computer can hamper your creativity and the objective of this step is to create as many ideas as possible!

So we are going to use various different techniques to uncover a wide range of niches, which we are then going to narrow down before we move on to the second step.
 
1. Looking inside yourself

So the first thing we are going do, is a quick assessment of your expertise and the niches that you have experience and knowledge of, you might be surprised at just how many different niches that this brings up.

Grab your paper turn it on its side and make four columns on it, title the first ‘hobbies’, the second ‘bills’, the third ‘skills’, and the fourth ‘jobs.’

Now you need to write down as many things as you can under each heading, for hobbies then that will be all your interests – dancing, poker, knitting, whatever.

For bills that is anything you pay out for each month – subscriptions, gas, electric, broadband, magazines, you name it.
 
For skills then that is anything that you can do which not everybody else can, for instance caring for rose bushes, refereeing maybe? Maybe you can fix cars, paint, write well, anything like that would be a skill that you can put down in this column.

Then finally for the jobs column then just list all of the previous positions you’ve held in your life.

Take 10 minutes and write as many as you can without thinking about whether they are good or not! All of them could be potential niches (like if you have spent hours hunting round to get the best deal on your electric bill, then you probably know a lot more than most people about what is on offer and you could make a website that compares the different packages).
 
2. Looking inside your friends

Sometimes it is good to rope your friends in too, either try to think of all the things that your friends do for fun, or that they spend lots of money on, even ask them directly what they like to buy or have to buy all the time.

For instance you might have a friend with a dog and they’ll say they spend a fortune on toys and vet bills… that gives you a market and two niches right there, dog health and dog toys, and you know people are passionate about pets (a passionate niche!).

Or you could have friends into scuba diving, scrapbooking, martial arts. We all have different hobbies and interests and this is a great way to get ideas from people who have experience in them and can tell you if they buy multiple products etc.