✹ Build your digital product business -> Create Once, Sell Forever (LIVE)
Modest Mitkus
March 23, 2024

How to Find a Profitable Niche (That Actually Makes Money)

Everyone is saying, "P your niche."

But nobody explains how to actually do it. How do you know which one is worth your time? How do you know if it's going to be profitable? There are so many questions and so few answers for the problem that many people face.

Today, I would like to give you my 7-step framework on how to pick a profitable niche.

Let's dive in.

Step 1: Search.

Start by checking what other people are currently selling or promoting. You can explore platforms such as social media, Product Hunt, and Gumroad to find their landing pages and gather information about the number of sales and reviews.

This will help you gather as many ideas as possible and gain insights into the current market trends and popular products in your search for a profitable niche.

Step 2: Research with Google Trends.

Google Trends is a valuable tool because it allows you to see the popularity of specific search terms over time.

By listing your ideas and searching for upward trends, you can identify emerging topics and potential profitable niches. It is important to take thorough notes on your findings to track and analyze the data effectively.

Step 3: Do more research.

In addition to Google Trends, there are other tools you can use to gather data and insights for finding a profitable niche. Exploring online forums and communities related to your potential niche can provide valuable information from discussions and user experiences.

Gathering as much data as possible through various sources will not only build trust in your decision-making but also save you time by making informed choices based on reliable information.

Step 4: Research competitors.

Once you have a few potential ideas, it's time to check if others are already selling them.

You can search for people on social media, Google, and other platforms to identify competitors in your chosen niche.

Try to understand their sales funnel, analyze the products they are selling, and gain insights into their overall strategy. This information will help you further refine your own approach and differentiate yourself in the market.

Step 5: Create an execution plan.

Compile everything into one simple plan.

Determine the distribution channels you will utilize, decide on the product or products you will sell, pricing of those products and more.

Creating an execution plan will help you establish a clear roadmap for your business and ensure that you are well-prepared to execute your strategies effectively.

Step 6: Create an MVP.

If you jump right into creating a paid product, it can be a time-consuming process that might not yield the desired results.

Instead, I recommend starting with a free product and distributing it through social media channels.

By doing so, you can effectively test the viability of your idea and gauge the level of demand before investing significant time and resources into developing a paid product.

Step 7: Kill or continue with the idea.

If you find that nobody is interested in your niche, don't get discouraged.

Remember, you can always try again. Persistence is key on this entrepreneurial journey.

However, if you notice a demand for your niche, congratulations! You've hit the jackpot. It's time to take action and go all in. Start executing your well-crafted plan and watch your business thrive.

Final words.

Let's imagine you actually took this as a sign and started taking action to find your niche. You followed my simple framework:

  1. Search.
  2. Research with Google Trends.
  3. Do more research.
  4. Research competitors.
  5. Create an execution plan.
  6. Create an MVP.
  7. Kill or continue with the idea.

You've done your search and research, and you know there is demand because you validated your idea with an MVP. You have a valid, profitable niche, and you're ready to go all in!

That's all for now. I hope you found this framework helpful.