There is a ridiculous number of ways to make money from home. However, it’s often hard to tell the legit opportunities from the frauds. Likewise, it’s hard to tell the difference between opportunities that will make you pennies and opportunities that will make you serious cash. Bank to Blank focuses solely on opportunities that will enable you to make money from home or anywhere else you choose to be. We’re not going to waste your time filling out cheap surveys or completing captchas. Honestly, you’re time is much too valuable for that.
We’re here to talk about how you can legitimately replace your nine to five jobs with an online income that’s reliable. We’re here to talk about not only covering the bills, but having money left over to travel and live life the way it’s meant to be lived.
Making money online may sound difficult. Heck, you may have even read or heard that it’s difficult – and maybe even impossible. Truthfully, online money making process is extremely simplistic. However, there are a couple of things that you need to do in order to make money online. In this article, we’ll break each of them down
First Things First: Find a Profitable Niche
There’s an old saying that goes: if you fail to prepare, you prepare to fail. This rings true when it comes to finding a profitable niche to make money from home. Once you identify a profitable niche, you are well on your way to making money online. So, how do you find a profitable niche?
There are quite a few different schools of thought when it comes to finding a profitable niche to develop your business around and make money from home. Some will say that you shouldn’t compete in large markets because you’re competing with companies that have multi-million dollar marketing budgets. Others will argue that companies with multi-million dollar marketing budgets aren’t spending their money in markets that aren’t generating a profit. So, this is a dead giveaway that the market is profitable. These people will argue that a very small market share of a large market is more profitable than a large market share of a small niche.
Initially, it all boils down to what is right for you! That’s right; the right business will be determined by what is right for you and your skill set. Nobody knows your strengths, weaknesses, abilities, and desires better than you do. To find a profitable niche, you need to start by brainstorming. Be true to yourself and realistic. You want to identify any and all potential markets or niches that you’re able to provide your customers with value. Here are a few questions to consider:
- What topics do I know about?
- What could I teach others?
- What type of business do I want?
- What information do I share with others?
- What group(s) of people do I identify with?
- What are my overall strengths and weaknesses?
Answering these six questions will put you well on your way to having a list of viable markets and niches and ready to make money from home. Scrutinize your list, think of related niches and utilize Google and Google’s Keyword Planner to find related topics and keywords.
Make Sure the Niche is Viable: Find the Problem and Create the Solution
The one thing that every single person on this planet pays for is a solution to a problem. If you experience engine trouble, you pay a mechanic to fix it. If you want to further your education, you pay a college to take a class. Whether it’s a tangible product, an electronic product, or a service, the ultimate goal is to develop a solution to a problem.
Now, you may ask, what if there’s already a solution to the problem available. To that, I say “good!!!” Do you know why? If there is a solution to the problem that’s already for sale, then that means you’ve found a profitable niche. Trust me; people are not out there selling products that are not returning profits.
However, if you’d like to further confirm that profits are there to be made, give Amazon a shot. See if you can find the product that solves the problem on Amazon. That’s further confirmation that there’s money to be made. As a side note, you can also use Amazon to drill down to find profitable niches. Select a market such as “Toys, Kids, and Babies” then select “Babies” then “Maternity”… And continue to drill down through the options. You’ll find a ridiculous amount of ideas!
Back to the problem at hand, if there is already a product on the market that is capturing market share, how can you compete? The answer is very obvious. Simply brainstorm, what can you do to make the product better? Can you provide more information? How can you provide better, or more precise, information? Can you provide a similar product in a different format? Every product can be improved upon; you just have to find what’s missing. If you think you’ve found a potential winner, it will probably be worth it to buy the product. Take it for a test drive and see what it’s made of. However, don’t rip off another’s hard work. Be sure to develop your own unique solution and set yourself apart.
If there are no products or services available to solve a problem, then there is a very good chance that people aren’t willing to pay for a solution. Or that someone has captured a large market share with a free product. However, there’s a slight chance that you’ve found an untapped niche. So, always do your due diligence.
The Next Level: Find a Hacking Opportunity
What if I told you that finding a profitable product online could be a goldmine for you? You see, while you’re doing market research, you’ll come across solid businesses that have established themselves. They may not have many weaknesses but they have something else. Something that’s more valuable to you… a buyers list.
If you come across a business that’s established, look at ways that you can create a complimentary product to theirs. A product that would greatly benefit a customer that purchases their product will greatly benefit them and you as well. This is a joint venture dream.
You can create your own site and offer their product as an upsell and vice versa. Meaning, you’re both instantly growing your potential income without having to create additional products or services. In my opinion, this is the perfect storm.
Are you ready to make money from home? There’s nothing standing in your way except yourself. It’s time to build a business that you’re proud of and live the life that you’ve imagined.