The Niche Is the Thing That Catches the Profits

At this point we’ve determined that you have the right mindset and motivation to start and run an ecommerce store.

So, the next thing you need to do is pick a niche and product line.

This step is hugely important.

Because if you go running after a niche full of deadbeats and tire-kickers, your dreams are going to go up in smoke. If you pick a profitable niche but you screw up and choose the wrong product line, you’re going to waste a lot of time and money getting your business back on track.

So, here’s the thing…

You want to do it right the first time.

Now, when it comes to picking your niche, you have two goals:

1.    You need to pick something that interests you. Remember, you’re going to be working in this niche every day for years – if you’re lukewarm about it before you even get started, then you’re going to hate it in six months from now.

2.    You need to be sure the niche is profitable. No amount of passion can make a niche profitable if no one is buying what you’re selling. That’s why we’re going to make sure your passion can generate profits.

The good news is that it’s entirely possible to turn a passion into profits.

Take a look at these examples and feel inspired:

Here’s a store from an entrepreneur who took a strong brand and a niche idea, and turned it into a million-dollar store in less than a year:

http://www.beardbrand.com

Here’s another example of a small niche idea (that started out with leggings) took off like crazy and turned into a million-dollar venture:

https://blackmilkclothing.com/

Here’s someone who took a love for temporary tattoos and turned it into a thriving store that sells millions of these tattoos:

https://tattly.com/

Or about how about the guy who has a million-dollar business selling nothing but black socks with a unique “sockscription” business model? His website is, you guessed it: www.blacksocks.com.

Those are just a few examples. Just think of your favorite niche, and you’ll quickly find online stores that started as a dream for someone and turned into a profitable reality.

You’ll find people selling most everything under the sun, from jewelry to handmade greeting cards to caskets for pets to clothing to sports memorabilia to electronics to… well, I could go on and on.

If there is a market for an idea, then someone out there is probably making a lot money with it – and you can too.

TIP: Take note that several of the stores mentioned above are very nichified and specific (like black socks or temporary tattoos).  As we walk through the following steps of picking a niche and product line, you too will want to seek out something narrow. That’s because it’s easier to set up, promote and run a successful niche business that’s narrower rather than broader.