How To Generate An Endless Stream Of Niche Product Ideas

Generating niche product ideas require a certain amount of creativity; however, the steps that I outlined in this article could help you in your quest to locate new niche business ideas.Before you start to read the article, get a pocket notebook and a pen ready first because you may get some great niche ideas during your reading process.

1.Look at the objects around you and analyzing them

Looking around your house, the stuff you are using, your kitchen, the food you like to eat, your garden, your local park or shops or whenever you are out at a new place.

For example, when I look at my room, I see there are few antiques in the corner, then I got a new idea pop up - why not write a product about buying and selling antiques for profit?

2.Your own hobbies and passions

This is my favorite method for generating new niche product ideas because it is based on what you love to do; the things that you want to do instead of what you have to do.

Think about what subjects you like to talk about, or read about, or even you are very knowledgeable about.Then use five or ten minutes do your brainstorm and write them all down on your pocket notebook.Once you've brainstormed the list of your hobbies and passions, it is the time to think about how you could turn that into a product.

You can also generate new niche ideas by involve your friends and families, their passion and interests to dominate a certain micro-niche market.A micro-niche market is one that is very small in comparison to other markets.This kind of market is much easier to get in and penetrate than a broader niche and the customers are often more passionate and more willing to buy.

3.Utilize the power of media

Since the media have had an ever increasing affect on our lives and it can be used as an excellent tool for generating new product niche ideas.

Analyzing TV adverts, the program they are playing, analyzing current affairs, read magazine adverts, content and newspapers.You can quickly spot potentially lucrative niche markets.

Global warming, example, have been widely broadcast in the past few years, more and more people are trying to do their bit to help reduce the effects and emphasis on go green.You can easily do a research towards how to reduce global warming and save money in the process, compile it into an eBook and sell it for a lot of money.

4.Utilize the power of online tools

If you are interested to sell products on eBay, one method that will help you find out the niche and what is hot right now is using the eBay pulse.

The eBay pulse is identifies the keywords that have been searched most frequently on the eBay search engine.You can also use free keyword research tools from Google to find out the market trends.

Using online tools are a good way of identifying niche markets, which one are on the up and which niche markets are in decline.They also show you what events in the press will affect the major increases or decreases in search numbers.Those numbers help you identify how media speculation will affect that niche.

Finally, look at categories in a number of websites (like eBay or any directory sites) and see whether or not you can sub-categorize that niche and develop a site from there.Then click on a category that interests you, such as click on "Collectibles" and you will see there a load more sub-categories will pop up.This method can enable you conjure up a few more niche ideas.

After you done your niche ideas initial generating (let's say you got approximately 20-30 new niche ideas, possible many more), then put them into an Excel spreadsheet to start to analyzing your niche for profit potential.

Following are some example questions that you should ask during the process of your niche product ideas profitability analysis.

a) Is there any potential to create info products that people will want to buy?
b) Are your potential customers truly passionate about the subject?
c) Do they have money to spend?
d) Are there other list owners in your niche?
e) Are there competing products in the niches that you want to get in?
f) Are there affiliate programs that would be related to your potential niche product?

Alright, you done a number of potential niche ideas brainstorm, and you also evaluated their potential.It is the time for you to take action, start your first niche business and attack into that niche market.Once you see it success, and then just repeat the step above and start your second, third and fourth niche business to generate an endless stream income.

About the Author

Ann Liu, a certified professional Internet marketer and author of Online Profiting.

To learn how YOU too can succeed in Internet and affiliate marketing, please visit http://www.marketingbyann.com

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