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How to Choose a Profitable Online Business Niche in 2024

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Pick a profitable online business niche in 2018
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What online business niche are you planning to focus your attention on in 2024?

How did you come to the conclusion that the online business niche you’ve chosen for yourself in 2024 is a profitable one? What data analysis did you use to arrive at?

One thing is pretty simple. And that is, finding a profitable niche to invest your time, energy, creativity and money can be very challenging. That’s why a lot of folks who go into a business struggle to break even or utterly get frustrated out of business.

Startup founders also agree to this that 9 out of every 10 startups fail. So if you want to fail, fail fast.

If you want to make a laudable and significant impact in business, it’s important you have a niche. You can’t afford to be everything to everybody and still expect to stand out.

In this blog post, I will be teaching you the exact step-by-step guide you can take to pick a profitable niche in 2024. There’s no fluff here. Everything is straight to the point.

Pick a profitable online business niche in 2018

Let’s dive right in.

Important Facts to Consider When Picking a Profitable Niche for Your Online Business

Fact #1: Common Problem-Driven Choice

When you observe that people within your sphere of influence are facing a common challenge, it’s a pointer that you can make a shitload of money if you position yourself or your product as the solution they need.

As long as the world is never devoid of problems, people will never stop spending. And as long as people will never stop spending, there will always be money in circulation.

But the sad news is, this money will only get into the hands of those whose niche is solving more problems.

If you have been taking chances in the past years, 2024 is the year you must cease doing that. Make sure the niche you have chosen to pursue an online business career in will solve a specific problem.

Fact #2: Embarrassing Problems with Scarce Solution

No matter how much people hate to hear your name, if you’ve got the solution they are desperately seeking, they will humble themselves and patronize your service.

If you are thinking of picking a profitable niche to start an online business, in 2024, you can also choose from any of the embarrassing problems people have that you can proffer a lasting solution to.

You might be wondering, what are embarrassing problems?

Embarrassing problems are self-esteem-sailing challenges people have that they will be so ashamed to let the next person know about it. It’s so embarrassing that merely discussing it can make friends or partners lose their respect for you. A few examples include: being financially broke, having low sperm count, mouth odour, etc.

People having such problems can do anything within their power to get a solution for it if it does exist. Now, think of being in an online business niche that can get rid of that. It will make you great sales in 2024.

Fact #3: Expert Knowledge

Where have you worked in the past? What level of exposure have you garnered in the course of working in that company? Are they people you know hoping to be where you are at the moment? Is there something you can teach them to help shorten the learning curve?

If you answered, yes to any of these questions then this is for you.

You need not look further. The niche you need to run a profitable online business is already here staring at you. What you should be thinking now are ways you can transform what you know into a product.

Facebook marketing, copywriting, chatbot setup, web development, blogging, search engine optimization, etc. are powerful skills that you learn today that will go a long way in helping you take over 2024 very easily.

Take Note of This

What we have explained here are just 3 out of 7 facts you should consider when picking a profitable niche as outlined in my book. Above all, this ebook will teach in 7 practical steps what you can do to create your first digital product in 7 days even if you’ve never written a 400 words essay all your life.

If you are yet to read, Cracking the Information Product Code, now is the time to do so.

After choosing a niche, here’s what you should do right away.

Head to NameCheap to buy your domain, host it on Siteground and get the best WordPress theme for yourself from Themeforest.

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Emenike Emmanuel is a multiple award-winning blogger, CEO of Entrepreneur Business Blog, Chief Evangelist of Ebusinessroom Ventures, and the Lead Coach of an online community of over 12,000 business owners called, The Excellent Entrepreneurs' Network. He’s here to help you start, manage and grow a profitable and sustainable business using digital marketing strategies. Follow him on Facebook, Twitter, Instagram, LinkedIn & Pinterest with this handle, @emenikeng. Telegram group - t.me/yourfirst1000 | Email: [email protected]

6 COMMENTS

  1. Hey Emenike.

    It’s truly a great post. Though I don’t have any plan to start an online business now, but still I like this. I have seen many people who troubling to find the online business niche that gives some profits to them. In Quora many people put these kinda questions, even in the blogging field many people are puzzled about the niche, even though they have amazing writing skills etc but still they are quite confused what they should write about..
    Really it is a good post, Thank you so much for the share.

    Maria.

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