I built a Niche site already, but I think I did an awful job at it. I’ve kept it 100% separate from SHD, because I wanted an honest assessment of how it was doing. In all fairness – I haven’t actually completely finished it (it’s a review site, and I am writing the reviews). That being said..I’m going to build a second Niche site. But there’s one difference with this one:
I’m going to share every detail with you guys in a series of posts. Everything.
The good, the bad, the ugly. It’ll all be in this series of posts. For today’s post, I’m going to discuss the intent behind this goal, and my process for picking a Niche. Before we start with that, I want to begin with stating a clear goal that I think is totally attainable:
Goal: $250/mo in totally passive income
I’m not trying to get rich on this new site. But I do want it to be profitable. I expect startup costs to be less than $15, so technically I don’t need to make a lot to be profitable, but I want it to fit in with my other goals (which include enough passive income to buy a beachfront home in Hawaii). Too often, I think people are focused on boiling the ocean. They want the next YouTube, or Google. They want a home run, when a single will do. The point is, I think that 4 sites that earns $250/mo is much more attainable than a single site that earns $1000/mo. That’s not to say I’m building a bunch of sites (never say never!), but you get the point.
I expect that this income will primarily come from advertising programs and affiliate agreements – but it might be a little early to decide that. Today’s post is just about the idea.
Finding a Niche Site Idea
I define a Niche Site as a very specific website that solves or answers a very specific problem. The primary source of traffic will be google and other search engines, so I need to identify a problem that faces low competition, and where the competition that is there is weak. While my first site is still developing, I didn’t do nearly enough research on it as I would have liked. Because of that, I’m taking extra time to ensure I do ample research for this effort. Here’s some questions I’m asking myself, and you should too, if you’re looking to build a niche site:
- What problem can I solve, or question can I answer that is very specific – that people would Google the answer for?
- Homework: I’m going to come up with 10 niche ideas.
- What keywords are being searched for related to this problem?
- Homework: I’m going to come up with several keywords per idea.
- Out of the list of problems and keywords – which ones face low competition?
- Out of the low competition keywords, which have the weakest set of results in Google?
- (If they’re a newer site, and weaker – I should be able to outrank them and thus gain more traffic)
Protip: The Niche Guru is Spencer Haws @ NichePursuits.com – I cannot say enough good things about his site. Check it out.
I’ve got a LOT going on. Between SHD, and my other ventures, time is a scarce commodity for me – but this is really important. My goal is to have all of these questions answered By February 28th, 2017 (15 days, if you’re counting)- at which time I’ll report in with the answers in Part 2 of my Niche Site Experiment.
Stay tuned – this is going to be freaking awesome. In the meantime, hit me up on Twitter (@sidehustledad), or comment here on the blog, and say what’s up..I love the interaction with you all!
Until next time – get out there and kick some ass.