How I Find a Profitable Niche in 5 Minutes

Most people are gonna hate this advice, but I don’t really care. The best way to find a profitable niche is to actually do something or pick something that you’re already interested in or that you already have knowledge about. I don’t think that that’s going to be profitable. How would I know? I need to do research instead.

But I strongly urge you not to do research. You can do all the research in the world, but only if you put the work in. Every niche can be profitable it’s not the keyword that does it, it’s you. You are the variable. Okay, so here’s what I want you to do.

I want you to go to every single room in your house and you’re going to write down every single product you see in that room.

That’s all you’re going to do. If you winna feel really fancy, get a “Moleskine.” Pay (bleep) $20 for a “Moleskine,” or pay $2 for a “Mead” spiral notebook. This is what I like.

(bell ringing) Use this. The next thing you’re going to do is once you have this massive list of products that are all in your home, you’re going to categorize them into what makes sense. Once I have them all grouped into categories, then you’re going to cross out obviously dumb ones, or things that you have no confidence in speaking about, if I were to just ask you a random question, you would not be able to answer that.

For example, I have dumbbells in my room, but if you were like, “How many reps should I do on a squat thruster?” I don’t know.

I don’t even know terms. I would be like, “I have no idea.” So therefore, cross it out. But if you were like, “I’m looking for a business book to start my career and level up my email marketing skills”. I’d be like, “Oh, I got a million off the top of my head.” Boom. Highlight those. You’re probably gonna have one to three. If you have any more than three, you are absolutely lying to yourself. And that’s how you pick your niche.

But I wanna talk about analysis paralysis. You can basically talk yourself out of anything and you can do that by doing research. Don’t do that because what’s going to happen? One, I would go on the keyword research tool, and I’d be like, “Coffee, what do we got?” I would see way too many keywords, all with high difficulty, tons of competition, and I’d be like, “This is a saturated market.

I don’t winna do it. It seems too big.” Well, by that logic then, then there’s a lot of things that are saturated. So instead, you have to think, nothing is saturated.

Plus, if something’s saturated, doesn’t that mean there’s more juice to squeeze?

And if I keep doing this, is that weird? That’s my logic, which is like, okay, I would’ve never have started Money Lab because I’m like, oh, there’s a million freaking people talking about online business. A lot of scammers are talking about online business. Oh, I’m gonna lump myself in with those (bleep) holes? No, you just have to carve out your tone.

This is why it’s so important to go back to the beginning where we were talking about having those five steps to find a niche, something that you’re actually interested in that you can talk about unprompted, right? You just start fucking talking about it.

You’ll be able to develop your voice way faster and cut through all the noise when you’re ready to, you know, create content. The second outcome would be, ooh, there’s not that many keywords, you know, and they’re like kind of low competition. Maybe this is not going to be super lucrative.

Again, every niche can be profitable. The variable is not the keywords, the variable is not the topic, the variable is you. Are you willing to put in four plus years and more to do this? Pick the thing that’s going to be effortless for you to write about, make videos about, do a podcast about. If you’re not, you’re going to either get burned out or you’re going to just be like, ah, this isn’t working, and you’re going to get shiny object syndrome and you’re going to go start a bunch of other niche sites.

I’ve seen so many people in this industry like start up niche sites all the time. I see it all the time. The thing that I see time and time again, is like a very common thing, is that it takes about four years for it to pay off. It took me seven, but if I didn’t have shiny objects syndrome and I wasn’t such an idiot and like lazy sometimes, it would’ve taken me four. So, like think of it like you’re going to college, but instead, during those four years of college, you’re actually getting paid instead of, you know, going into debt, which I take that trade any day.

And essentially, I did take that trade ’cause I didn’t go to college. And if you’re watching this and you’re like, “I just winna make money fast,” you know, then you’re watching the wrong thing. Like, this is not for you. The power of one, one thing. It makes sense to be like I want to start a niche site or I winna start a business, but I’m not sure if this business is going to work and I’m not sure if this topic is the right one for me.

So, you’re like, “I’m going to start 10 different niche sites and then one of them is going to pay off and then that’s the one I’ll go with.” That’s diversification. That’s what investors do. That makes total sense. But in this particular world, it makes no sense.

You don’t diversify the businesses, diversify the income stream in that topic. That’s what I wish I would have done in 2006, was just focus on Swim University, all in, everything I got, money, time, effort, everything. I would be way farther than I am today. That’s just the truth. Focusing on one thing is super important, right?

Let’s just take Swim University, for example. I mean, I’ll pull it up again just so you could see it. We talk about pool care, we talk about hot tub care, now we talk about INTEX pools, which are like these quick blow up pools, we talk about stock tank pools, we talk about swim spas, we talk about multiple topics, multiple niches in one brand.

One of the other reasons you might be struggling with picking a niche. You want a broad brand and a narrow niche.

So, let’s just take this idea and go, okay, I could’ve called it Pool University. And people even today have emailed me like, “Why didn’t you call it Pool University?” I’m like, “You idiot.” Had I called it Pool University, I would only be able to talk about pools. So I thought all the way back in 2004 when I came up with the names for university, I had the foresight to say, “Okay, well, what if I winna talk about hot tubs, or what if I winna talk about swimming or what if I winna help pool businesses, or what if I winna help hot tub, you know, contractors?

Like, what if I winna talk about multiple topics other than just swimming pools?” I winna leave you with one thing.

If you’re starting a business or even if you’re starting like another niche site, which again, like, I have three, so like here I am saying like the power of one. Well, I have three. What is this all to say?

This is all to say that the perfect niche was inside of you all along. And that’s it. So, I’ll see you in the next one.

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