You see the makers of monopoly have taken their product and created new niches from it. Why? Not for the [...]]]> Did You know that you can buy a Simpson’s edition of monopoly!
What’s wrong with plain old monopoly? Nothing as far as I’m concerned.
However which edition of monopoly would you choose for someone who was
an avid Simpson’s fan?

You see the makers of monopoly have taken their product and created
new niches from it. Why? Not for the usual reasons-The original market
was too large- they were already dominant anyway.

No the reason was to give the game appeal to more people by making
it more relevant and to ship more product and guess which one costs
more? Not only can they sell the niche edition for more money (
currently 3 Times) they also they get to sell more games.

Instead of a family having one monopoly game they now have several
according to the taste of each of the members.

Not only can you get a Simpson’s monopoly but also a Simpson’s Clue
(Cluedo) etc. Can you see the power behind this idea? A single product
is turned into multiple products but all based around a single central
theme—Monopoly.

—-In essence that is your
model for making niche websites

You start with a broad central theme e.g.-monopoly,
and split into smaller niches- Simpson’s, clue, lord of the rings etc-
you then build a site based around one of these i.e. a site dedicated
to Simpson’s monopoly.

Once this site is established you then repeat the process with
another niche until you have a cluster of niches all based around the
theme monopoly.

Doing it this way it is easier to become successful for each small
niche one at a time than to try for the entire theme-monopoly. If you
check Yahoo for the number of competing sites for each term this is
what you get:

• “Simpson’s monopoly” – 40,700  competing sites
• “monopoly”-         7,710,000  competing sites

Which one do you think is the easiest?

A good niche has too main features:

It isn’t [...]]]> Your Niche

This is probably the most important part of the entire process. There are many different website themes available but not all of them are suitable to base your online business around.

The Essence of a Good Niche

A good niche has too main features:

• You must enjoy it !
• It must have sufficient money making potential.

It isn’t the one that has the most money making potential. Many newcomers to niche websites go down the route encouraged by the GRQ (Get rich Quick Sites) of finding the latest high demand hot product and promoting it on a mini website using ppc (pay per click).

I’m not saying that you can’t make money with that approach but it certainly isn’t easy, and it isn’t a sustainable long term business model.

The approach I will be taking is to select a niche and build good content around it which you then monetize.

Therefore the niche you select must be one you can create content around. This means that you either already know lots about it or are sufficiently motivated to learn.

No Need to be an Expert or What is an Expert?

One of the most common problems people have is that they think they need to be an expert. The reality is that to be an expert you only need to know more than your website readers.

If some readers know more than you then they can either stop visiting or, if you let them, start contributing. In fact its possible to build a website that your readers provide the content for.

Getting Started

You may already know what you want to build your website around or you may have no idea. If you have no idea then take a look at how to find your ideal niche.

If you think you know already then you need to do some Niche research to make sure it is suitable.