Six Simple Steps To Build A Highly Profitable Niche Business

Last week I received an email from James Penn. He mentioned an article that he wrote, called Six Simple Steps To Build A Highly Profitable Niche Business.

I checked it out and found this article quite valuable as it refers to the basics of doing business online. Hence I’m publishing this guest post.

Remarkable fact is, that James is a 19 year old university student from the UK, who earns a full time income online with just a part time effort!
James has been working in various niche markets for over five years now and teaches his system for creating unlimited income streams in red hot niche markets at Accelerated Niche Profits

I let James do the talking from here. Enjoy!

Six Simple Steps To Build A Highly Profitable Niche Business

Many marketers focus on ‘making money’ rather than building a ‘real business’.
By ‘making money’, I mean things like bum marketing that aren’t sustainable and that can’t be grown.
It’s important that you focus on growing a business now. A business selling products, with prospect lists, with buyer lists, with systems, and with the potential for growth and back-end income.

Online niche business
Photo Credit: DMahendra

In this article I’m going to reveal the simple steps you need to take to have your own profitable niche marketing business. Let’s get going…

Step 1: Niche Identification & Research
As always, the first step is to identify your niche, or your market. The number one characteristic your market should have is that there are already people buying products. With your business you’re going to be selling. Whether it be your own digital products, physical products, services, or someone else’s. That’s the way you make money so make sure the market you choose already has proven buyers.

Step 2: Product Creation
You’ve identified your market and hopefully you’ve researched the competition, potential partners, market trends, what your prospects want and all the rest. Now you can create your own product. I always recommend starting with a short, low priced report just to test the market and to build a list of buyers that you can profit from in the future.

One thing I will say on product creation is that the single most important thing is that you create quality. Competition is fierce online, and the only way you can stand out from the rest is by providing quality content for your prospects and buyers. Just take a look at the rise of Lee McIntyre in the last 6 months or so. Why has he become one of the most talked about internet marketers? Why has he been able to have 5 figure months after just a short time online? One reason – he provides quality. Not only for his buyers, but also for his free subscribers.

Step 3: Copywriting
I’ve only recently understood the power of copywriting. Copywriting is not limited to your sales page. Copywriting involves your sales message, your emails, your articles, the name of your product. Every aspect of your business should do something to persuade your prospect to invest in your products.

I have one short report on the market in the “beauty” niche. This is a big, passionate market. 3 months ago I was getting 500 visitors per month and 3 (yes, THREE!) sales per month at $10.

My sales page just didn’t have that WOW factor. It was beautifully structured and read fluently, but it didn’t grab attention, or persuade, or convince anyone why they should buy the product. Fast forward 3 months and after a little editing I’m now getting approximately 600 visitors per month and close to 35 sales. There’s still room to grow, but that’s a massive improvement. It’s important to learn basic copywriting principles if you are to be successful with this business model.

Step 4: Traffic Generation
You have your sales page, now you need traffic… and buyers. Driving traffic can be done in many different ways. There are creative methods, and there are your regular run of the mill type methods. I prefer the traditional article marketing, back links, joint ventures, SEO. I find this to bring the best quality of traffic and to be the best long-term strategy.

Again, the focus is on quality. You need to write quality articles, get links from quality sites, JV’s from quality partners. Everything about your business should ooze quality.

Step 5: Backend Profits
The main profits from this business model will come from the back-end. The short report should simply be used as a filter; to filter out the dead wood and the people who wouldn’t spend money with you anyway. What you’re left with are people that trust you, people that are able to (and comfortable) with buying products online, and – if you have provided quality – people that will buy from you again, and again, and AGAIN!

Here’s how the process should work:

  1. Prospect comes to your site, likes what she see’s and buys your short report for $10.
  2. Immediately after payment, she is redirected to the download page where she downloads her product and signs up for your list.
  3. You now send her emails (perhaps 2 per week). Sometimes you can pitch affiliate products and other products you develop, but most of the time you send her top quality content. Look after your subscribers, and the rest will take care of itself. This subscriber could be on your list for the next ten years. She could spend thousands of dollars with you. You could have thousands of subscribers that do the same. Do you see the potential?

Step 6: Grow Your Operation
You’ve created one short report now. You’re getting a lot of traffic, buyers and subscribers. Now it’s time to grow your operation. Create more short reports and get more people into your funnel. Create longer products that you can sell for more money. Create physical products that you can sell for three figure prices. Sell your expertise by mentoring a few subscribers for four figure prices. Host seminars and sell tickets for five figure prices.

This is how you build a business. Stop thinking small time with bum marketing and pay-per click affiliate marketing. That’s great if you want a few hundred dollars a week, but that’s not what you should be striving for.

I hope you’ve enjoyed this article. I certainly enjoyed writing it and it makes me excited just thinking about the possibilities.

Over and out
James Penn
http://www.AcceleratedNicheProfits.com

As you can see, James covered the basics of building a business online.
Comments?




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30 thoughts on “Six Simple Steps To Build A Highly Profitable Niche Business

  1. Marketing Minefield says:

    One alternative to step 2 (product creation) is to identify an affiliate product which converts well and promote that instead. It can also help to free up your time to promote your site as you don’t have to worry about generating and maintaining the product or dealing with customer queries.

  2. DSFlyman says:

    A short but sweet post. Thanks. We chose to start with a site about something we know and love, fly fishing. It has been a huge learning curve trying to figure out how to generate traffic and expand our goals. Every little bit helps.

    Thanks again,

    Paul

  3. tiling courses says:

    This article is invaluable for anyone trying to make money over the internet. I tried to do this whilst I was a student and failed. However, these tips really make sense and could enable anyone to make some cash via the internet.

    Nick Jones

  4. Wine says:

    Guest-star James,

    Thanks for that elegant and intelligent post! You remind me of a friend of mine who started super young as well, and now he is quite literally a millionaire. Really appreciate it.

    -HTMK

  5. Stu says:

    “Again, the focus is on quality. You need to write quality articles, get links from quality sites, JVs from quality partners. Everything about your business should ooze quality.”

    This is so true, rubbish in, rubbish rubbish results….

  6. Kaarten Trouwen says:

    I wished I had started my internet journey at 19 years. Interesting story and a good copy. I liked his writing. Does he have a blog?

  7. I have only recently learned the value of being serious about collecting email addresses. For a while I just thought it I could get enough traffic to a site I’d sell enough stuff. But I’ve heard for years that it takes multiple times (7 is what they usually say) of seeing your product before a viewer will buy. So getting in front of them by emailing them with quality content is really the only consistent way to do that.

  8. Utah says:

    Good content is the most important for driving traffic.

  9. Nolan the Cold Reading Guide says:

    Good points. Remember though, the “product” isn’t as important as the benefits it will give your prospects. So it doesn’t matter if it’s a book, an ebook, audio, etc. Stress an unusual, but desirable, benefit and you’ll sell a ton. And the better the benefit, the better prices you’ll get.
    http://blog.coldreadingtechniques.com

  10. Manny C. says:

    Thanks,
    That is great insight in how to build a niche Business. You pretty much explained it in a simple way that even I can understand. This is a great article and I enjoyed it very much. I am going to use this 6 steps to my advantage. once again great article.

    Thanks,

    Manny C.

  11. Karl Foxley says:

    You raise some key principles to starting and growing a successful business online.

    The fundamentals of a good business often become an oversight when we hit the online world where their seems to be a new money making system and business strategy hitting the market everyday. You’ll often find more success by following the sort tips found above and sticking to your business plan…

    Regards,

    Karl

  12. Rofikul Islam Shahin says:

    Good post, it’s been just a few weeks since I started reading about affiliate stuff, and I must say it’s a good article. Thanks to you and James both. Keep up the good work.

    -Rofikul Islam Shahin

  13. Brian says:

    Hi James,

    I currently work for a web etailer that focuses on several different retail niches and for the most part has been rather successful. I believe that because there is so much competition for attention and placement online that success often comes down to marketing efforts. The long tail only works if you have can seperate the interested buyers from the masses. These are the profitable email addresses which come back and convert.

    Good stuff with the article, keep it up!

    Brian

  14. Julie says:

    Wow James, I’m really digging the post. These are some of the methods I use to put together a profitable campaign, although, I tend to focus on the project really well in the beginning, but then I lose focus as time goes by. I really need to work on bringing it full-circle.

    Thanks again for the awesome post!

    – Julie

  15. Good information. I think the niche emphasis is huge in making money online, and although it’s going slowly for me as I’m trying to switch from a paid by assignment freelance writing style to passive income via niches, I am seeing progress. Thanks for sharing.

  16. ed says:

    Wow- this was a great article. I am sure that this will become so valuable as I am starting to try to make money online. He is a great writer and seems like he knows what he is writing about. Thanks for the post.

  17. arkansas says:

    This seems to be very interesting, however I am not sure if I like web pages with only one page, it just seems like there is not enough information.

  18. ringenvy says:

    Well this is a really nice read you have got out here . You have been laying emphasis on the importance of quality through out the post which is really important for a product to succeed . I have got some really good ideas after reading this text .

    thank you !

    RS

  19. Lisa Miles says:

    Awesome content. I first came across your site navigating via Paul Myers blog and was impressed with his testimonial.

    Laser Focus is another key to achieve success.

    Lisa Miles

  20. Internet marketing says:

    Excellent article! These 6 steps are important for increasing business. But, content also another most important getting traffic.

  21. Alex says:

    The main problem is quality traffic. Lots of readers who are searching what you are offering them. So step one is offer good content.

  22. Internet marketing says:

    Some good tips and ultimately the most important you have to have a niche. You can’t be everything to everybody and brand X doesnt sell.

  23. joe comp says:

    now i am trying to learn about no.4 traffit.but its can give me a benefit that i can learn from here.thank you

  24. Selene says:

    I’m reading about James’s article as well. Good to found his article is mentioned here! He’s really talented. 😀
    I’m now struggling with copywriting but will need to iron out this before I can really reach out to the readers.
    Cheers for sharing this with everyone!

  25. Tom - Home Business Marketing Tips says:

    Excellent article! I made research and decided to make 4 new blogs about smaller niche areas.The blogs are simple and sell one downloadable report and has a free newsletter with more information.The challenge is to write good content because I am not an expert in these areas.
    http://www.tlmarketing.net

  26. Faye Hermant says:

    A very useful post. Focusing on finding the right niche and creating quality content is the best way to achieve long-term online profits. You have to lure visitors into buying your product by solving their problems and connecting to their emotional needs.

    I also agree with Marketing Minefield about product creation. It is easier to sell good-quality affiliate products than creating your own. You have to do your research on what product to be affiliated with but that’s another topic altogether.

    Faye

  27. Stephan says:

    I just started my journey as an interpreneur and set up my business accordingly to these tips. Traffic is starting to come in and sales are picking up too. Great advice.

    Stephan

    Here’s my first website:

    Research – Do-My-Research – Research Paper – Research Paper On

  28. Online marketing says:

    I agree with one of the most important parts that is in the article and that is that you need a system. All businesses that are successful are using some type of system and that system is what does the fundamentals which continues to make successful businesses.

  29. Case Stevens says:

    @Liquidsilver Go back to the top of the comments section, click the Free Video ad. Sign up and download the Blueprint.
    That will be an eye opener!

  30. James Buy Sell House says:

    thats quite a good post. ive set up my own niche business in the past and did much of what you suggested. i wish i had read that first instead of stumbling over the hurdles.

    now working on a new project

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