To make money you have to spend money. But you must also follow the money. Invest in ebusiness niches that carry goods and services that are in great demand.
Regardless of any current economic condition, there will always be a set of goods and services that people will always buy. You just need to supply them to make money.
These markets are profitable, because they are hot. These markets are based on what people want, rather than what they need.
Most people regularly buy stuff they really don’t essentially need to survive, but merely just want. For example, no one really needs a sports car, but they may want a want a sports car, and so they end up buying a sports car.
Finding out what people want is the key thing to consider when deciding your next ebusiness niche to invest in.
Here is a shortcut: just think of the 7 deadly sins, and you will get a ton of ideas immediately.
There are thousands of products created simply to satisfy the wants evoked by 7 deadly sins:
Lust is an inordinate craving for the pleasures of the body.
eBusiness niches for this deadly sin includes dating/romance and wedding-related products and services. The secondary market to this niche would be for baby-related products. People get married then have kids… well most of them.
If you are really sinful, then the porn industry might prove to be very lucrative. It is a $12 billion dollar industry, and the affiliate commissions are normally 50%.
You may also want to market adult toys, like vibrators. Speaking of which, Vibrators.com sold in November 2008 for $1 million.
Gluttony is an inordinate desire to consume more than that which one requires.
People who can afford to be gluttons, are normally gluttons. This is where people have 4 houses in 4 different countries. But lets speak about smaller items such as shoes, DVD’s books, phones, TV’s, computers, entertainment systems, cars and of course fashion/clothes.
Greed is the desire for material wealth or gain, ignoring the realm of the spiritual. It is also called Avarice or Covetousness.
Will you ever be satisfied with the amount of money that you have?
Rather than working hard for money, many will try to gamble, or even steal.
The gambling industry is a multi-billion industry. Most gamblers don’t really NEED the money they seek to win, but are driven by greed.
Greed is why people fall so easy for get-rich schemes, such as pyramid schemes that will eventually collapse.
Sloth is the avoidance of physical or spiritual work.
Promote products that save people time and energy. “FAST” and “EASY” are the key words here.
Get-rich-quick schemes, automated software/scripts etc. Domain parking? – Haha!!
Anger is manifested in the individual who spurns love and opts instead for fury.
The movie “Lord of War” with Nicholas Cage is a perfect demonstration here. Guns and anything to do with the arms trade will churn huge profits. However, I would prefer if you sell books that teach/influence peace and love.
Envy is the desire for others’ traits, status, abilities, or situation.
The desire for success is normally driven by envy. It’s typical of the “keeping up with the Jones’s culture.
Celebrity magazines are typical examples.
Pride is excessive belief in one’s own abilities, that interferes with the individual’s recognition of the grace of God. It has been called the sin from which all others arise. Pride is also known as Vanity.
If you invest in the Lust niche, you can increase your success by bringing pride (or vanity) into the mix.
People are very concerned about how they look. This results in the huge success in the cosmetic and fashion industries. Health products such as acne remedies also do very well.
Sales of vitamins, books, diet plans and fitness equipment are always very sturdy. The Christmas period is one of the best times of the year to promote these products.
Succeeding in These eBusiness Niches
Because these ebusiness niches are very popular, there will be a lot of competition. However, you can overcome this easily by branding. Stand out from the crowd. Acquire a great domain name, get a professional logo done, and design and develop a functional and easy-to-use website that help your customers to get these products.
Customers are wired to notice what’s new and unique in the marketplace. Your customers will sit up and pay attention to what you are doing.
Invest in quality domains and you will earn instant credibility from your customers. Better yet, they’ll buy.
Think out of the box with domains. It is all about quality.
Good luck with your eBusiness selection, but don’t lose your soul while making your millions.