One of the first steps you need to take care of before setting out to build a money making website is to choose a niche that is both lucrative and achievable – there is no point selecting a niche that is worth a lot of money in a market that you can’t compete in and vice-versa.
Take the time to get the niche selection right in the first place and you will save a lot of money and time down the track.
I know this is just common sense but not everyone gets it right. Many are stubborn; others are just unaware.
I often get emails from people who are struggling to get results and this is usually due to being in a niche with little search traffic, strong competition, or limited ways to monetize. Even after being told about the lack of scope available to improve, a lot of the people struggling refuse to adapt and are stuck working on a project with little potential – don’t be that person!
There are several elements of niche selection that you need to consider before committing to a website:
- Traffic
- Monetization
- Competition