Select a Profitable Niche
Now’s the time to narrow down the destination on your journey that will benefit you the most. If you were planning a trip, you might choose a place you’re passionate about. And you might do the same thing when considering freelance tasks to pursue.
When selecting your niche, however, it’s important to remember that passions are important but not necessarily the driving force behind finding a profitable niche that you enjoy. Instead, be sure to try out new niches and learn new things. Passions take time to develop, so as you become a master at what you do, you may discover new passions you never expected.
As Steve Jobs said, “The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.”
Now let’s explore a process that will lead you to your ideal niche.
Seven Steps to Launching a Profitable Niche That You Enjoy
Step One: Assess Your Current Interests
First of all, ask yourself the following questions:
- What tasks do I currently enjoy in my work?
- What tasks did I enjoy with previous clients or work opportunities?
- If you could craft your ideal work day, what types of tasks or projects would you love to include? Ideally, aim for work that offers autonomy, creativity, and control.
Step Two: Identify Top Skills
Here is where you’ll aim to leverage your skills and background wherever possible. Think about the following factors:
- What would your active clients say are your best skills and strengths?
- What do you think are some of your best skills that set you apart from others?
- What strengths have you cultivated with time and experience?
Step Three: Research Potential Niches
Now is the time to see where your interests and skills match up and research what niches are in demand right now.
First of all, keep in mind that there are three types of niches:
- A Client Niche provides a variety of services to a target client market (e.g. authors, coaches, speakers, trainers, real estate agents, women business entrepreneurs, information marketers, health professionals, hobby-based entrepreneurs, lawyers, and other service-based professionals).
- A Skill Niche offers specialized skills to clients in need of your services (e.g. social media, WordPress design, customer support, online business management, online events, digital marketing, copywriting and editing, technology support, email marketing, podcast production, and book marketing).
- A Hybrid Niche offers specialized services to a target client market (e.g. social media services offered to health coaches or authors).
In addition to the new opportunities we mentioned in the introduction, here are seven profitable niches to consider and potential services you can offer:
1. Social Media Management
- Social media profile set-up and design
- Online community management (groups, pages, and blogs)
- Content planning and scheduling (Buffer, Hootsuite)
- Social media image editing and design (Canva, PicMonkey, Pablo)
- Social media advertising (Facebook Ads, LinkedIn Ads, Promoted Tweets)
- Social media analytics (Platform Stats, Google Analytics)
2. Digital Marketing Support
- Setting up marketing strategy, funnels, and pages
- Managing content marketing platform (blogs, videos, podcasts, social media posts)
- Managing and supporting online product launches
- Email marketing and list management
- Affiliate marketing and management
- Keyword research and search engine optimization
- Website analytics and tracking
3. Content Creation and Management
- Content strategy and planning
- Content creation, editing, and transcription
- Managing editorial calendar and scheduling new content
- Publishing and optimizing content for the audience and search engines
- Repurposing old content for new mediums
- Tracking online content results
4. Online Media and Events
Managing webinars, live streaming events, teleseminars, virtual conferences, and podcasts, including the following services:
- Online event strategy and planning
- Online event moderation and management
- Online event replay creation, repurposing and distribution
- Creating and producing screencast videos
- Event marketing and promotion
- Event tracking
5. Technology Management and Support
Setting up and managing technology for clients, including the following:
- Social media management tools
- WordPress design
- Ecommerce tools
- Email marketing platforms
- Landing page design tools
- Project management tools
- Customer Relationship Management (CRM) and support tools
- Course management tools
6. Online Business Management and Support
- Your client’s “point person” for all projects
- Setting up and managing client’s business systems
- Managing team of contractors
- Managing billing and finances
- Managing a variety of projects
- Managing email inbox and calendar
7. Graphic Design
- Photo editing
- Image design and formatting
- Logo design
- Ebook design
- Forms and brochure design
- Infographic Design
STEP FOUR: Test the Niche
Now that you’ve researched potential niches and identified your interests and skills, it’s time to determine whether your preferred niche will be profitable. You can do this by asking the following questions:
- What do my clients say they need more support for?
- What do my colleagues say about the trends in client work?
- What do the stats say about different industries? Which niches seem like a favorable choice?
- What does Google say? In Google Trends or the Google Keyword Planner Tool, what words are most searched for right now and what niches are most popular?
STEP FIVE: Determine Core and Complementary Niches
Once you’ve discovered your core niche (e.g. social media or copywriting), you’ll find that certain skills overlap. By amplifying your skills and offering complementary services, you can deepen your relationships with your clients.
Here are two examples to consider:
- Complementary services include graphic design, content marketing, and email marketing.
- Complementary Services could be blog management, ebook design and formatting, and article writing.
STEP SIX: Master Your Niche
As we mentioned above, your passion will develop as you master your niche. And the more you master your niche, the more profitable it will become. Here are three ways to become a master at providing your chosen services:
- Create a regular block of time to master your niche.
- Take courses, listen to podcasts, watch tutorials, and read blog posts and articles.
- Practice. Practice. Practice.
STEP SEVEN: Market Your Niche
Once you know what you want to do, you need to decide how you will get visibility and market your services. In Step Nine: Find Your Ideal Client, we’ll discuss this in more detail. For now, here are the main types of marketing in a nutshell:
This is the best kind of marketing where you seek new referrals from your circle of influence:
- Connections (local businesses, friends, or online connections)
Publish niche-specific content to boost credibility and build your stature in a specific market:
- Social media posts
- Blog posts
- Facebook Live
Build a targeted email list with a FREE signature offer that demonstrates your expertise and encourages people to seek your services:
- Guide, report, checklist, or ebook
- Online course
- Video series
And now, let’s begin to build your personal brand that you can share when you’re marketing your services!
Other Useful Topics
Creating the Perfect Freelancer Home Office
Create the perfect freelancer home office with our guide on Feng Shui, ergonomics, essential software, and more for a productive r ...
Discover How to Become a Virtual Assistant From Scratch
Learn how to become a virtual assistant with our guide on skills, training, home office setup, and finding niche job opportunities ...
How to Find Freelance Clients (In Your Own Backyard)!
Discover how to find freelance clients with our comprehensive guide, covering unique strategies for success in building your remot ...
Discover Your Ideal Freelance Niche: A Comprehensive Guide
Find your ideal freelance niche with our guide on assessing strengths, researching profitable niches, and refining focus for a suc ...
Quick Guide to Become a Freelance Social Media Manager
Discover essential tips to succeed as a freelance social media manager, including skills needed, finding clients, setting up your ...
How to Freelance with Confidence: Essential Tips for Success
Learn how to freelance with confidence: understand strengths, develop a professional brand, network, set boundaries, and invest in ...
Become a Freelance Podcast Producer: Essential Skills & Tips
Master essential skills to become a freelance podcast producer, including audio editing, guest sourcing, engaging show notes, and ...
How to Become a Freelance Proofreader: A Comprehensive Guide
Learn to become a freelance proofreader with our guide on niche identification, market research, skill development, and success in ...
Five Winning Tips to Find Freelance Clients On LinkedIn
"Learn how to find freelance clients using LinkedIn! Get 5 tips to optimize your profile, leverage referrals, and use advanced sea ...
Five Habits to Successfully Freelance From Home
Discover the 7 habits you need to unlock your freelance success from home. Learn how to set up a workspace, manage finances, and m ...
Five Steps to Building a Powerful Freelance Brand Identity
"Discover the essential tips for developing your personal brand as a freelancer. Learn how to stand out and attract clients with b ...
10 Mistakes to Avoid When Starting a Freelance Business
Start your freelance business off on the right foot! Avoid these 10 common mistakes when starting a freelance business and get rea ...
Quick Guide to Start Your Virtual Bookkeeping Business From Home
Start your virtual bookkeeping business from home with this guide! Learn the tools, tips, and tricks you need to find clients and ...
The Ultimate Guide to Finding Remote Freelance Jobs in 2023
Start your side-hustle today! Learn how to start freelance writing and make it successful with our tips, resources, and challenges ...
The Definitive Guide on How to Start Freelance Writing From Scratch
Start your side-hustle today! Learn how to start freelance writing and make it successful with our tips, resources, and challenges ...
How to Start Freelancing With No Experience
Start your freelance career today! Learn how to start freelancing with no experience and find your first client in 5 easy steps. G ...
Quick Guide to Building an Email List from Scratch!
Discover five ways to build an email list from scratch.
The Fine Art of Asking for a Referral
Discover some key strategies for asking for a referral for your Freelance Services.
7 Online Predictions for 2020
Here are 7 Online Predictions for 2020 that could have a big impact on your Freelance Business!
How to Build a Success Mindset
Here are three key strategies for creating a success mindset in your business for the new year!
Seven Productivity Tools to Add More Time to Your Week!
In this post, we’ll share seven productivity tools and apps that can add more time to your week.
How to Combat Imposter Syndrome in Your Freelance Business
Five ways to overcome the Imposter syndrome in your freelance business... this is a must read!
How to Gain Experience (and Credibility) When You Have None!
Here are four other practical ways to gain experience in order to build credibility with new clients.
Ten Tools to Power Your Dream Virtual Office
What constitutes a dream office for a freelancer or virtual assistant? Check out some ideas here!
The Fine Art of Learning New Skills for Your Freelance Business
As freelancers, we need to update our skills to stay current in today's virtual industry. Here are 7 ways to succeed in the art of ...
Five Ways to Legally Protect Your Freelance Business
Here are five ways you can legally protect your Freelance business, so you can sleep easier at night!
Your Guide to Five Top Marketplaces to Finding Work as a Freelancer
In this guide, we’ll dispel some of those myths and look closer at five top marketplaces where you can start finding work as a f ...
How to Take Time Off in Your Freelance Business!
Discover some helpful strategies for taking time off in your Freelance Business without losing any clients!
A Guide to Writing Business Proposals for Clients
Here's a quick guide to writing business proposals that win new clients... this is a must-read for any Freelancer!
How to Select a Niche Focus for Your Freelance Business
Some get it right the first time; most struggle with finding their freelance niche. And that’s okay. It’s not easy to choose a ...
A Sneak Peek at our New-Look University!
Have a watch of this short "behind-the-scenes" video as I show you some of the exciting changes we have made to the University tha ...
How to Fire a Client the Right Way!
It is never easy to fire a client! In this post, we provide some helpful tips and strategies for ending an unhealthy client relati ...
How to Create Multiple Streams of Income for Your Freelance Business
If you’re exploring new income streams, this “Guide to Creating Multiple Streams of Income for Your Freelance Business” will ...
Freedom Story: The Journey from Vision Loss to a Thriving Freelance Business
Have a watch of this inspiring interview and receive some valuable "nuggets of wisdom" on how to build a thriving freelance busine ...
Facebook Watch Party vs Live: Two Powerful Tools to Build Engagement
Facebook Watch Party vs Live - two powerful tools to build reach & engagement with your target audience.
How to Handle Failure and Success in Your Business!
Have you encountered failure in your work as a freelancer? Discover how to handle failure and success in your business.
An Introvert's Guide to Networking like a Rock Star
Many of us find networking challenging, no matter what our personality may be. Here are 10 strategies you can use as a guide to ne ...
Your Guide to Optimizing Your Daily Productivity
Here are some tips and strategies to help you optimize your daily productivity so you can get more work done in less time!
Four Business Challenges to Overcome in 2019
In this video, I identify the FOUR challenges and offer a practical solution for overcoming them and making this your best year ev ...
Three Stories to Inspire Your Freelance Business in 2019!
I want to share three "Freedom Stories" from students all with a passion to design a flexible and profitable Freelance Lifestyle.
A Freedom Story to Inspire Your Success in 2019!
Here's a success story from one of our students, Renee, who has overcome great challenges to build a profitable freelance business ...
Five Platforms for Sharing Your Services with the World!
Let’s take a look at some of the top content channels for promoting your brand and business to the masses!
How to Embrace Your Laptop Lifestyle!
Here are some other places you can go to embrace your location-independent laptop lifestyle in your own home and beyond:
5 Keys to Finding and Attracting Clients Using Social Media
Here are five useful tips for finding and attracting your ideal clients on Social Media. The tips will help you to discover great ...
Five Ways to Create a Winning Entrepreneurial Mindset
How do you create an entrepreneurial mindset in your freelance business? Do you find it challenging to shed the attitude of an emp ...
How to Find Ideal Clients (in Your Own Backyard)
How did you find your first client? If you’ve been a freelancer for a while, you may look back and see that you have an interest ...
The BEST WAYS to Overcome Your WORST DAYS!
Here are some excellent strategies you can use to overcome your worst days in your freelance business!
Help! My Client Won't Pay Me!
While it’s impossible to predict the future, and even the best clients can fall on hard times, here are some tips you can employ ...