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SPQ 003: How Do You Determine the Profit Potential of a Niche or Book Idea?

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SPQ 003: How Do You Determine the Profit Potential of a Niche or Book Idea?

  1. Profit PotentialProfit Potential How to Determine the Profit Potential of a Niche or Book Idea? Episode 03 of the Self-PublishingSelf-Publishing QuestionsQuestions Podcast of a Book Ideaof a Book Idea
  2. Question:Question: Do you have a specific step- by-step system in place for determining the profitability of any given niche or title?
  3. Once you have a niche in mind, think about the problems people in that audience face. TAKEAW AYS K ey
  4. Really drill down into one niche to come up with a lot of ideas that provide value for readers. TAKEAW AYS K ey
  5. Use the following process to determine if a niche or book idea might be profitable. TAKEAW AYS K ey
  6. Open the Google Keyword Planner and type phrases related to your niche. You want at least 10,000 exact matches total. TAKEAW AYS K ey 11
  7. Find out if there’s any competition. You want to see that people are already making money from a topic. TAKEAW AYS K ey 22
  8. Look to see if there are information buyers in the niche. Look at Udemy and other course sites. TAKEAW AYS K ey 33
  9. Check iTunes or Download.com for software solutions. The more reviews it has, the more likely it is that it sells well. TAKEAW AYS K ey 44
  10. Do the “50 Questions Test.” Try to come up with 50 topics related to the market. TAKEAW AYS K ey 55
  11. Find people who are passionate about the topic. Check Quora, Facebook, and forums. TAKEAW AYS K ey 66
  12. You can also use Amazon as a research tool. If the ranking of a book is 30,000 or lower, it’s selling at least five copies per day. TAKEAW AYS K ey 77 BONUS Step:
  13. A niche should fit most of the above criteria, but it’s okay if it doesn’t fit all of them. TAKEAW AYS K ey
  14. BiggestBiggest Takeaway:Takeaway: Target a specific niche & focus on providing solutions for that audience.
  15. Check out the Full Epsiode!Full Epsiode!
  16. Check out the Full Epsiode!Full Epsiode! Q ClickClick!!
  17. Archives Archives Listen on iTunes! Listen on Stitcher! Get the free PDF!Get the free PDF! Check out Past Episodes!
  18. Archives Archives Listen on iTunes! Listen on Stitcher! Get the free PDF!Get the free PDF! Check out Past Episodes! ClickClickables!ables! Q QQ Q

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