How to choose a niche down to tiny niches

Lesson Details:

Video Transcription: So now we are starting to be faced with two issues how to niche down small enough so that it's not too competitive but at the same time how do you achieve your financial goals would afford this because once you knee down too low into narrow you start to get into areas where there is not a lot of money that can be made. This video is brought to you by Appy Pie Academy. or is that true so in this video I'm gonna go over two examples in which I'm gonna show you how to get into small tiny Nicias but still monetize that really well for a one-person business this can be like a six-figure a year business so for some people that's not enough for most people that's plenty so it's not necessarily gonna earn you a million or a billion dollars in the first few years unless you really grow that and take it to the next level but it is gonna give you a really good income that you can live comfortable and be fully independent so let's start looking into this and this is especially good for beginners because you're gonna be able to compete because you're not gonna have to go up against gigantic companies so let's say you wanna you love to travel travel is impossible right it's a multi multi-billion dollar space we have to go a little narrower maybe we will narrow down in a specific country or even a state or even a city an area so just travel in some city and you think okay well that's not that big it's actually still huge most cities have a huge travel market like most big cities there they have a lot of tourist destinations and a big tourism market so here are a few ways to monetize this business first you can give private or public tours you can create your own picture books local hiking books like walking tour books guidebooks photo books all kinds of things and sell it online and of course if you are in the travel area hotels airlines can car rentals pay large affiliate commissions so if you can sell that to your existing audience that's extra revenue as you grow you can become a local tour company that hotels begin to recommend and you start getting on the top lists of companies that hotels recommend to their clients who stay there and suddenly you've got yourself a sizable tour company local tour company that you can grow and this can actually go way beyond six figures this can go multiple six figures easily once you grow into this and get it all right of course it's not right it's not all right away it can start with something as simple of specific city tours in some city but I can grow and grow and grow and you can keep expanding it now let's go over an example like if you if you actually yourself want to travel the world if you love travel and you want to travel the world which is a super difficult niche but you thinking maybe I'll take trail travel and I'll take pictures and videos now that's hard I mean you've got to become some kind of a youtuber or Instagram sensation there are few of those and a lot of people know about this kind of a situation that this can happen but it's really rare but here's an example for you let's say that you specialize in a few types of travel or a few types of destinations and you bring groups to hotels for example like you do a yoga retreat in some like exotic place where a beautiful beach right so in a different country or if it's not yogurt it can be like intense hiking or beautiful hiking or mountain climbing but like somewhere cool first of all it sounds cool so like people will get into potential clients will get interested in this but if you can bring people to other destinations right you can bring a group to other destinations you can monetize this really well hotels will would love to pay for you to bring people to them they'll give you free stay they'll pay you and by the way the hotels will pay you and the people who travel with you will pay you and if you booked the hotels for it from for them and the flights for them and everything else then guess what you also make money from the affiliate sales of the flights of the car rentals of the all the other things so this also is something that fulfills the premise like you want to travel the world and do whatever you want and be free while actually generating a really good revenue now is this easy to pull off of course no every business is hard and has its own challenges but at the same time it's a if this represents a clear path to how to monetize effectively a very niche kind of a thing which is a perfect balance of not too competitive but well monetized makes good money and gives you the freedom to do whatever you want with your business in terms of freedom of lifestyle.