The term 'niche' has become an over-used IM industry buzzword. AND it's vastly misunderstood. A niche market is a very small, micro-targeted segment of a much larger industry, in which there would be dozens, hundreds, maybe thousands of other niches. One of the popular IM guys, I think it was Andy Jenkins of StomerNet, reported that some guy was generating a huge cashflow selling bird cages online. That is an excellent example of a niche market that's working.
But just because you have a market doesn't mean you're necessarily going to make money. YOu still have work to do: generating buzz, building followers/customers/clients, converting said followers, and ultimately continuing to pull a growing audience AND appealing over and over again to those who have bought from you previously.
Don't ever say, "what's the hottest market right now." That's just dumb. Here are some niche getting ideas:
Where to do some niche market ID research
- Amazon
- About.com
- eHow.com
- Your local bookstore - look at all the headlines of the varios niche market magazines and take notes, then visit the various topic sections of the store and do the same with the books.
And you can certainly distill your own starting with your hobbies, intellectual interests and then carving them down using drill-down keyword tools like WordTracker.
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