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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?

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  1. Profit Potential of a Book Idea Profit Potential of a Book Idea How to Determine the Profit Potential of a Niche or Book Idea? Episode 03 of the Self-Publishing Self-Publishing Questions Questions Podcast

  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. TAKEAWAYS Key Once you have a niche in mind, think about the problems people in that audience face.

  4. TAKEAWAYS Key Really drill down into one niche to come up with a lot of ideas that provide value for readers.

  5. TAKEAWAYS Key Use the following process to determine if a niche or book idea might be profitable.

  6. TAKEAWAYS 1 1 Key Open the Google Keyword Planner and type phrases related to your niche. You want at least 10,000 exact matches total.

  7. TAKEAWAYS 2 2 Key Find out if there’s any competition. You want to see that people are already making money from a topic.

  8. TAKEAWAYS 3 3 Key Look to see if there are information buyers in the niche. Look at Udemy and other course sites.

  9. TAKEAWAYS 4 4 Key Check iTunes or Download.com for software solutions. The more reviews it has, the more likely it is that it sells well.

  10. TAKEAWAYS 5 5 Key Do the “50 Questions Test.” Try to come up with 50 topics related to the market.

  11. TAKEAWAYS 6 6 Key Find people who are passionate about the topic. Check Quora, Facebook, and forums.

  12. TAKEAWAYS 7 7 Key You can also use Amazon as a research tool. BONUS Step: If the ranking of a book is 30,000 or lower, it’s selling at least five copies per day.

  13. TAKEAWAYS Key A niche should fit most of the above criteria, but it’s okay if it doesn’t fit all of them.

  14. Biggest Takeaway: Biggest 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 Click Click! !

  17. Listen on Stitcher! Listen on iTunes! Get the free PDF! Get the free PDF! Check out Past Episodes! Archives Archives

  18. Listen on Stitcher! Listen on iTunes! Q Q Click Clickables! ables! Q Get the free PDF! Get the free PDF! Check out Past Episodes! Q Archives Archives

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