Only 1 in about 5,000 attempts at building websites results in a successful business (more on these stats in following posts). At our PubCon keynote I outlined the five primary factors that determine the winners:
1. Focus
2. Uniqueness
3. Monetizability
4. Content
5. Community
And the transcendent ingredient:
6. Passion
I'll begin to break these down:
Focus
Target one niche or application (at least to start). The more precise the better. Examples: not travel, but cruises. Not hobbies, but scrapbooking. Not students, but colleges (think of Facebok's start). Focus forces you to understand the target better and to build better solutions. Win a single type of audience, only then expand.
Uniqueness
At the onset, the business should either be unique or do something much better than everyone else. Over time, competition tries to replicate the success of others, but the best businesses preserve aspects of their uniqueness by continuing to innovate (like Amazon).
Monetizability
Follow the money trails, the commercial trails. Audience alone is sometimes not enough. Not all audiences monetize very well.
If your looking for to build a niche website, you’re going to find it in the long tail. Your not going to start a niche blog about slippers, you’re gonna start a blog on furry fluffy slippers. Your not going to start a forum on cars, you’re going to start one on Honda Civics or Ford Trucks. You have to it narrow down to a two, three or more word long tail target.
Chris Anderson, Editor of Wired Magazine wrote a great book on the long tail called, The Long Tail: Why the Future of Business is Selling Less of More and has a blog that really explores this subject in depth. He goes beyond just the web and into buying habits and search habits of consumers. I really suggest you buy it.
Below I am going to go over some examples of niches and long tails that I know can make money online right now. Please steal them and make them your own. I don’t have time to pursue them.
Maybe you can think of some of your own ideas. The goal here is to get your creative juices flowing so you can zero in on some possible endeavors that are viable to pursue. There is no need to make this rocket science.
I didnt read your post, but your from So Cal so + rep always.
OK, I said I would update this weekly, I lied. I mean, I opened my mouth too soon. What I will do is post info here when I think it relates to this case study. For example Today I wrote a post titled Build a niche website that goes over niches and my thoughts on the long tail etc.
I think it is important to understand niches and the long tail for beginners. This my be mundane for experienced webmasters, but this is meant to be a 101 on blogging. I recall in 2007 and Andrew Wee did one that never really delivered. I mean Mr. Wee is a cool dude, but it was rather weak of a case study and I think it was never finished.
OK, here is some meat from today's post. If you want to read more, then check it out on my blog here;
It’s all about the long tail.
Later this week I'll go in to more of my niches chosen for this case study and why.
I mean Mr. Wee is a cool dude,
I would challenge any of you know it alls to a website dual.
Who can rank first?
Who can make more money?