Want to know my niche profitability checklist? After trying and testing different models over the last 5 years, I brought it down to a simple 5P framework to check if your topic or niche will be profitable or not.
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How I Validate Niche Profitability?
After five years of experimentation with various coaching models on this podcast, I aim to share insights on how to assess the profitability of a niche. Having explored numerous niches, I've identified key factors that determine its viability. So, what constitutes profitability? Let's delve into it.
Welcome back to another episode of the Freedom Business podcast. If you haven't already, please subscribe to me on Apple or Spotify to receive future episodes. Today, we're tackling the concept of profitability within a niche. How can you gauge a niche's potential for generating income? I've developed a systematic approach involving five distinct areas, and I'll delve into each one to help you align it with your goals. This process will help you determine whether your chosen topic holds promise for profitability.
The first area to consider is your passion for the subject matter you're teaching. Genuine enthusiasm is usually rooted in personal experience. Unlike those who jump on the latest trend bandwagon, your passion should stem from a lifelong interest or a childhood connection. Mere trends are short-lived; authentic passion endures. Without this passion, sustaining your engagement becomes challenging. It's this passion that fuels in-depth research and propels you through obstacles. As Steve Jobs once said, unless you're consumed by your pursuit, you're likely to switch paths. Therefore, the initial checkpoint is: do you harbor true passion and obsession for your chosen topic? Otherwise, boredom may set in.
The second checkpoint involves aligning your passion with problem-solving. Passion that addresses a problem has business potential; otherwise, it's a hobby. For instance, having a passion for cooking is one thing, but if you're passionate about creating and sharing diverse recipes, catering to people's culinary exploration, and providing value, a business opportunity emerges. Similarly, my passion lies in teaching and coaching, addressing the challenge of monetizing one's knowledge. The fusion of passion and problem-solving is driving the growth of my digital coaching business. For me, it's linked to my history as a college dropout. This shared thread empowers me to guide others and underscores that formal education isn't a prerequisite for success. So, the two Ps here are passion and problem.
The third P underscores the importance of pinpointing your target persona. A broad market rarely yields responsiveness. To avoid the pitfall of selling to everyone (which is akin to selling to no one), your passion and problem-solving must be aimed at a specific demographic. For instance, my student specializing in European home baking caters exclusively to women intrigued by this niche, resulting in substantial monthly earnings. Another example is a senior executive who teaches flute part-time, capturing a niche of individuals keen on learning this traditional Indian art form.
In essence, profitability hinges on the synergy of passion, problem-solving, and precise targeting. Assess whether your niche aligns with these criteria to determine its potential for success. In the subsequent segments, we'll explore the remaining components of this validation framework. Stay tuned for deeper insights into cultivating a profitable niche.
He's not targeting any other style of music or anyone inclined towards other music genres. So, it's not just about aiming at entrepreneurs, working professionals, women, or mothers. It could also involve specific segments of society. In this case, it's those who share a passion similar to yours. The best target market resembles you but might be a couple of years behind – someone with your values and beliefs.
When I began my campaigns, I concentrated solely on my own city – Chennai and Bangalore – since these are the cities I relate to as a rapper. This created a connection, which is the third piece – establishing a strong bond with a specific audience, that's the persona.
The fourth piece involves selecting a topic with market potential and a growth trajectory. For instance, AI, ChatGPT, technology-related tools, digital coaching, all are projected to be a $350 billion industry soon. Riding this trend armed with the right knowledge and strategies contributes to my business growth.
However, potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India. High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
This isn't just about following trends, but about riding the upward trajectory across industries. Booming industries include coaching, crypto, Blockchain, AI, and more. Even offbeat topics like content creation, video editing, and becoming an influencer are sought-after skills.
Ultimately, the profitability of your chosen niche depends on these five Ps. Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts. Research helps gauge this willingness and confidence to charge accordingly.
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129 replies to "How To Validate Your Niche Profitability"
1. consider your passion for the subject matter you’re teaching. Genuine enthusiasm is usually rooted in personal experience.
2. align your passion with problem-solving. Passion that addresses a problem has business potential; otherwise, it’s a hobby.
3. pinpoint your target persona. A broad market rarely yields responsiveness. To avoid the pitfall of selling to everyone (which is akin to selling to no one), your passion and problem-solving must be aimed at a specific demographic.
4. profitability hinges on the synergy of passion, problem-solving, and precise targeting.
5. The best target market resembles you but might be a couple of years behind – someone with your values and beliefs.
6. establish a strong bond with a specific audience, that’s the persona.
7. select a topic with market potential and a growth trajectory.
8. People pay only if they find value in your offer and want to be part of the trend.
Five 5Ps to validate your niche:
1) The first area to consider is your passion for the subject matter you’re teaching.
2) The second checkpoint involves aligning your passion with problem-solving
3) The third P underscores the importance of pinpointing your target persona.
4) The fourth piece involves selecting a topic with market potential and a growth trajectory
5) Fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
Passion, Problem-solving, Sowcific target Persona, Profitability and whether people will pay you fir what you have to offer using your passion which would dolce their problems in specific audience persona with a potential for recurring income for you
My key takeaway is that our passion should solve a problem for someone and our service should be offered to the people who share our values , who resonate with us. Also , the topic we choose should have potential for growth or should be high in demand for example Digital Coaching/Weight Loss Program that works/Marketing for Creators that people are willing to pay for.
Key Takeaways –
1. Passion: there needs to be a passion/obsession around the topic of niche.
2. Solve a Problem: there must be a solution to a problem that the coaching can offer
3. Target Market: there must be a specific target market for your topic instead of a general audience
4. Potential: the topic should have a potential to grow
5. Payment: if there is no relevance in the offering, they won’t buy the course
Thank you!
Listening to this podcast was an eye-opener. Here’s what I’ve picked up:
1. Passion Powers Everything: Real passion keeps us going.
2. Solving Problems with Passion: Passion + solving problems = business chance.
3. Aim for Specific Audiences: Connect deeply with certain groups.
4. Spotting Opportunities: Niche growth potential matters.
5. Value Leads to Payment: People pay for value.
6. Following Trends Wisely: Trends guide growth.
7. 5 P Formula for Success: Passion, problem-solving, persona, potential, payment.
Now, I’m armed with insights to shape my journey. Mixing passion, smart choices, and audience understanding, I’m ready to stride towards success!
Thanks a lot
Niche Profitability:
How to Validate?
5 P technique.
1. Passion: It’s important having passion, you will get bored after sometime if you don’t have passion.
2. Problem: Your passion should solve a problem.
3. Persona: Specifically serve Target Market.
4. Potential: Potential is not high so payment will be not fulfilled.
5. Payment: There has to be market potential, and people should be willing to pay substantial amounts. Research to know people investing larger amount of money.
1) While passion is important, also evaluate if others share that passion. Passion alone doesn’t guarantee profitability; there must be a viable market.
2) Ensure your niche addresses a specific problem or need. A niche with a genuine pain point is more likely to attract right persons.
3) Consider if the niche has long-term potential. Avoid niches that are too fleeting or trendy.
MY TOP TAKEAWAY IS
-PASSION FOR A PARTICULAR TOPIC YOU WANT TO TEACH
-PASSION SHOULD BE A PROBLEM SOLVING SOLUTION TO OTHERS
-WHO IS THIS GOING TO BE BENEFITED FROM THIS (TARGET )
IN TOTALITY PASSION ,PROBLEM -SOLVING AND TARGETING THE RIGHT PERSONA , POTENTIAL AND ABOVE ALL THEY SHOULD BE ABLE TO PAY YOU .
Wow, this podcast episode on assessing the profitability of a niche was truly insightful! Sidz’s five Ps framework—passion, problem-solving, precise targeting, potential, and payment—provides a comprehensive guide to determining whether a niche holds promise for profitability.
The emphasis on genuine passion resonates deeply. It’s not just about jumping on a trend but having a true and enduring connection to the subject matter. The idea that passion should be paired with problem-solving is particularly enlightening; a passion that addresses a problem transforms into a business opportunity.
The concept of targeting a specific demographic instead of trying to appeal to everyone is a crucial point. The examples of focusing on European home baking or teaching flute to a niche audience underscore how this strategy can lead to substantial earnings.
The later sections diving into establishing a strong bond with the audience, aligning with trends, and ensuring value for payment add depth to the discussion. The reminder that riding an upward trajectory across industries, from AI to content creation, can bring success reinforces the idea that profitability is not solely tied to one niche.
Overall, this episode offers a practical and strategic approach to evaluating the potential profitability of a niche. It’s evident that a strong foundation built on the five Ps can lead to a sustainable and successful business. Looking forward to the next segments for deeper insights into cultivating a profitable niche!
Yes…my passion is to educate people by my coaching process to solve their leg Vein problems which match to the persona of long standing people and having potential in today’s busy life and ready to pay for the comfort and healthy leg and feet.
This is my 5P . What’s abou you??
1. Passion: Obsessive passion from your past lived experience – so u connect with the subject
2. Problem: The Passion to solve A Problem that people have.
3. Persona: solve a problem for a very Specific target people
4. Potential: in the market growth trajectory (coaching 350b USD in the next year = 1b/day))
5. Payment: people pay high, only it they see Value & they want it.
Followings needs to validate your Niche:
1. Passion – Which comes from past experience
2. Solve a Problem – If it is not solving a problem then it will become a hobby
3. Target a particular persona – focus on the very specific target market inclined to our niche and just like us
4. Choose the subject having Potential in the market – The right subject at the right time and right place
5. Payment – People will not pay if they will not see the value
My Takeaways are :
What constitutes profitability?
5Ps –
P1- Have Passion in the subject – passion comes with past experience or childhood, if not according to passion, will get bored.. Passion and Obsession for the subject
P2- Passion is solving a Problem.
P3 – Target particular Persona. Connect with specific audience.
P4- Select topic with market Potential and a growth trajectory. Potential should be high.
P5 – Payment – People pay only if they find value in your offer and want to be part of the trend.
Topic we wish to convert into context of coaching , If its not out of passion , it will not give kick to sustain around the mission, The context of coaching should serve purpose and should add value to lives of people to solve some problem.
Mission should connect to audience of persona.High potential should be part of mission.
The provided text appears to be a transcript or excerpt from a podcast episode discussing how to validate the profitability of a niche. The host shares insights on assessing whether a chosen niche has the potential to generate income. Here are the key lessons and takeaways from the text:
Passion and Longevity: Genuine passion rooted in personal experience is essential for sustained engagement in a niche. Authentic passion, unlike fleeting trends, endures over time and fuels research and perseverance.
Passion and Problem-Solving: Combining passion with addressing a problem transforms a hobby into a business opportunity. The fusion of passion and solving a problem drives growth and value creation.
Precise Targeting: Focusing on a specific demographic enhances responsiveness. Targeting a niche audience, such as women interested in European home baking or individuals seeking to learn traditional Indian art forms, is more effective than a broad approach.
Connection with Audience: Establishing a strong bond with a specific audience persona creates a connection that enhances engagement and resonates with values and beliefs.
Market Potential and Growth Trajectory: Choosing a niche with growth potential and aligning with industry trends, such as AI, technology, coaching, or blockchain, can contribute to business growth and success.
Value and Payment: People are willing to pay if they find value in your offer and want to be part of a trend. Industries like coaching, crypto, AI, content creation, and influencer marketing are examples of booming sectors.
Profitability: The profitability of a chosen niche is determined by five key factors: passion, problem-solving, targeted persona, market potential, and people’s willingness to pay.
Research and Confidence: Researching audience willingness to pay and charging accordingly contributes to confidence in the profitability of the chosen niche.
The overall message emphasizes that building a profitable niche involves aligning personal passion, problem-solving, targeted marketing, industry trends, and value creation. Success in these aspects can lead to a thriving and sustainable income stream.
5 P’s to check:
Passion in the subject and it comes from past experience or childhood. We will get bored if we don’t have passion. If we are not obsessed with the topic, we can get bored.
Passion should solve a problem. If its not solving the problem, its hobby.
We need to target particular persona. Best target market is who is like us or 2-3 years behind.
Pick a topic which has potential in the market.
People should be willing to pay.
5P framework to check if your niche is profitable or not.
1st P- Passion & Obsession- Do not pick a trending topic, pick the one in which you have certain experience in your past.
If you are not really obsessed with something that you really like to do then there is a really great chance that you will switch to something else as you will get bored soon.
2nd P- Problem- Your passion should be able to solve a particulat Problem of the market.
3rd P- Persona – Target a Particular Persona. Your Passion should solve a Problem for a specifically tarfetted market. The best Target Market who is just like you. Who has similar values like yours.
4th P – Potential – Your passion should have a High Potential in the Market. It should have great scope.
5th P – Payment – Only if the Passion you select has Potential only then you will get Paid and Target market should be able to pay you for this. If that’s the case, o ly then you will create Profitability in your system.
It’s awesome. You have dissected the entire journey of learning and finding profitable business or niche idea. Thank you.
5Ps
P-Passion (Your Passion should solve a particular problem)
P-Problem (which you want to solve with the passion you have)
P-Persona (specific target market)
P-Pick a topic (which have potential in the market eg stock market, AI)
P-Payment (should be simple)
Thank you Sidz, It was an amazing topic, here are the highlights crucial points for niche validation:
1. Passion: The podcast underscores the significance of genuine passion, stemming from personal experience rather than following trends. A niche built on authentic passion holds more promise.
2. Problem-solving: A valid niche must address a problem. This distinction between a business and a hobby is pivotal. Successful niches offer solutions that resonate with the audience.
3. Persona: Tailoring the niche’s solution to a specific audience is key. Understanding your target demographic enhances your niche’s appeal and effectiveness.
4. Potential: Evaluating market potential is essential. A niche with ample room for growth and demand ensures long-term viability.
5. Payment: The podcast emphasizes that a viable niche attracts payment. If the audience recognizes value, they’re more likely to invest.
Thank you very much for this great insight.
I have a passion for reading as I have seen the highs and lows of reading journey. I love libraries and books and music and plants all coincide with the aspect or reading as music helps in reading ambience so does flowers and plants arounds where you keep your reading space. There are very many obstacles can come in your way of reading as people will obstruct your path as they may say it doesn’t pay bills if you are not skilled at reading or English.
However i thought by learning through others efforts and learning on Facebook I can get lots of fun information on reading on my facebook account. By understanding copyright issues I could see if I can use their material that mirrors my journey. I could leave it for my students who experienced me when I had a chance to contribute and others who are wanting to know about a persons reading journey and not to get troubled by the obstalces as they will be there. There is always a resistance when you are after a certain goal.
My Niche may not be profitable but I know I must work for zero salary. But its just my life experience on my view of reading after dealing with different situations in life and how throughout my life no matter what ups and downs that I had. I love books whether its being a collector of books or reader and yes there are instances i have failed in the journey but I have learned, reflected and grown as a reader and now sharing my experiences with others. Whether its a success or failure. I have given my best shot so no regrets.
May you enjoy the journey of reading and always have soft corner for books and libraries.
My Biggest leanings from this podcast
–> Have Passion in what you are doing
–> Is your passion solving any problem
–> Whom you are targeting – Be clear about it
–> target your own city people when you are running ads
–> Riding trends and Adding the value
–> Video Creation, Podcasting is not been in schools but very important and relevant skills to learn in this digital world.
–> 5 P system to find and validate the niche.
Thank you so much Sidz and all the Community members to allowing me to grow in my life and business.
Amazing podcast.. got lot of clarity about my Niche selection.. 5 P checklist is awesome..
My takeaways
-Have passion and obsession on what you are teaching So you will enjoy the process.
– It should be problem solving.
– it should focus on particular segment of people.
– Topic should have potential in the market.
– People are ready to pay you higher amount if your product is solving the problem.
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5Ps
P-Passion (Your Passion should solve a particular problem)
P-Problem (which you want to solve with the passion you have)
P-Persona (specific target market)
P-Pick a topic (which have potential in the market eg stock market, AI)
P-Payment (should be simple)
I may have a lot of knowledge and may even be a great teacher. But to be profitable I need to focus on these 5 Ps
The 5 Ps are:
1. Unless I am fuelled by PASSION, I won’t last.
2. Am I solving a PROBLEM?
3. Am I targeting a PARTICULAR PERSONA? The best target market is someone like me. Connect with this specific audience
4. PICK a topic that has growth trajectory in that space. Potential and passion need to be married.
5. PAYMENT. Unless I offer value my customer won’t pay me.
I need to ensure I have covered all these five Ps.
My biggest takeaways from this podcast :
1. Passion: A profitable niche is based on genuine passion and deep interest.
2. Problem-Solving: Connect your passion to solving a specific problem for your audience.
3. Targeting: Focus on a well-defined target audience rather than trying to appeal to everyone.
4. Market Potential: Choose a niche with growth potential and align with emerging trends.
5. Value and Payment: People pay for valuable solutions; ensure your niche offers value.
Focus on 5 P’s for have profitable Niche
P- passion to what you teach to be intrested in topic .
P- passion to be a problem solver
P- Taget yo particular personna ( of you re selling to everybody you are selling to nobody )
This is an eye opener to discover that target audience is important . Try to focus on your kind of people .
P- Pick a topic which do have a potential in the market to be included in all above 4 P
P- payment will only happen if you add value to the market .
Research about your topic and add value to people makes you to reach the satisfied sales .
Major Check points
1. Passion & Obsession
If you are passionate about something, you will find most success in that topic.
2. Problem solving capability —
Value Provision
What move you, moves your market
3. Target a particular Persona —
Understanding your audience will make your passion solve more problems and hence make it more valuable to the market.
People who share your passion and values are your ideal target audience.
The more specific you are here, the more valuable your service and product is.
4. Potential —
Need of the hour
The topic you pick or the problem you mean to solve should be prominent and people need authentic problem solvers for that issue.
5. Payment
No Payment if No Value
Value drives Price
The more valuable your service and product is, the more people would be interested in it and the more viable it becomes to you in terms of profit.
Need to be specific on the niche and should have passion about the topic need to upgrade every day
my takeaways:
1. a niche is profitable only if it matches with 5 Ps are: passion problem, particular persona, potential,payment.
2.to have a profitable niche, have a passion on the subject on teaching that comes from past, from childhood., its long lived.
3. if you are not obsessed with what you really like what you do then you are not following a passion its a hobby.
4. your passion should solve the problem of the world.
5. particular persona, your passion should target on particular target market.
6. pick a topic which has a potential in the market.
7. payment: people will not pay you if they dont see value in it.
It was a very enlightening podcast , the top learnings from this session were
1. If you are not passionate about our topic and has back story congruence with your life you won’t be successful
2. Select a particular problem you want to solve
3. Target a person or target audience who is just lie you
4. Look at whether the market is willing to pay for your product
Genuine enthusiasm is usually rooted in personal experience. Unlike those who jump on the latest trend bandwagon, passion should stem from a lifelong interest or a childhood connection. Mere trends are short-lived; authentic passion endures. Without this passion, sustaining your engagement becomes challenging. It’s this passion that fuels in-depth research and propels you through obstacles. As Steve Jobs once said, unless you’re consumed by your pursuit, you’re likely to switch paths. Therefore, the initial checkpoint is: do you harbor true passion and obsession for your chosen topic? Otherwise, boredom may set in.
The second checkpoint involves aligning your passion with problem-solving. Passion that addresses a problem has business potential; otherwise, it’s a hobby. For instance, having a passion for cooking is one thing, but if you’re passionate about creating and sharing diverse recipes, catering to people’s culinary exploration, and providing value, a business opportunity emerges. Similarly, my passion lies in teaching and coaching, addressing the challenge of monetizing one’s knowledge. The fusion of passion and problem-solving is driving the growth of my digital coaching business. For me, it’s linked to my history as a college dropout. This shared thread empowers me to guide others and underscores that formal education isn’t a prerequisite for success. So, the two Ps here are passion and problem.
The third P underscores the importance of pinpointing your target persona. A broad market rarely yields responsiveness. To avoid the pitfall of selling to everyone (which is akin to selling to no one), your passion and problem-solving must be aimed at a specific demographic. For instance, my student specializing in European home baking caters exclusively to women intrigued by this niche, resulting in substantial monthly earnings. Another example is a senior executive who teaches flute part-time, capturing a niche of individuals keen on learning this traditional Indian art form.
In essence, profitability hinges on the synergy of passion, problem-solving, and precise targeting. Assess whether your niche aligns with these criteria to determine its potential for success. In the subsequent segments, we’ll explore the remaining components of this validation framework. Stay tuned for deeper insights into cultivating a profitable niche.
He’s not targeting any other style of music or anyone inclined towards other music genres. So, it’s not just about aiming at entrepreneurs, working professionals, women, or mothers. It could also involve specific segments of society. In this case, it’s those who share a passion similar to yours. The best target market resembles you but might be a couple of years behind – someone with your values and beliefs.
The fourth piece involves selecting a topic with market potential and a growth trajectory. For instance, AI, ChatGPT, technology-related tools, digital coaching, all are projected to be a $350 billion industry soon. Riding this trend armed with the right knowledge and strategies contributes to my business growth.
However, potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India. High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
This isn’t just about following trends, but about riding the upward trajectory across industries. Booming industries include coaching, crypto, Blockchain, AI, and more. Even offbeat topics like content creation, video editing, and becoming an influencer are sought-after skills.
Ultimately, the profitability of your chosen niche depends on these five Ps. Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts. Research helps gauge this willingness and confidence to charge accordingly.
The initial consideration when embarking on teaching a subject is the genuine passion for the topic. Unlike fleeting trends, true enthusiasm stems from lifelong interest or a deep-rooted connection. This enduring passion fuels dedicated research and helps overcome obstacles. Without it, maintaining engagement becomes challenging. The alignment of passion with problem-solving constitutes the second checkpoint. Passion addressing a problem holds business potential, while pure interest remains a hobby. Steve Jobs emphasized that being consumed by your pursuit is crucial. The third checkpoint involves targeting a specific demographic rather than a broad market. The synergy of passion, problem-solving, and precise targeting underpins profitability.
In the subsequent steps, the focus is on niche selection and growth potential. A topic must possess market potential and a projected growth trajectory. However, potential is intertwined with passion, problem-solving, and the target audience. Payment, the fifth element, is contingent on the perceived value of the offer. This process doesn’t just involve riding trends but capitalizing on emerging industries. Industries like coaching, crypto, Blockchain, AI, and unique skills such as content creation and becoming an influencer hold substantial promise.
In summary, a profitable teaching niche hinges on five key factors: genuine passion that solves a problem for a specific audience, market potential, willingness to pay, and alignment with burgeoning industries. The interplay of these elements determines the success and profitability of the chosen teaching endeavor.
Awesome 5 Ps info. Biggest challenge I am facing is whether my niche of “AI Enhanced Leadership” targeted towards working professionals of 8+ yrs experience working in AI space is a profitable niche or not! I could take away the P of “Specific persona” where I can deep dive into the working professionals of that experience cadre more and add more value and resonate well with their problems than the freshers or entrepreneurs.
Thanks so much Sid! You make our life so much easier having walked the difficult route yourself paving our way as you did 🙂
My takeaways:
5 Ps for niche validation
passion for the topic
problem to be solved
particular persona to be targeted
potential in the market has to be there
payment(people should be ready to pay for it)
Passion and obsession from the childhood will be Profitable
Passion is solving the problem to specific in the market
Potential is very important
As Steve Jobs once said, unless you’re consumed by your pursuit, you’re likely to switch paths.
The passion with problem-solving. Passion that addresses a problem has business potential; otherwise, it’s a hobby.
The fusion of passion and problem-solving is driving the growth of my digital coaching business.
The third P underscores the importance of pinpointing your target persona.
Passion and problem-solving must be aimed at a specific demographic.
In essence, profitability hinges on the synergy of passion, problem-solving, and precise targeting. Assess whether your niche aligns with these criteria to determine its potential for success.
So, it’s not just about aiming at entrepreneurs, working professionals, women, or mothers. It could also involve specific segments of society. In this case, it’s those who share a passion similar to yours. The best target market resembles you but might be a couple of years behind – someone with your values and beliefs.
The fourth piece involves selecting a topic with market potential and a growth trajectory. Riding this trend armed with the right knowledge and strategies contributes to my business growth.
However, potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India. High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
Ultimately, the profitability of your chosen niche depends on these five Ps. Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts.
NICHE VALIDATION IS MUST BEFORE STARTING
1. We need to select a niche for which we have a passion.
2. Obsession with passion is necessary to succeed
3. passion solving problem
4. You are earning profit by solving problems
5. You are targeting the people who can relate to your mission.
then your niche is a super profitable niche
1] The first area to consider is your passion for the subject matter you’re teaching.
2] The second checkpoint involves aligning your passion with problem-solving.
3] The fusion of passion and problem-solving is driving the growth.
4] The third P underscores the importance of pinpointing your target persona.
5] your passion and problem-solving must be aimed at a specific demographic.
6] The fourth piece involves selecting a topic with market potential and a growth trajectory. Eg: chatgpt and AI
7] People pay only if they find value in your offer and want to be part of the trend.
Niche Selection Procedure
–> Passion
first Validation point is your passion for the subject matter you’re teaching
Passion come from past Experience
Trends are short-lived; authentic passion endures. Without this passion, sustaining your engagement becomes challenging. It’s this passion that fuels in-depth research and propels you through obstacles.
–> Problem
o Passion that addresses a problem has business potential; otherwise, it’s a hobby
o As Steve Jobs once said, unless you’re consumed by your pursuit, you’re likely to switch paths. Therefore, the initial checkpoint is: do you harbor true passion and obsession for your chosen topic? Otherwise, boredom may set in.
–> Persona
o Specific Audience
o A broad market rarely yields responsiveness. To avoid the pitfall of selling to everyone (which is akin to selling to no one), your passion and problem-solving must be aimed at a specific demographic.
–> Potential
o The fourth piece involves selecting a topic with market potential and a growth trajectory
o Potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India.
–> Paid
o High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
o Booming industries include coaching, crypto, Blockchain, AI, and more. Even offbeat topics like content creation, video editing, and becoming an influencer are sought-after skills.
Conclusion
Ultimately, the profitability of your chosen niche depends on these five Ps. Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts. Research helps gauge this willingness and confidence to charge accordingly.
My takeaways :
1. The best target market resembles you but might be a couple of years behind – someone with your values and beliefs.
2. Establish a strong bond with a specific audience.
3. select a topic with market potential and a growth trajectory.
4. People pay only if they find value in your offer and want to be part of the trend.
5 P’s
1. Passion
2. Problem
3. Persona
4. Potential
5. Payment.
Key Learnings from How I Validate Niche Profitability :
1. There should be Passion of Topic
2. The topic should connected with Past Experience
3. Passion should solve the Problem
4. Target a particular persona
5. The topic should have potential in the market to get the payment
Agree that unless we put our passion to work for us, it will remain a hobby. Nothing wrong in it, but it would be so good to see our passion is solving people’s problem and getting us desired outcomes.
How to check if your niche is profitable. Below are the 4 pointers as per siddharth.
1. P – Passion: You need to have passion for the topic that you are planning to teach. Have a back story or life experience for the same. You need to have obsession with the topic else you will be bored
2. P – Problem solving: Passion should solve a problem else it’s only a hobby
3. P – Persona: Target a particular Persona. Go with the smaller market segment. find people exactly like you but a 2-3 years behind you in the journey. it’s easy to relate when you have something in common.
4. P – Payment/Profitability: People should be willing to pay you for your services. Not only small amounts but big amounts too.
My niche is about Astronomy & Environmental Science. I want to teach people about pollution control so that we can create a clean & green earth in the future where we will be able to be free from all sorts of respiratory problems & live a healthier life. Through Astronomy I want to show them why our planet Earth is the only planet in the whole Universe which can currenly sustain us in the present as well as in the future and there is really no place out there to be starting a colony. So to keep earth clean is a must for all of us to ensure healthy environment for us as well as the future generations to come. i hope this gives clarity to my niche. Also I want to tell people about the various unexplained mysteries & phenomena that happen all over our planet so that they get thrilled about our planet Earth & start conserving its resources as well as clean our environment for a sustainable future. Thats my purpos – to create awareness among the people of our planet.
1) Passion:
-Genuine enthusiasm rooted in personal experience.
-Have passion and obsession, otherwise you will get bored.
2) Problem-Solving:
-Passion combined with addressing a problem creates business potential.
3) Persona/Specific Person:
-Target specific audience to solve the problem with passion.
-Focusing on a niche audience enhances effectiveness.
4) Potential:
-The passion and problem that you are solving should have the potential for growth in the industry.
5) Payment:
– People should be willing to pay for the for potential problem solved.
5 Ps to follow success
Passion – Follow your passion
Problem – If passion does not solve a problem, its hobby. So passion should solve a problem
Persona – Target specific market, specific section of society, avoid generic.
Connect with specific audience and not generic
Potential – Ride with the upward trend of market. Passion addressing the problem to specific persona shall be following upward market trend .
Should have potential to pay.
Payment – should be able to pay good amount for
sidz.co/live
sidz.co./diamond – 10 crore game plan, certification
5Ps
P-Passion (Your Passion should solve a particular problem)
P-Problem (which you want to solve with the passion you have)
P-Persona (specific target market)
P-Pick a topic (which have potential in the market eg stock market, AI)
P-Payment (should be simple)
I think the key point is the potential
Because we may have the passion and everything else worked out but not the micro niche with potential then all efforts to monetize (payment) will go waste and it will remain a hobby.
My takeaway from this fantastic podcast from SIDZ – a PASSION that is congruent to PAST and if it solves a PROBLEM for a particular PERSONA is the first thing – in a market POTENTIAL area – PAYMENT & PROFITABILITY happens
summarised in 7 Ps – great PODCAST
5 P’s for our Profitable Niche Validation are :-
First area id the Passion,
Second area is that your problem should solve a problem,
Third area is that you should target to a particular Persona of your same values,
Fourth area is that the topic should have Potential in the market,
And the Fifth area is that your audience should ready to Pay for it.
Agrees to the points – you can sell a topic that create a value and that can be achieve only if you are you passionate about it and that will come from your past experience. you target marker / people will resonate with your struggle and how its been overcome and that’s how they can see how your topic can solve their problem and only by this one can monetize the process..
Its an Eye Opener. The extract for the business mind required to succeed. I am in the process of refining my niche & the 5P s is the guiding light. I think I have taken care of the first 3 but for last two, I think, I should complete the Curriculum Design and define my courses to move further.
Great Guiding Tool though !
My take way on how to validate your niche profitability
1. Passion – Have the passion in the subject that you are teaching. Passion comes from past experience.
2. Problem Solving – Passion should be solving a problem
3. Persona – Best Target market is somebody just like you
4. Potential – Pick a market that has a growth potential
5. Payment – People will not pay you unless they see a value. People should be willing to pay you higher amounts.
PASSION comes from within not from the trends choose from within
your passion must solve some community PROBLEMS
you must target the SPECIFIC segment with specific problem
include POTENTIAL SKILLS to your passion and solve the problem
then you these things with dedication your are having GREAT INCOME in the form of PAYMENTS
Validating your Niche – key take aways
1. Passion – you must have the passion for the topic that comes from the thread of the past experience.
2.Problem solving – your passion should solve a problem otherwise its only a hobby
3.Persona – the topic or the niche should target a particular persona or a particular segment of the community
4. Potential – the topic with market potential is very critical
5. Payment – If the people not getting any value out of your niche/content they will not pay
There are 5Ps for Niche Validation.
P: Passion : Passion in the subject you want to take and it comes from past experience.
P: Problem: Passion should have the ability to solve the problem. it means passion is solving the problems.
P: Personna: Targeting a particular person rather then targeting all.
P: Potential: It should have the potential in the market.
P: Payment: They most have the ability to pay you.
The message conveyed was simple, straight, connectable and address the issue as promised.
My take aways honestly are,
1.If Passion is the driving force behind planned activity then the consistency is higher
2. Even though we like a subject it should cater the community we are serving
3. only if it provides a solution there would be takers
4. Should be sensible enough enough to design the subject that really carries value
1.The first area to consider is your passion for the subject matter you’re teaching.
2.The second checkpoint involves aligning your passion with problem-solving
3.Your passion and problem-solving must be aimed at a specific demographic
4.The fourth piece involves selecting a topic with market potential and a growth trajectory
5.People pay only if they find value in your offer and want to be part of the trend.
However, potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India. High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts. Research helps gauge this willingness and confidence to charge accordingly.
hello Sidz I like your pod its a very power 5 P formula passion, problem solving persona, potential and payment this power packed pod you make so simple and so solid for us because every word means a lot it is like Gagar me sagar
5 P’s to validate your niche!
Passion: comes from past experience. If your niche ain’t your passion, you’ll get bored and are likely to switch to something else.
Problem: Must solve a problem
Persona: The best target market is somebody who is just like you!
Potential: The must be a growth trajectory. Potential backed with passion is a great formula.
Payment: People must see value in what you are offering.
Validation of niche profitability
My niche Finance
Micro Niche Cost management.
I am a chartered accountant and cost accountant with 20 + years expertise in this field. I have a deep passion for setting up a model for entrepreneurs to follow.
This model is will used to maximize profits for startups.
It is targeted at entrepreneurs (persons). This is mostly for non financial people who are entrepreneurs. And this wil provide results and value for the. Hence this model will pay
My Top Takeaways From This Podcast :-
1) Your Passion Should Solve Problem ; do not choose your passion by a hobby
2) Your Passion Should Connect to your back Story; you should have a strong intution on what you’re passionate about !
3) Your passion should have the potential to solve a problem
Without passion you can not drive the force to reach the goal. Passion and problems with obsession challenge will be to achieved anything in the world.
Passion- past experience- Pattern. It needs to be congruent with you.
Problem- to be big, bigger than you. Problem need to be bigger one- mor big the better. Specialists get paid more than generalists
persona- Particular segment of people. Narrower better. Serving everybody is serving none.
Potential in market to pay- If there is no potential in the market then serving will be a hobby, it won’t make you to get money if that is what you intent to get.
Passion to solve a big problem for a particular persona and there is potential in the market to get you paid.
It is the 5 P litmus test to test one’s niche whether it would be profitable
Hi Sidz,
Awesome listening to your podcast. It gave crystal clear clarity on Niche validation. This is in right time for me. I’m a new member and I just finalized on my Niche last week. I was in doubt about how to validate. This podcast gave me the confidence and I was able to validat my selection. Thank you
Passion-should have love for the topic
Problem -problem in society is to be solved
Persona- right people
Potential- topic should have potential.latest
Payment- people willing to pay
those 5Ps are very powerful..and gives the clarity that will help to take the game to the next level…..
#ilhfamily
This is a mind-blowing podcast that gives a lot more clarity as to how 5Ps are interconnected. my takeaway is as under:
Passion from past experience should solve problems especially money problems of your students & clients. Be specific about the persona and the topic should have potential.
Finally, it should add value to get monetized.
NICELY PODCASTED EVEN I WANT TO DO THIS TYPE OF PODCAST WERE PEOPLE GET VALUEABLE INFORMATION IN JUST 10 MINUTES
Here are the key points and things to remember from the article “How To Validate Your Niche Profitability”:
1. **Framework for Success:**
– There’s a simple 5P framework to check if a topic or niche can make money.
– The five elements are Passion, Problem-solving, Target Audience, Market Potential, and Payment.
2. **Passion and Solving Problems:**
– You should really care about the topic, not just follow trends.
– If your passion helps solve a problem for people, you have a business opportunity.
3. **Know Your Audience:**
– Don’t try to sell to everyone. Focus on a specific group of people.
– For example, teaching European baking or traditional Indian flute playing to interested people.
4. **Connect with Your Audience:**
– Build a strong connection with your audience, especially in specific cities.
– This connection makes people more interested and engaged.
5. **Choose Growing Topics:**
– Pick a topic that’s becoming more popular, like AI or coaching.
– But make sure it matches your passion, solves a problem, and fits your audience.
6. **Value Equals Payment:**
– People will pay if they find your offer valuable.
– Popular industries like coaching and technology have great potential.
7. **Five Ps for Success:**
– Remember these five things: Passion, Problem-solving, Audience, Potential, Payment.
– Doing research helps you understand what people will pay for.
**Key Lessons:**
– Really care about your topic and solve a problem.
– Focus on a specific group of people.
– Choose a topic that’s getting more popular and is a good fit for you.
– Value is what makes people pay, and staying aware of trends helps.
Five P’s of validating Niche profitability:
1] Passion – One should be obsessed or passionate about the chosen topic. Passion comes from the deep level of involvement.
2]Problem solver- That passion should solve a problem for people.
3]Persona – That passion should solve a problem for a specific group or category of people, where the real connection happens.
4] Potential – That topic should have a growth trajectory in the market
5] Payment – which should also be able to receive payments , not only some but even big amounts.
Niche Validity:
1. Passion:
How can you check that you have passion for that topic or not?
answer is from your past experience.
If you are not obsessed with something you do, you will switch to something else.
2. Problem
Your passion should solve any problem in market..
3. Personna.
Very very specific target audience.
You should focus the particular target audience where people can relate you.
4. Potential in market
The topic should have potentiality to serve the target audience.
5. Payment
When People can see the value while you are delivering, they will have a genuine willingness to pay you…
Thank you for sharing this audio Sidz
A Niche can be validated by the following 5 P process:
1) Passion: The Niche should be based on my Passion. Because when I like the topic then therew would be a congruence between what I do & what I say.
2) Problem: My Niche should solve a problem of the other people.
3) Persona: My Niche should target a specific group of people (Persons)
4) Potential: There shold be a potential in the market for my Niche. That means people should value my Niche.
5) Payment: My Niche should fetch payment for me.
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Very clearly you have explained how to validate about our niche and get confirmed whether it’s profitable. And it really helped me to find out in which areas I need to focus while selecting a niche.
Thank you so much Sir.
Takeaways
1- Passion- Follow passion, Not Follow Hottest Trend (You Need Passion, & Obsession)
2- Problem – investigate that passion Solve a specific problem or Not.
3- Persona – Niche down for a specific people (You don’t need to serve everyone)
4- Potential – You need to attention on Potential because your niche is not creating profit This is not for you.
5- payment – and in the end You need find that whatever niche you choose it’s gives more money so it’s for you otherwise it’s waste.
Agar app Mai Siddarth hai toh app Chand ko chu saktey hai aur you can show the people how your passion took you to the path.
Genuine enthusiastic will create the interest of content and research about their niche.
You have to be obsessed with what you do.
It’s not about what is in the trend it is about how passionately you show the world about your passion can create a result of that particular problems .
Not everyone wants to know everything it’s particular group will learn particular interest of subject .Be specific about market and content.
Just find you in others.
Who wil believe in you connect with the persona
Growth 💹 potential is important to get the payment.in the bank is floating.
Aligning with you passion with the problem solving with potential market.
Parna remember 5 P’s 🙂 no one can stop you to get the profitability in your niche.
Hi sids..
Profitability? System of 5 areas for niche..
• Passion for the subject what I am teaching , not by only trend and connected to the childhood..
o Which is relate to our bac story
• Problem solving..
o Should solve specific problem…
• Selling to specific target..
o Like only working women, Teens etc.. with my specific interest
The profitability of your chosen niche depends on these five Ps
1. Passion –
🎉 Passion comes from experience
🎉 Passion comes from deep within you
🎉 Without this passion, sustaining your engagement becomes challenging
2. Problem solving
🎉 Passion that addresses a problem has business potential
🎉 problem solving is driving the growth of your coaching business
3. Persona
🎉 Without persona you did not built your business
4. Potential
🎉 Riding with the right knowledge and strategies contributes to your coaching growth
🎉 Choose that nice or that business who is who have a great potential okay I am back
5. Profitability
🎉 Without profit your business not be sustained
🎉 Your business must be profit from day one
🎉 Profit is the fuel of your coaching business
Above all the pointers are must and must necessary to follow right principles and the right a strategy.
Thank you #Sidz for the sharing this valuable peace of content from this podcast
🎉 once again thank you so much
What I have learned is that, to qualify for a profitable niche we can have checkpoints of 5Ps – Passion, Problem solving, Persona, Potential topic and Payment
Passion is something associated with your past experience and not a hobby,
Problem Solving helps differentiate between making something work which can help you reach more people and earn through it,
Persona is about the right target audience,
And if you do not have a potential topic you will not be paid for it.
I wanted to take a moment to share my thoughts on your podcast and the incredible insights it offers. Your expertise in niche profitability is truly remarkable, and I’ve gained a wealth of knowledge from your episodes.
Your journey of experimenting with various models over the years and then refining it into the 5P framework is truly inspiring. This framework simplifies the process of assessing whether a niche or topic holds profit potential.
Your breakdown of the 5Ps – Passion and Obsession, Problem-Solving Passion, Persona, Potential Topic/Product, and Payment – is exceptionally clear and actionable. Allow me to break it down further:
Passion and Obsession: Your enthusiasm for your subject should be akin to being deeply engrossed in a game. That level of passion is what counts.
Problem-Solving Passion: If your topic addresses a problem, it’s worth its weight in gold. Otherwise, it might just remain a hobby. Be the solution!
Persona – Know Your People: Understand your audience like you would your closest friend. Your ideas should align with their wants and needs.
Potential Topic or Product: Can your idea be translated into something people are willing to pay for? If the answer is yes, you’re on the right track.
Payment – Plan for Success: Financial rewards will come when your idea and strategy are solid. Plan for success!
Your emphasis on establishing a genuine connection with the subject and focusing on problem-solving resonates as the pillars of success.
The insights about understanding the target market and ensuring potential for monetization have been truly enlightening. Your stress on having a well-formed topic and strategy before expecting returns deeply resonates.
Lastly, your counsel to thoroughly research the market and engage fully with your teachings is of immeasurable value. Your podcast is not just informative; it’s a roadmap for transforming ideas into profitable endeavors.
Thank you, Sidz, for generously sharing your wisdom and guiding us on the path to niche profitability. I’m excited to put these learnings into practice and maximize your expertise.
Your passion should solve particular problem to specific persona. Potential and payment is also important.
I have been guiding Civil services aspirants, since early 2000s, achieved lot, but hit by pandemic.
Podcast has been crisp & clear
Profitability of business depends on
• Passion in teaching – past experience
• Passion should solve a problem – then there is business opportunity
• Wide market – there are approx…10 lakh aspirants to become part of Public administration
• Potential of topic that one has chosen in the market – skill to the changing trends
• Payment – is based on value contributed
Five Points to Validate Your Niche profitable or not:
1- passion for the subject you want to teach. Your passion on the subject will help to create an impact & add value.
2-your passion should solve the problem
3- underscores the importance of pinpointing your target persona.
4- Involves selecting a topic with market potential and a growth trajectory
5- F People pay only if they find value in your offer . People buy before buying your product.
Focus on 5 P’s for have profitable Niche
P- passion to what you teach to be intrested in topic .
P- passion to be a problem solver
P- Taget yo particular personna ( of you re selling to everybody you are selling to nobody )
This is an eye opener to discover that target audience is important . Try to focus on your kind of people .
P- Pick a topic which do have a potential in the market to be included in all above 4 P
P- payment will only happen if you add value to the market .
Research about your topic and add value to people makes you to reach the satisfied sales .
Identify a Genuine Problem: Start by pinpointing a real and significant problem that your target market faces. The more acute the problem, the more willing they’ll be to pay for a solution. Your passion should be directed towards solving this problem effectively.
Niche Target Market: Narrow down your target market to a specific group that is most affected by the identified problem. Understanding their needs, preferences, and pain points will allow you to tailor your solution and marketing efforts more effectively, making your offering more compelling to them.
Value and Pricing: Ensure that the solution you provide brings substantial value to your target audience. If your solution truly alleviates their pain points, they’ll be more willing to pay a premium for it. Research the pricing expectations within the industry and among your target customers, and set a price point that reflects the value you’re delivering.
combining your passion with a well-defined problem, a specific target market, and a pricing strategy that reflects the solution’s value can create a strong foundation for a successful business endeavor.
5Ps
P-Passion (Your Passion should solve a particular problem)
P-Problem (which you want to solve with the passion you have)
P-Persona (specific target market)
P-Pick a topic (which have potential in the market eg stock market, AI)
P-Payment (should be simple for target market to pay)
The most Imp Take away from above posdcast is 5 P’s
1: Passion : find your passion not hobby
2:Problem: with that passion when you are able to solve people’s problems then you are o right track of yor niche.
3: Personana: Select specific target market like your kind your people market
4: Potential: Pick a topic which has growth trajectory.
5: Payment: if people dont find value in your service the wont pay.
so find your niche as your passion or skill which you love to do .thanks Sidds its really very helpful Gratitude
Simple 5P framework to check if niche is profitable or not are as under :
1. Authentic Passion; you love it!
2. Aligning passion to solve a problem.
3. Target Persona define precise.
4. Market Segmentation .
5. Market trend and need to follow the trend in the up swing. People will pay if you add value.
Passion must solve a problem for a particular Persona. Gauge the potential of Niche through research.
#ILH
Best way to be successful with a practical and potential Niche. I have complete clarity now on my Niche. Specific target audience with potential market where I can add value
The key learnings from the podcast –
1. Passion – Your passion should be connected with your past experience. You must have passion and obsession for your Niche.
2. Problem – Your passion should solve the problem then only people are gonna pay you for the value that you’ll provide.
3. Particular Persona – You get to target a particular persona. The best target market is who is just like you and 2-3 years behind you. Be specific. Don’t try to involve every single person. This will lead to sure failure.
4. Potential Topic – Choose a topic which has potential in the market and will be there in the future.
5. Payment – People will only pay you when they see value in what you’re providing. It’s more about Value.
should have to for the business step by step.and
plan accordingly to future strategies of market also the niche should be problem solving
Passion: You should really passionate and obsessed about the topic you’re working with. It’s not just about following trends; it’s about having a deep and lasting interest.
Problem-Solving: Your passion should help solve a specific problem or fulfil the needs of the people. This is what turns your interest into a business opportunity and can be monetised.
Persona: Don’t try to please everyone. Instead, focus on a particular group of people who would really benefit from what you’re offering. This makes your message resonate better with the niche you are into.
Potential: Look at areas that are growing and have the potential to become more significant. If your passion and problem-solving fit into one of these growing areas, it will likely be profitable. If the potential is not high impact will be on the next p-payment.
Payment: People will only pay for something if they find it valuable. You need to make sure that what you’re offering is something people are willing to pay for.
By considering these five factors, you can better understand whether your chosen niche has the potential to make money.
My learnings from this post…
There is 5 P framework in order to validate my niche…
1. Passion – Genuinely interested in that topic or expert in. Ask if you are connected with this subject at the heart core level. and that can be identified things which I am good at from my childhood. Without the clarity of the passion, it won’t help me scale up because I might lose my interest and might lack motivation. As steve Jobs once said that if you are not following your passion and obsessed with it then u will be successful otherwise there are high chances that I might change paths.
2. Problem Solving – My passion should solve people’s problem and has business potential. Like I am passionate about helping women to restart their second career as a Freelancer and also earn 30-50k in a month by investing 3-4 hrs a day by upskilling and learning digital designing tool CANVA. Only with this one tool, I have earned 1 lac per month as a freelancer. So I am solving women problems of being financially independent while taking care of home responsibility.
3. Persona – It’s important to connect with your target audience. A specific target audience to whom I need to connect with at core level. I am a mother of 2 and also a freelance and now want to help women like me who once had a full fledged corporate career and now looking for the freedom financially by investing time they have in hand.
4. Potential – There has to be potential in the market. There is a dearth of good designers and entrepreneurs are not equipped in building their personal branding on social media and these freelancers can pick one industry and start serving.
5. Profitability – It’s absolutely profitable as the work and how much value I add in my clients life. I have earned 1 lac by helping only 5 coaches and healers to boost their social media presence.
Amazing lessons !
How to find a profitable niche
5 P Formula
1. Passion – Love for topic
2. Problem – Is it solving a problem
3. Persona – Whom you want to serve
4. Potential- What is the potential of your niche
5. Payment – Are people willing to pay for your solution
You need 5 Ps.
Passion to solve a problem which targets a similar persona (avatar) with a potential market for which people are willing to make payments. One has to have experience and passion from childhood,Niche should have a growth trajectory.
Hey Sidz. My takeaways: 1- Passion- Passion comes from past experience, one should be obsessed with it and it should connect into deep core level. 2- Problem – your passion should be able to solve a problem. 3- Persona – Don’t target wider market, be very specific. 4 – Potential – Growth trajectory in industries. 5- Paymeny – People will not pay you if they don’t see value in what you give.
The “5 Ps” for Validating Niche Profitability:
Passion: Genuine enthusiasm rooted in personal experience fuels sustained engagement and in-depth research.
Problem-Solving: Aligning passion with addressing a problem transforms a hobby into a business opportunity.
Precise Targeting: Focusing on a specific demographic enhances responsiveness and avoids selling to everyone.
Potential: Selecting a topic with market potential and growth trajectory capitalizes on industry trends.
Payment: People pay if they find value in your offer and want to be part of a trend, making research essential for pricing strategies.
How to validate a niche will be profitable or not! – “sidz recipe”
1.you have the passion and obsession of the topic
2.problem identify and solve the problem which can give way to persue the problem
3 persona- the best Target maket where you can connect to write audiences
4. Potential- the potential growth trajectory
5.passion person potential can bring profitable income o your 💡 Idea
My key takeaways
1.Have PASSION in ur topic.
2.Have obsession of ur topic.
3.Passion should solve a PROBLEM.
4.PASSION should solve PROBLEM to a specific target (PERSONA).
5.Willing to PAY.
Thank a lot Sidz, this was amazing learning I had.
I am extremely passionate about Graphology and multiple Healing modalities.
I am extremely passionate about setting up my coaching business and I am highly determined to solve the problems. However, I am solving all the problems of everyone, including Kids, Elder people and even senior citizens.
And it’s a great eye opener for me. Hence, my persona is extremely wide, I need to lower down my target market and make it extremely specific. Although, my persona till now was family, but not sure how long can I ride with that concept.
Healing and Graphology is an amazing science and has booming market since I am working Health healing and then focused on other areas.
This is what i can Understand
The text discusses validating niche profitability from a podcast transcript.
Genuine and lasting passion is crucial for niche engagement.
Passion combined with problem-solving turns hobbies into business chances.
Precise targeting of demographics is more effective than a broad approach.
Connecting well with a specific audience enhances engagement.
Niche choice should align with growth potential and industry trends.
Value drives payment in sectors like coaching, crypto, and AI.
Five key factors determine niche profitability: passion, problem-solving, targeting, market potential, and willingness to pay.
Researching audience willingness to pay builds confidence in niche profitability.
Aligning passion, problem-solving, marketing, trends, and value leads to a profitable niche.
Success in these aspects can result in sustainable income.
NICHE VALIDATION IS MUST BEFORE STARTING
1. We need to select a niche for which we have a passion.
2. Obsession with passion is necessary to succeed
3. passion solving problem
4. You are earning profit by solving problems
5. You are targeting the people who can relate to your mission.
then your niche is a super profitable niche
Reply
Important of five P’s. Passion, Problem solving, Persona, Potential, Payment.
My niche is Financial Planner, I educate on products which are suitable to their requirements, those who want to protect their income, grow their income, pass on legacy to their family. When we came to USA no one is their to educate on kids education, stock market, losing money is not a good idea.
Thanks for adding your insights to the conversation. Much appreciated!
My takeaways:
travel a trend with value system
have obsession on what you do
passion should solve a problem
potential in the market
Passion
Persona
Potential
Thanks for commenting!
HOW TO VALIDATE YOUR NICHE PROFITABILITY
5Ps
Passion- Authenticity of Passion will endure. Steve Jobs – Unless consumed by pursuit we will be always switching paths.
Problem – Passion should solve a problem.
Our Passion and Problem-solving should connect to a persona.
The three Ps should have Market Potential
Payment – The fourth P will lead to payment.
Awesome!
Thanks a lot Sidz for this mind-blowing podcast 👏🙌 . Agree 💯….Just loved the 5 P’s to scale your business with profitability in your niche, as follows :
First P : you should have intense passion whatever you are doing otherwise your time will go waste
2nd P: It is Problem …so your passion in the topic should have ability to solve people’s problems.
3rd : It is about having perfect persona ….so you should particularly targeting specific audience.
4th : It is about potential…..should check that your niche or passion have that potential to change mindset.
5th: it is about payment …..so if all above four P is working in sequence properly then definitely you will get paid for your topic.
So , do it from heart with passion otherwise your topic will remain only as an hobby …so figure it out with help of 5P accordingly 🤝👏😃
Thanks for adding your insights to the conversation. Much appreciated!
THIS PODCAST IS REALLY HELPFUL. I AM HAPPY TO JOIN THIS COMMUNITY, I HAVE BEEN ABLE TO BETTER MYSELF WHEN I AM CONNECTED TO ‘ ILH’ . I REQUEST YOU ALSO TO JOIN THIS COMMUNITY. THANK YOU
Thank you for your thoughtful comment!
When I completed watching Niche Clarity Blueprint, I faced this conundrum of choosing between a niche that I have been working in for 6 years and one that was new, and hence scary and challenging.
Niche 1: Safe niche: English training. I had been an English Trainer for the last 6 years. The money was okay, and the topics were interesting, but I had no connection with the topic. I have never struggled a day in my life to speak English. So, the question I had was: How will I understand the problem that a person struggling with English would face?
Niche 2: Challenging, but exciting topic. Helping youngsters find their purpose. My journey after graduating from college has not been a conventional one. I have struggled through various stages, trying to figure out what I really wanted to do. It resembles Joseph Campbell’s “A Hero’s Journey.” Helping youngsters who are struggling to figure out what to do would fulfill me as I wish I had someone to help me when I needed the most.
I have decided to go ahead with Niche 2. Sometimes, taking the path less travelled is what would lead to a fulfilling life.
Love the attention to details in your insights!
Thank you, Siddharth!
Awesome podcast on niche profitability, from this podcast I learnt many things on how our niche should be, passion comes from a past, pattern of our niche should not from childhood or past, if yes then niche isn’t profitable
If there is no passion, there will be obstacles and can’t do deep research.
Obsession and passion comes very hard deep from heart. It should be solving problems so that people can give you money. For a high profitable niche , you don’t have to be formally highly educated. There are five P’s of niche.
P – Passion
P – Problem Solving
P – Persona
P – Potential of the market
P – Payment
The best target market is people like us.
Thanks.
Thanks for adding your insights to the conversation. Much appreciated!
Your emphasis on turning passion into problem solving is golden. It’s a refreshing reminder that hobbies can transform into thriving businesses when they address real issues.Your examples of niche focused success stories, from European home baking to traditional Indian art forms, show that understanding your audience deeply can lead to significant earnings. Tailoring your passion to a specific persona resonates powerfully.
Your strategy of aligning passion , problem solving , and targeting with emerging trends is both strategic and insightful.
Your words remind us that it’s not just about hopping on trends but contributing meaningfully to their growth. Your insights are a compass for entrepreneurs seeking both purpose and prosperity.
Your podcast’s systematic approach is a treasure trove for budding entrepreneurs. The way you have navigated your own path, from focusing on your city to expanding across industries , illustrates that the course to profitability is dynamic.
I’m humbled by your kind words. Thank you for commenting!
The 5 Ps are very well articulated and gives an objective criteria and that is important. At the end of day, most important is the content and unless it adds value, no matter how good we are at presentation, it will not work on the long run.
The content therefore is well objectively defined in the 5 PS.
However, I would like to add one more important thing — that is Communication and unless it is done in a simplified and easy manner, it will not work.
The 6th P in my view is Presentation. Success will not happen unless this part is mastered and it takes time and requires some practise.
Awesome insights!
==> Niche Selection Procedure
–> Passion
o first Validation point is your passion for the subject matter you’re teaching
o Passion come from past Experience
o Trends are short-lived; authentic passion endures. Without this passion, sustaining your engagement becomes challenging. It’s this passion that fuels in-depth research and propels you through obstacles.
–> Problem
o Passion that addresses a problem has business potential; otherwise, it’s a hobby
o As Steve Jobs once said, unless you’re consumed by your pursuit, you’re likely to switch paths. Therefore, the initial checkpoint is: do you harbor true passion and obsession for your chosen topic? Otherwise, boredom may set in.
–> Persona
o Specific Audience
o A broad market rarely yields responsiveness. To avoid the pitfall of selling to everyone (which is akin to selling to no one), your passion and problem-solving must be aimed at a specific demographic.
–> Potential
o The fourth piece involves selecting a topic with market potential and a growth trajectory
o Potential ties back to passion, problem-solving, and the targeted persona – experts, coaches, teachers, and trainers from all over India.
–> Paid
o High potential sets the stage for the fifth P, payment. People pay only if they find value in your offer and want to be part of the trend.
o Booming industries include coaching, crypto, Blockchain, AI, and more. Even offbeat topics like content creation, video editing, and becoming an influencer are sought-after skills.
–> Conclusion
o Ultimately, the profitability of your chosen niche depends on these five Ps. Your passion must solve a problem for a particular persona. There has to be market potential, and people should be willing to pay substantial amounts. Research helps gauge this willingness and confidence to charge accordingly.
Thank you for taking the time to share your thoughts!
Very nicely explained about Niche picking & proceed the goal with the same.
1. your passion for the subject matter Without this passion, sustaining your engagement becomes challenging.
2. aligning your passion with problem-solving. Passion that addresses a problem has business potentia
3.importance of pinpointing your target persona.your passion and problem-solving must be aimed at a specific demographic.
4. selecting a topic with market potential and a growth trajectory.
5. the profitability of your chosen niche depends on these five Ps.
HOW TO VALIDATE YOUR NICHE PROFITABILITY
Passion
Problem
Your Passion and Problem solving should connect to a persona.
Market Potential
Payment
Thank you for taking the time to share your thoughts!