Here are 4 reasons why you should be starting a niche website, and 3 reasons why you shouldn’t start a niche website.
There are about ten bazillion different ways to make money online these days, but almost all of them come back to one core thing—having a website.
If you don’t have a website, you don’t get to play ball. It’s like walking into a major league batter’s box with a stick and thinking you’ll hit a home run. It’s not gonna happen.
I do believe that if you start a niche website, it can potentially be the stepping stone to something much more down the road for you. Even if the niche site is not much of a success, you will build skills that build off themselves that you can use in almost any business.
Let’s start off with the bad first, shall we?
3 REASONS YOU SHOULD NOT BE STARTING A NICHE WEBSITE
#1: It’s Not a Home Run
Frankly, this one could fall under either a reason to start a niche website, or a reason not to.
Everybody wants the home run. Everyone wants the $1 million idea—but the $1,000 one just isn’t good enough for many. This is a fool’s chase, because the likeliness that the first idea you have is a million dollar idea is low.
But yes—most small niche websites focused on selling a product are not going to make you a millionaire, or ever break more than $1,000 a month.
If the home run is what you desire, it’s not for you.
#2: It Takes Creative Juices When Starting a Niche Website
Plain and simple, you either need to be able to write—or hire the right people to do it for you.
Having done this for a little while now, I can tell you the best strategy is to try to a do a combination of both of these.
Of course, this how advanced you are.
If you have a successful income stream and can afford—by all means. Hire it out—especially the articles you just don’t want to write. It’s too easy to become a “draft-writer”—the guy who has a million drafts in his WordPress dashboard, but very few published posts.
Actually, this post is a great example; it’s been sitting here for months.
But, if you’re the guy who doesn’t have any experience with online business—you gotta start somewhere. Trying to take the shortcut of hiring it out right away will probably come back to bite you later.
#3: Work Now, Get Paid Later
I am going to make assumptions here—the guy who is working on Wall Street and making $500k a year is not looking to get into this business.
He’d be far more likely to take up something like daytrading, or leverage his current capital to buy a business (even a website) that is already successful to an extent.
Said Wall Street banker is simply not playing in this market, at all. That means that those pursuing starting a niche site are typically those who are in different financial positions—likely a 9-5 that you’re less than enthused about.
It’s not going to make money right away. It will take probably at least three to six months to see serious results (and that’s if you do it right).
Delaying gratification is one of the most difficult things you can do, but it’s well worth it.
4 REASONS YOU SHOULD BE STARTING A NICHE WEBSITE
#1: You Must Understand the Alternatives
Let’s get one thing clear—there are a lot of online business opportunities out there. However, many of them are going to be client and service based.
And nobody really wants that—be honest with yourself about whether you do, too.
Do you dream of having to hunt down clients for work, sell them on yourself, do the work, then try to chase down their late payments?
I know I didn’t.
Now, that’s not to say that that kind of work is bad. Everybody should try their hand at freelancing at some point, simply because it can be a stepping stone to greater things.
Of course, “freelancing” can be greatly expanded on, and it’s important to understand that. “Freelance Programmer” could easily turn into “Senior Technology Consultant”.
If “freelancing” became “outside consulting with a Fortune 50 company for millions”, you’d sing a different tune, wouldn’t you?
#2: So What Do You Really Want?
Do you want to have to hunt down the clients and do the work…
…or would you prefer to wake up to money in your account?
Easy decision. The thing is, if you start a niche site and do the work yourself—guess what, you’re going to learn a lot.
I mean, look at myself as an example. I used to be a computer engineer. Now I’m a blogger, product creator, and whatever other titles you want to put on it.
But, imagine the things I’ve taught myself over the last few years:
- Search engine optimization
- Building and optimizing [eafl id=”13559″ name=”ConvertKit” text=”email campaigns”]
- [eafl id=”12431″ name=”Thrive Themes” text=”Web design”]
- Graphic design
- A/B testing
- [eafl id=”12457″ name=”Bluehost” text=”Back end web hosting”]
- Product creation
- Product launches
And the list goes on.
Think about that list of things that I know at an advanced level now.
I could walk into a lot of companies with that skill-set. I’d for sure blow away any and all new college graduates. I’d probably walk over a lot of their current staff, too.
The reason? I’ve done it all myself, from scratch to nothing.
Starting a niche website can absolutely give you a skill-set that you can use to leverage into other parts of your life—whether it be a “real job”, starting a new company, or whatever else you have your sights set on.
#3: Starting a Niche Website is a LOW Investment
There aren’t many businesses you can start out there for less than a few hundred bucks.
[eafl id=”12457″ name=”Bluehost” text=”Web hosting”], if you don’t have it already, will run you about $100 for a year. [eafl id=”13656″ name=”Namecheap” text=”A domain name is $10″].
A premium set of themes (I use [eafl id=”12431″ name=”Thrive Themes” text=”Thrive”]) will set you back $200+, but [eafl id=”13668″ name=”Themeforest” text=”there are plenty of alternatives.”]
Overall: You could easily spin a website up for less than $150—and that $150 is a one-time investment.
Apart from the domain, you can utilize the other resources multiple times (i.e. you can host more than one site on your hosting, and use your theme multiple times).
#4: Passive Income is Beautiful
Simply put, I strongly believe small niche websites are the best way to get your foot into the ‘passive income’ door.
Of course, I hate that term. It’s not passive, at all. It requires real, serious work up front. But once the work is done—it’s done. It will continue to make you money if you did it right (potentially forever).
That first sale that happens while you were sleeping will be an amazing feeling, I can promise you that.
And that is true freedom.