Day Two of the 30 Day Challenge focused on identifying viable niche markets to pursue. Before delving into the details, Ed Dale cautioned participants to avoid “Major League Niches” such as weight loss, dog training, real estate investing and health related topics. With that said, Ed went on to provide participants with the following list of tools to generate ideas:

  1. ebay Pulse – this site helps to focus on what people are buying
  2. Technorati – this site helps to focus on what people are talking about
  3. Google Groups – this site helps to focus on what people are passionate about
  4. Google Trends – this site helps to focus on what’s “HOT” on any given day
  5. Yahoo! Answers – this site helps to focus on what people are concerned about

With this list in hand, our task was to research various areas of interest and create a list of seven (7) markets. So off I went and came up empty until I began to peruse Yahoo! Answers. I found this to be the best research site to generate ideas for potential niche markets. I then visited the 30 Day Challenge forum and found that participants were providing additional sites for research. (Community effort is a beautiful thing.) From those lists, I found Google News-Most Popular and Amazon New Releases to be quite useful.

My research was also enhanced by a podcast I recently listened to by Leesa Barnes (released on April 27, 2007) through The Podcast Academy. Although a Canadian, which I will not hold against her, she provided some resourceful information on targeting consumer interests. She noted that in a recent Canadian survery, consumers were most interested in:

  • Arts & Entertainment
  • Technology
  • Comedy
  • Music
  • Business

Armed with what I felt was sufficient information, I created my initial list of markets and am looking forward to the next steps….

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