Part of the competition involves e-book vendors who sell old and sometimes out of date e-books at low prices. Those who wish to sell the same e-books must do so at even lower prices and are therefore unlikely to make much money.
The best thing to do is to start your own niche e-book business, or one that targets a small, narrowly defined market, to differentiate yourself from others in the industry.
The important thing is to target a narrow, carefully defined customer base because this is key to your success. For example, if you are a work at home mom, you could sell books on child care for female entrepreneurs.
You can either write your own books or sell those written by others, but by targeting a carefully defined market you will be casting yourself as an expert in your field.
Once you have brainstormed to create a list of potential niches for your business, you should do a bit of research. Even if you don’t intend to write your own e-books, such research can help you to understand your market and better promote your business.
Good places to gather such information are websites devoted to your niche topic and online forums. Participate and ask questions. Find e-books devoted to your topic. Research, research, research!
Now comes the time to narrow down your list of niches and find out which ones have enough customer demand. If you want a profit-making business, you must be sure that there are actually people who are interested in buying the product you intend to offer.
Using Google’s keyword tool, you can enter your keyword or phrase to see a list of related terms that searchers have entered during the past month, along with the number of times they’ve actually searched for your phrase and all related phrases. This can give you a general idea of interest and demand.
Next, of course, it is necessary to determine the level of supply in your market. You can do so by entering your keywords into Google’s main search engine (surrounding them with quotes) and seeing how many competing websites turn up.
The total number of search matches found will give you a general idea of supply. You’re looking for topics that have a relatively high demand but low supply.
This is not to say that you should be looking for topics with absolutely no competition. It is important to emphasize that some competition is actually good! This means that there is some demand (and profit potential) in that niche or else there would be no other businesses already operating there.
Furthermore, some competition will provide you with a pool from which you can draw affiliate and joint venture partners. It can also provide you with places and forums on which to advertise to draw traffic to your site.
The key to remember here is not that supply should be nonexistent, just that it should be low relative to consumer demand. A niche that has relatively low supply but high customer demand is an ideal one. This is a great niche around which to develop your website and product.
Although the steps of writing and research can be time-consuming, you can speed up the process by finding some ready-made niche PLR (private label rights) packages. Such packages should give you the right to edit them, so if they don’t exactly address the subject of your niche, you can make them do so. You can create a website using WordPress or a third-party HTML package for the Mac such as RapidWeaver or Sandvox.
Once you start experiencing some success, you can begin developing your own products. And of course, you can always join affiliate programs and joint ventures to sell other people’s products.
The key is to dominate a niche so that when anybody wants information about your particular market, they will think of you first!