Ask HN: Methods for finding niche business opportunities

For non-startup type products (small niche softwares, affiliate websites, or to ensure easy SEO traffic), I do the following:<p>- I list the frustrations I had in the last two months<p>- I list the list I like to do<p>With that list, I head over to google keyword tool, and search for keywords related to what I found in step 1 that have more than 3000 searches per month and less than 30000 exact keyword pages in google (the 30 day challenge method: <a href="http://thirtydaychallenge.com" rel="nofollow">http://thirtydaychallenge.com</a>)<p>I keep brainstorming until I find a list of keywords that are in demand but have low competition (When you are a one man show, you'd rather focus on a non-too-competitive niche).<p>Then I use Market Samourai to check the competition on the first 10 pages of Google to ensure I will be able to rank my website high in Google on my keywords.<p>Next, I put up a website a la Tim Ferriss to test the market a little bit more. This method only adds value if the test tells you you have a profitable product. If you can't prove it during the test, it doesn't mean you should stop.<p>In parallel, I "talk" (surveys, interviews, forums) to as many potential customers as I can.<p>If I feel I am to something, I start coding :)<p>I wrote about this very topic on my blog.<p>I published my frustrations there: <a href="http://aymeric.gaurat.net/index.php/2010/my-frustrations/" rel="nofollow">http://aymeric.gaurat.net/index.php/2010/my-frustrations/</a><p>How to test the viability of your idea: <a href="http://aymeric.gaurat.net/index.php/2010/how-to-test-the-viability-of-your-online-business-idea/" rel="nofollow">http://aymeric.gaurat.net/index.php/2010/how-to-test-the-via...</a>

Shameless selfpromotion:<p><a href="http://000fff.org/a-simple-model-for-innovation/" rel="nofollow">http://000fff.org/a-simple-model-for-innovation/</a><p>I wrote this to help people cover the possible option spaces.<p>Basically there are four areas that your product or service can compete in:<p>1) Do what others do, but do it better. 2) Do what others do, but do more. 3) Do what others do, but for a new audience 4) Do what no other is doing<p>The obvious space you want to be in is obviously 4) when it comes to niche business. But one often overlooked area is 3) where you take an existing product or technology and repurpose for a new audience.<p>My old marketing teacher told us a story about a company that he used to for worked for.<p>The company sold heavy duty soap for industrial use but weren't doing well.<p>The company had a lab that he would often spend some time in to see what was going on.<p>One of the things the lab had been playing around with was the color of the soap. One of the soap colors where bordering pink. It also just so happened that his daughter loved everything that sparkles. So they ended up making a soap that was pink with small sparkling bits in it, much less dry sold it as Fairydust or something like that for kids.<p>According to him it was a great success. And none the less it's a great way to explain point 3)

Talk to people who have money and problems. Ask them what their problems are. Figure out which problems are tractable to a software solution. Sell solution for money.<p>Also, anything you've ever seen on a retail shelf has to move $100k gross a year or it can't justify being made. Many times that if it is at Wal-Mart. Consider whether you can make software which competes with the physical good.

I use market samurai. I wrote a review about it today <a href="http://freestylemind.com/market-samurai" rel="nofollow">http://freestylemind.com/market-samurai</a><p>It's a genuine review and I really recommend it for internet marketing. That said, there's my affiliate code in it but you can access the product directly from <a href="http://www.marketsamurai.com/" rel="nofollow">http://www.marketsamurai.com/</a>

Google Adwords Keyword Tool or Wordtracker (if you want to pay for it)

MicroNicheFinder, it looks like another one of those Internet marketing apps with a splash page but it's very good for niche &#38; keyword research.

I can't help but think of this article on Study Hacks. In particular, scroll down to the section called The Insider Advantage. <a href="http://calnewport.com/blog/2010/03/26/how-to-get-into-stanford-with-bs-on-your-transcript-failed-simulations-the-surprising-psychology-of-impressiveness/" rel="nofollow">http://calnewport.com/blog/2010/03/26/how-to-get-into-stanfo...</a>

ruby -e '%w(proven_to_work_good_ideas_like_task_management_or_erp.txt professions_and_niches.txt).each_with_index{|x,y|puts (a=File.read(x).split("\n"))[rand(a.size)]+((y==0)?" for":" :)")}'