I’ve received a number of emails from people who are interested in joining my next intake for Blog Mastermind 2.0, but are worried that their topic won’t make money.
All the emails ask some kind of variation of this…
Yaro, I’d like to take your course. Do you think my topic XXXX will work? I don’t know if I can make money with this subject? What do you think?
There’s no point starting a blog about a topic that won’t make money (unless you just want to blog for the sake of blogging and not as a business), so it’s a question worth asking.
So, let’s ask the question…
How Can You Be Sure Your Topic Can Make Money?
Over the years I’ve constantly evolved my advice to new bloggers regarding how to choose a profitable topic.
The changes are a reflection of my own experience helping people and the current landscape we face online.
Today the big difference is most markets that can make money online already have people making money in them.
Yes this means the competition is already there, but it also means we don’t have to guess whether money is being spent.
When money is being spent, you just need to figure out how to place yourself in front of that money with a superior offer.
As a result, my first piece of advice to determine whether you can make money in a market is to answer this question…
Are there any businesses or people currently making money in the same topic you want to go after? (Question 1)
You can usually find this out by simply heading to Amazon.com to see what is for sale. Google can also help, as can searching for existing blogs, e-commerce stores, or popular social media channels or groups (since people often talk about products they buy on social media).
My secret tip for the research phase is to imagine you are your potential customer. How would they go about finding the product they need? Think like a customer and you can learn a lot.
Once you determine there is money being spent, then you need to decide how you fit in.
It’s vital that your strategy does not attempt to just replicate what is already on offer. You need to find your point of differentiation, your advantage – some kind of strength that gives you an edge.
Which leads me to the second key step…
What advantage can you take into a market so people decide to spend money on your solution? (Question 2)
I recommend you turn inwards and assess any existing strengths or advantages you have.
This may be a skill, or talent, or qualification you possess, or it could be an experience you had that lead to a unique insight. Powerful stories help, as does access to technology that others do not have, or even a certain relationship or contact can be an advantage.
For most of my previous graduates, their strength comes from experience – from overcoming something in their own lives.
When you have solved a problem or achieved something or gone through an experience that others want to replicate, then you have a unique strength.
Once you know there is money being spent in a market, and you have a strength you can tap into, the rest of the process becomes systematic.
Your job is to run a lean test using a minimal viable blog sales funnel experiment. By that I mean you make an offer to solve that problem using a product format you can deliver quickly, for example phone coaching or freelance work or a small/simple version of your product.
The purpose of this experience is straightforward – get yourself your first buyers.
Nothing matters more than getting buyers if you really want to know if your topic is profitable. If you can get yourself 5 to 10 customers from a basic offer, that usually means you have the potential for a business if you scale up the numbers (more traffic, more product and thus more customers).
As much as I can help as a coach, no person can answer the question for you of whether your topic is profitable or not. Only your market can tell you that.
The key is to focus on the problems people have and how they spend money to solve them. Never guess and never assume anything about your market just because you think or feel something. You only know for certain when you make an offer.
A Special Bonus: My “Blog Money Finder” Program
I knew as part of Blog Mastermind 2.0 I’d have to provide something that addresses the issue of how to find profitable topics.
By far the biggest challenge new bloggers face is the topic selection issue.
How can you start your blog with a proven profitable topic, to increase your chances of making money?
This is the puzzle I sat down to solve when I began creating a special pre-training program for the new version of Blog Mastermind.
After mapping out an entire mini-course, I got busy recording it into a special one and a half hour program, plus checklist, tasksheet and additional 20-minute implementation training video, all focused on helping you get as close to a guarantee of picking a money making topic as possible.
I call the program the “Blog Money Finder”. This is a training course that really goes deep into finding a profitable topic perfect for you.
There’s a lot of strategy involved in this decision, plus plenty of self reflection and of course, some research too. To really understand the emotional needs of the people in a market and how your unique personal strength fits in takes a level of insight that most people never bother to go “deep” into.
The Blog Money Finder will help you gain the depth of understanding you need to truly see where you fit in and who you are best built to help.
It’s the perfect first step before beginning Blog Mastermind 2.0.
Did I mention it’s a FREE bonus?
That’s right, you receive the entire Blog Money Finder program as part of your registration for Blog Mastermind 2.0.
If topic selection is your challenge, if you’ve never made money online before because you went after the wrong market, this is the training you need.
I think every blogger should go through this training, even if you are already successful. No one knows enough about their market especially when it comes to emotional decision making.
To begin the Blog Money Finder program all you have to is sign up for my Blog Mastermind 2.0class.
The Blog Money Finder program is available immediately once you login to my membership area as part of your “pre-training” before you stat the core Blog Mastermind workshops.
I know you will love the program and I can’t wait to learn more about your project.
To your blogging success,