My aim is to produce products that can be totally automated that help a new class of digitally savvy business owners who are not technical to get their business to their first 100k. There are hundreds of types of markets and personas that might fit into this broad category, but I think it’s an exciting space, that’s why I am choosing to focus on it. That being said, I want to be more pragmatic about how I select a specific niche and a problem to work on.
A quick brainstorm has produced the following list of ways that people can make money from home / online.
- Matched betting
- Selling information products (live classes, on demand courses & ebooks)
- Done for you services (marketing, accounting, copy writing, remote assistant, coding, sales development)
- Content Creator (Blogger, YouTuber, Social media influencer)
- Selling templates (WordPress, PowerPoints, Bootstrap, Calculators / Spreadsheets)
- Lending money (Lending circle, Zopa)
- eCommerce Arbitrage (eBay, Shopify, Dropshipping)
- Micro SaaS
- Affiliate Marketing
- Renting (Spare room, valuable goods)
- Selling your own / branded products
- Rent to Rent
- Mailing List (Jacks Flight Club, “Things to do in London”)
- Online Gambling
- Selling gaming assets (Hard to get; resources, skills or characters)
- Content Curator (aggregating different content from different places, forums)
- Selling subscriptions to premium content or access
- Audience builder(?)
I am thinking about these markets in different ways;
- What are the barriers to entry and how easy are they to access?
- How accessible are the people who are in this market?
- Are these markets big and growing?
- Do these markets have participants with a significant amount of capital?
- What phase do I want to interrupt? (It’s often much easier to convert a sale if there is a grounding of the need in a transition – getting married, switching from validating to growth stage, starting a business from home)
- Is there a cheap way to get to the first batch of customers?