Looking to not reinvent the wheel with your online business idea as a professional? Well, I have for you the top 5 business ideas for the aspiring professional entrepreneur with a highly-skilled/technical background.
If you’re background is in:
- legal services,
- debt management
you may already have the tools, talent and drive to launch a successful (professional) brand right out the gate.
Sometimes you have to Keep It Simple
It’s tough to decide on a niche, and many people (myself, included) will tell you to choose one that you are genuinely interested about. You know, the one you’re passionate about. While these people undoubtedly have good intentions, following your heart is not always the best move.
Think about it. You could be passionate about 😶 cleaning dog poop, 😶 for example, but is there a profitable market for it? Probably not. If you want to make a decent (or comparable) income online, you may want to choose a niche market with a lot of earning potential. Once you have discovered what that is for you, put your heart in it, and the money will soon follow.
But Ms. Kenni, I just want to work for myself. I have all this experience in my field but I’m not sure that translates to a viable business…
If you are new to online marketing, then knowing what the most profitable niches are would certainly help you make a good decision when it comes to choosing the business you are going to start. There are hundreds of niches you could choose from and as a newbie, you might be overwhelmed with all the choices available. Getting an idea on which markets are lucrative can give you a head start in your new endeavor.
Here are the top five most profitable professional industries right now for entrepreneurs:
1. Insurance: The insurance niche is the most profitable today; there is a high demand for insurance products, and insurance companies would pay top dollar for every single click.
2. Attorney/Lawyer: Attorneys offering their services online face a very stiff competition and in order to bring in more clients, they invest a lot of money in advertising.
3. Finance (Debt): Many people go to the Internet to apply for loans or get information on how to get out of debt. This market is huge, and tapping a segment of it (loan, debt help, mortgage, etc) is an excellent idea.
4. Employment: Everyday, countless people go online to search for jobs. If you have a website that can help people find employment, then you are off to a great start.
5. Relationships: One of the most important aspect of people’s lives are the relationships they keep, and a niche on dating, marriage, or family is certainly very profitable considering the money people are willing to spend to make their relationships work.
As noted before…
Please note, just because these are highly profitable niches, you might have to deal with very stiff competition. And we talked about highly-competitive markets in an earlier article.
There are lots of big players in these niches so be prepared for a hard battle ahead- but it’s not impossible. Tip: It would help if you dig deeper into these topics using a keyword analysis tool so that you can find keywords or keyword strings with significantly lesser competition (terminology: keyword strategy & keyword research #Free99).
You will fare better using this approach considering that you still have to build a site and optimize it to get a good amount of organic traffic.
Traffic leads to Brand Awareness
It would be a mistake to fight against the top players who have already set up strong authority sites and also have the money to invest in them. Once you have acquired the necessary marketing skills, then by all means, challenge the big guys.