7 little-known niches that could make you a boatload of money

When I started my journey into the online freelancing world 3+ years ago…

I honestly had no idea what I was doing.

At the time I was a proud MBA graduate and thought business was all about profit margins, hard sales and reverse supply chain analysis (whatever the hell that means)…

But after playing business for a few months and finally hitting a point to where I actually had to do business, well, that’s when things got tough.

No matter how hard I worked or how many credentials I had behind my name, I couldn’t land a client to save my life and after realizing I couldn’t do this on my own — I finally swallowed my pride and hired a coach who’d been in my shoes.

He started off by going through all my material, mainly so he could get a better idea of what I was trying to do, and after looking through this for a couple days…

I received an email with a lot of suggestions, but one thing really stuck out to me:

“What niche are you targeting?”

This caught me off guard as I was a new freelancer and wanted to get all the business I could get (duh Danny)…

So I simply replied to his email, telling him I could work with any business that did less than $5M/year in revenue. Pretty defined, I know.

After seeing this I think he realized how lost I was, so he sent me an entire info packet explaining the importance of niches, positioning and the right target market…

All things I’d heard of throughout my years of education, but not something that was ever on a test, so I hardly paid attention to it.

Anyway, I was confused why he was so worried about this, but at the same time, I didn’t really know what else to do…

So we went through a short interview and determined I was going to become a Copywriter for Tax Firms.

I was scared about limiting my opportunities at first, but I figured if I could get at least one client then it’d be worth it (and I could always expand out later)…

So I moved forward with this new niche, and to my surprise, over the next week I landed 2 clients:

Excited, yet still somewhat skeptical on niches…

I reached out to my coach asking why this works so well.

He went onto tell me all about the underlying psychology of this, and how in the simplest terms, people don’t really care about experience or credentials…

They care about relevance and how much you understand their exact situation.

This made sense to me as I had a good understanding of Tax (IRS Enrolled Agent) and could talk about it all day, so even though I was competing against other writers who had 20 more years of experience than me…

None of them had the same relevance (because I was positioned as a copywriter for tax firms)….

And that’s what helped me get my first gig, in a brand new category.

Then I started applying this to other businesses

After seeing these results and realizing there were legitimate ways of making money online, I started digging into things and seeing what other businesses I could create.

I came across a plethora of information, like creating a blog, getting adsense, affiliate marketing and every other form of business out there…

But the one thing that really stuck out to me was dropshipping.

I guess I’m not sure why I was so obsessed with dropshipping, but I really liked how I could set something up and let it operate on its own (yes, I read the 4-Hour Workweek right before this)…

So I applied my existing knowledge of niches, created a Chicago Cubs store, and started “selling” free W flags.

My friends laughed at me for doing this and asked why I’d limit my opportunity as I could easily just make an MLB store, but I knew that was too vague of a niche so I went forward with it anyway…

And within 48 short hours, I’d gained over 50 sales and had an e-commerce store that was already profitable.

Long story short, there’s a lot of things I’d like to tell new entrepreneurs, but one of the most important things that can help you quickly expedite your results is a powerful niche.

Now I’m at a good place in my career and really don’t need a new niche to help me stand out, but I can’t help but constantly look for new niche ideas that could help aspiring freelancers make money….

And here’s 7 of them that you should take advantage of right away:

Niche #1 — LinkedIn Profile Creator

2 years ago I laughed every time I saw this type of job posting, today I think something’s wrong if I don’t see one every 3 minutes.

It seems like everybody and their dog understands the importance of LinkedIn profiles anymore, and if you can create a profile that attracts prospective employers…

Helping them land a job and in turn, more money — then they’re going to pay you a good chunk of change for it.

How can you get started on this?

From an actual LinkedIn standpoint, I honestly have no idea as I’ve never really looked into it, so it might not hurt to take a quick course on Udemy…

But I do know that with any profile (LinkedIn or otherwise), you always want to make it about your reader.

This will obviously differ depending on who you’re targeting (i.e. client vs employer), but simply telling them how your skills will benefit their company goes a long way…

And the easiest “hack” to ensure this is by using “you” more than “I” in all aspects of your profile.

Pros of this niche: A LOT of opportunity and very few people are positioned as LinkedIn profile creators, so you’d never have troubles finding work.

Cons of this niche: It’s not really consistent work so you’d be spending a little more time “hunting”, but you can just charge a little more and overcome this hump.

Also, most people like to see exact results…

So I could see that being a little bit of a challenge, but if I was ever going to enter this niche, I’d just optimize my own profile then show prospective clients how many recruiters or employers had reached out to me afterwards.

Niche #2 Explainer Video Script writer

I don’t know if you’ve noticed this or not, but videos are HOT right now.

It seems like every business is trying to connect with prospective customers via video, and one of the most common ways is “explainer videos”.

If you’ve never heard of an explainer video before, it’s one of those 1 minute videos that gives a quick intro to a product (or service):

Which is awesome in itself, but here’s the best part(s) — they’re really not that hard to do and people pay a lot of money for them.

Don’t believe me?

Well, my first script writing job (when I had zero experience) paid me $75/hr…

And all I did was read, “Story: Style, Structure, Substance, and the Principles of Screenwriting by Robert Mckee”…

Then created a few examples I could share with prospective clients, and voila — they loved them so much they hired me right away.

Pros: A lot of work, easy to do, very few people know about it. It’s also “quick work” so you’d be able to build reviews right away.

Cons: Like LinkedIn profiles, it’s not always consistent work so you might be doing a little more “hunting” in the beginning…

But once you become established, people usually come to you, so I wouldn’t let that deter you too much.

Niche #3 — “Medium” Ghostwriter

That’s right my fellow Mediumites, over the recent months I’ve started to see a lot of people asking for “Medium” ghostwriters.

Part of me hates this as I don’t want to see Medium clogged up with “junk” created by shitty copywriters who think every blog should be a press release, but at the same time, I also know Medium does a good job of “self policing” articles that don’t provide value…

So at the end of the day, we should be alright, and that’s why I think you should look into this amazing opportunity.

Really the only thing you need to do is show some success on Medium (I’d advise at least 1K followers), and once you show this to prospective clients…

They’ll be practically begging to work with you, giving you an amazing source of income for doing something you’re already doing (well, kinda).

Pros: Consistent work, easy entry for experienced Medium bloggers.

Cons: People usually don’t pay AS much for blogs, but at the same time, it’s consistent work so that’s something to consider as well.

Niche #4 — Resume/cover letter creator

When I first started freelancing, I thought all the work would be for other companies…

But after being on Upwork for a couple years and seeing all sorts of different job postings everyday, I’ve learned that’s not the case.

Just like how people are looking for LinkedIn profile optimizers to help them stand out and get jobs, other people are looking for “resume” creators to help them land interviews.

Now again, personally speaking, I have no idea how to optimize a resume. I’m one of those “unemployable” people who believes in entrepreneurship too much to ever have a job again (trust me, I’ve tried, and every employer tells me this)…

But at the same time, there’s certain people that I trust, and if you wanted to learn how to create a resume that practically makes employers begging to work with you (or your clients)…

Then I’d highly advise looking into Overnight Resume Makeover by Ramit Sethi.

Why?

Because I’ve taken a few of his courses, and I can assure you, they work.

Pros: Again, a lot of opportunity. I can’t explain how many of these job postings I see everyday, and if you can show results — then you’ll never be without work.

Cons: This is just me, but it sounds boring as hell.

Niche #5: Landing page designer (Unbounce/Instapage/LeadPages)

If there’s one niche that I advise to any aspiring freelancer, it’s becoming a landing page designer for a specific software.

Why?

Because there’s a crazy amount of opportunity for landing pages out there, and I’ll be honest with you, I think it’s only a matter of time before landing pages are the new website.

I know for me personally I’ve taken down all my websites and replaced them with separate landing pages that are targeted specifically to that visitor (which I know where they’re coming from, because each link is different for every blog or ad I have)…

And specializing in a certain software is just an easy way of capitalizing on the power of a niche while taking advantage of this amazing opportunity.

If I had to give one software that I’d advise over the others, I’d say Unbounce is the most popular…

But at the same time, there’s still plenty of opportunity for the other two (Instapage or Leadpages), so don’t be afraid to try those either.

Bonus hint: If you can do copywriting with the design, clients will open their wallet for you. I’ve gotten jobs that’ve paid upwards of $195/hr before.

Pros: Really not that hard to do. The software makes it easy and once you’re able to get results under your belt, then you’ll never have trouble finding jobs. Oh, and did I mention this pays well?

Here’s a link that helps you learn how to design this pages: https://workshops.unbounce.com/ecourses/

Cons: Little bit of pressure. When clients are looking for landing page design/copy, they usually have some high standards for conversion rates…

So just make sure you’re able to get what they’re looking for before accepting the contract.

Niche #6 — Business plan writer

Before I jump into this one, I gotta let you know — this one has a little bit of significance to me.

After working as a Commercial Lender for 5 years and understanding the importance of a good business plan, I actually started my freelance career in this field and got paid pretty well for it.

My first couple clients were Real Estate Investors looking to get financing from their bank, and I was able to easily help them do just that…

But after helping these guys and taking on different clients over the weeks, I started to hate this niche.

Why?

Well, it seemed like 50% of the people I was working with didn’t really need a business plan, and instead, they were just the type of entrepreneur that tried to overcomplicate everything and “play” business in the beginning…

Which is somebody I can’t stand working with.

My favorite example was a dropshipping business who wanted a business plan, and when I asked why — they told me it was something that was going to keep them on their “mission”…

Like they had experience and knew what next week was going to bring, let alone next year.

With all that said, there’s plenty of opportunity out there for this and I don’t think it’s going away anytime soon.

My one piece of advice for this niche is to at least have a good understanding of creating pro-forma financials, as that’s one of the most important parts of a business plan (that’s going to be used for funding)…

But other than that, the actual business plan itself isn’t that hard to learn (most of them are literally 92% bullshit).

Pros: Pays well and the projects are always a good length. It seems like you can make a good living making 4–5 business plans a month, which allows you to focus on paid work as opposed to finding new clients.

Cons: Maybe it’s just me, but some of these new entrepreneurs can be frustrating to work with (because they read a book and think they’re Elon Musk).

Niche #7 — “About Me” Copywriter

Last, but certainly not least…

And for some reason, my absolute fave — the “About Me” Copywriter.

The niche is exactly how it sounds, where you specialize in creating about me pages for companies (or freelancers)…

And I’m not going to lie, this is probably one of the favorite niches I’ve worked in.

Why?

I really don’t know, but if I had to guess, I’d say it’s because it’s the biggest profit leak for most companies and if you know what you’re doing, you can dramatically improve their results with less than 1,000 words.

Does money equal happiness? It does, but only until you earn this much

Don't envy Jeff Bezos, Warren Buffett and Mark Zuckerberg for their wealth: They may not be much happier than the manager of your nearest In-N-Out Burger.

That's the conclusion of a recent study that found $105,000 to be the ideal income for life satisfaction in Northern America. Earnings past that point tended to coincide with a lower levels of happiness and well-being, researchers found.

The study from Purdue University, published in Nature Human Behavior, draws from the Gallup World Poll of over 1.7 million people that asked individuals to rate their lives from "worst possible" to "best possible" on a scale of 0-10.

Those ratings were then analyzed alongside reported household incomes to determine an ideal earnings point for every region of the world, what the study calls a "satiation point."

That point for life satisfaction varies around the world, researchers found, from $35,000 in the Caribbean to $125,000 in New Zealand. Past that, lead author Andrew T. Jebb said, “there’s a certain point where money seems to bring no more benefits to well-being in terms of both feelings and your evaluation."

In-N-Out managers, then, who the company recently revealed earn about $160,000 per year, make enough to be happy anywhere, the data seems to suggest.

Once enough money is earned to cover basic needs, everyday purchases and loans, people may be driven to increase earnings by comparison to others or a desire for material gains. And that, Jebb said, could prove a tipping point where more money results in a lower well-being.

“The small decline puts one’s level of well-being closer to individuals who make slightly lower incomes, perhaps due to the costs that come with the highest incomes," Jebb said.

Those costs include increased workloads and less free time, the study notes, which "might also limit opportunities for positive experiences."

The income points in the study apply to single-person households, the authors note, but can be determined for families by multiplying the figure by the square root of a household size. (A family of four in Northern America would have a satiation point of $210,000, for example.)

And exact satiation points would vary depending on just where a person resides within a Northern America, the authors said.

The research follows a much-discussed 2010 study from Princeton University that found emotional well-being only rises with income to a point of about $75,000 for Americans (or $86,000 in today's dollars).

But the Purdue study goes further, its authors said, using more precise income figures from around the world and accounting for household size.

Say BYE to Student Loan Debt

Project Overview:   you one of the 43 million Americans with student loan debt? Do you know others affected by student loan debt? Would you like to get rid of this burden quickly and efficiently? If you answered yes to any of those questions, you are not alone and this project is for you!

This project consists of an interactive e-reader friendly book called BYE Student Debt that outlines a simple and easy to follow action plan to eliminate your student loan debt, no matter what the circumstances. The book is linked to an interactive online website (http://student.byeloandebt.com/) which will consist of tools and educational materials designed to assist with the action plan outlined in the book. Together, this interactive website and book will give you the tools to say BYE to your student loan debt!  

Of the students in advanced or secondary degrees, like doctors, more than half have over $100,000 in student loan debt and more than 30% have over $200,000 in debt! Year after year, these statistics continue to rise; making a terrifying situation for many students.

Inspiration: 

Our inspiration for this project is based on our personal experiences with student debt. Dan and his wife, Meghan, did the exact same schooling and together had 15 years of secondary education. Together they had over $150,000 of debt (with interest). Ross similarly has over $50,000 of debt in which he is now using the same principles to aggressively eliminate his loans. Together, we wanted to share our experiences and lessons we've learned to help ALLstudents quickly and efficiently eliminate their student debt.

We are seeking $5,000 in this project, to be used in the following manner:

• Software programming expenses to develop and finalize all online interactive functionality of our website calculator tools 
• Finalize all artwork associated with branding, book cover, and website graphics
• Develop an ibook and e-reader friendly version of the book
• Place initial hard-copy book orders

Project Timeline  

Most of our awards will be delivered in the early fall, but some will be provided immediately upon completion of the Kickstarter campaign. We expect our project to be completed by the end of 2019!

The Bank Denied Your Small Business Loan, Now What?

There are other business loan options available in Canada for small businesses.

In our last post we explored the different kinds of small business loans in Canada. To recap briefly, there are 3 types of commercial lenders providing loans to businesses:

1. Canadian government
2. Commercial banks
3. Online lenders

The Scenario (a common one): the bank denied your application for a small business loan, so what are your options?

Online lenders like Evolocity are part of an emerging sector in the financial marketplace called FinTech.  Our growing propensity to have access to services online, and more importantly on our mobile devices has caused tangible shift across a multitude of industries, including finance. Couple that with increased lending restrictions faced by many small businesses and it’s not hard to see why Fintech lenders are gaining widespread momentum.

Does Evolocity provide small business loans in Canada?

Yes, we do. We offer both the traditional Small Business Loan as well as a Merchant Cash Advance program. The MCA is not really a loan but an advance against a business’ future debit and credit sales.

Unlike traditional lenders, we don’t require personal collateral when applying for a business loan; we also differ in a few other key areas that can make all the difference to our small business owners.

Time

For many small businesses seeking financing, time is critical. They don’t always have the luxury of waiting weeks from application to funding. Our technology platform was built around getting to know a business fast so we can offer merchants the best financing option for their business as quickly as possible.

Restrictions

Small businesses need to remain nimble and we’re sensitive to that, so we don’t impose any restrictions on what our business loan funds can be used for. Our merchants are free to use their capital for anything their business needs:

• Inventory
• Emergency expenses
• New equipment
• Location renovations
• Staffing
• Marketing & Advertising

Are you eligible for a small business loan with Evolocity?

Yes, if your small business meets the following criteria:

1. You own a Canadian based business

Evolocity is 100% Canadian owned and operated, and we choose to focus on helping other Canadian small businesses grow and thrive.

2. Your business has an active commercial lease

We only lend to businesses that have an active lease. That means your business must have a physical “brick and mortar” location. We do not lend to online only or home based businesses.

3. You have been in business for at least 12 months

We require that you have at least 12 months of sales under your belt before qualifying for lending. A year gives us a good indication of the overall health of your business and how much financing you can manage.

4. You make at least $15,000 in gross monthly sales

We don’t require any personal collateral to secure a small business loan so a minimum sales volume is necessary for us to extend credit to any business.

How do I apply for a small business loan with Evolocity?

Applying with Evolocity couldn’t be easier. It shouldn’t take more than a few minutes if you’re already prepared with the following information:

1. General business information: start date, address, legal business name, etc.
2. Commercial lease information
3. Business banking statements for the last 3 months
4. Owner information like: name, home address, birthdate, etc.

You can get your online business loan application started here or reach out to one of our financing experts 1-877-781-0148 and they’ll walk you through any questions you might have.