I am sure that you have read at least 20-30 Blog posts about choosing a niche. And Most of them have about the same information. But in this post, I will try (my best) to get a new perspective on choosing a niche (Not many bloggers have written on this topic from this perspective). In this post, we will consider choosing a niche as an economic decision (it is an economic decision because it affects your income in turn, affecting the nation’s Gross Domestic Product). Moreover, choosing a niche is really important because it defines whether you will be an excellent blogger or not.Let’s Start :-
Before we move on to the main topic, let’s talk about why choosing a niche is an economic decision. Choosing a niche is an economic decision because
- It concerns a household and/or firm (depends on whether you take blogging as an business or not).
- It concerns the Consumption and Investment of the Economy ; therefore, it concerns the whole nation’s GDP.
I agree that these are small tasks that affect GDP. But, think about the number of bloggers today (who are making money off the internet). I think that gives a clear explanation of why choosing a niche is an economic decision. Now, let’s talk about the main topic of this post. Basically, there are two main things to consider before you choose a niche (we will look at the definitions first) and the first one is Absolute Advantage.
So, what is absolute advantage ? Absolute advantage is when you are better at something (compared to your rival or competitor). The basic definition of absolute advantage is that you are better at producing the good (in this case, the article) – More articles in a certain time period or you take lesser time to produce certain amount of goods. In the world of blogging, someone who is best at organizing time has an absolute advantage.The second thing to consider is Comparative advantage.
As the name might tell you, comparative advantage comes into two play when you consider two (or more) different things. In this case things has two different meanings :- 1) 2 or more people at one task or 2) 1 person at 2 or more tasks. For this post, we are going use the second meaning. Comparative advantage is when you can perform a certain task at a lower cost (it sounds like what it is). Let’s take an imaginary situation to account :- For example :
Blogger A or Bread (its his name) takes 30 minutes to write an article about Technology. At the same time, he takes 1 hour to write a post about blogging.
In this case, Bread has a comparative advantage over posting about Technology. Why ? He could write two article for technology in a span of 1 hour (While he would only wrote 1 article about blogging). Economically speaking, Blogger A should write about Technology.
Choosing A Niche ?
So, how can we apply this to choosing a niche ? When choosing a niche, write down the topic in which your are interested in blogging about (First, you need to prepare the Interest List, then shorten it down). After you shortened your Interest List, try writing an article for each of these niches. Read and Submit them for review (to a blogger who is on the field). I won’t advise you to publish it, since you haven’t really got any traffic. After the review (by others bloggers, your blogging friends etc.), read your articles for one more time. Choose the best article (based on yours and others’ reviews). Choose the niche of that article.
Important Note : Time yourself when you write an article for each niche. Use this time to get your absolute and comparative advantage. As a blogger, I would recommend you to take the one that is an absolute advantage for you). But still you need to take care of the comparative advantage part because in blogging, time organization matters.
That is all I have to say about Choosing a Niche. I am very thankful towards my Economics class because that is the reason why I could on this topic (From an economic viewpoint).
So What is Your Opinion ? What do you think about choosing a niche ? Doesn’t it play an important role ? Should we consider choosing a niche as an Economic decision ?
Thanks to the Author for the Image.