I am trying to target some high-paying keywords in the finance niche but don't really have luck so far. I have started several blogs in different niches but still too early to report on whether they will help in earnings.
I'd be willing to be those who have found success in a particular niche are rather unwilling to share. Think about something you can specialize in that nobody else is doing. If you find success in one tiny area, move on to another and another. Don't waste your time in a niche were there is already hot competition. Look for something you can work with that nobody has thought of before. If it's discussed in a thread or posted on a site, plenty of competition is already out there. Start making lists of things you can work with easily and then break those down until you find something reasonably profitable, but not oversaturated.
Just search,do brainstorming sessions and you will find a good niche. I started with a SEO website, it was one of the worst things I could spend my hosting-money on. I didn't think it through. I wasn't aware of the huge competition in that niche. I shut down that site after 2 weeks of reading articles, topics, ebooks on internet marketing. I realized 2 weeks too late that I could have spent my money better on something else. After some brainstorming sessions and some online research, I found a niche with low and unprofessional competition. I'm still building that site (don't have much time), but I'm sure it will do good as there isn't much competition.
Its not really about the niche. Its all about the quality and authority of your website. For example if you have a successful website that is ranked high then naturally it would be an awesome little earner. you would also attract higher ad payers on your site.......
There are various method to find a niche. Few are mentioned above. Secondly search for a friend who is doing online business and is profitable. Try to learn from his / her business and search for niche in the similar lines. It will be much easier to go and it will also support your friend for a long run
It is also important that you explore to find new niche. I am sure you are aware of few keyword tool that will give you immediate understanding of keywords by which you can identify niche's .. Well this is a TDS process but while. Trust me!
I recently purchased a product about hot niches which informed me about niches which has higher adsense click and pay per lead value. You can get that product here : http://redhotniches.blogspot.com/