I know this is most common question as i have seen earlier posts but i need a perfect answer who can help find a good niche or idea for a new online business. I tried to make a wordpress themes store but its too much of budget around $6k so am looking for something better as my budget is about half of it.
Forum modifications and extensions? A lot of people need them. Make content that will help people out a lot and make new things that no one elese has thought of. It's hard but it's key to success. Loads of people are making wordpress themes these days, some companies make hundreds a day. It's too hard to compete with them. Start small think big. I wish you look.
Why don't try webhosting business? Buy some reseller plan which cost $10/month. Then get 10 client which pay $5/month each client. Then you'll earn $40/month.
$6,000.00 to start a themes store? Say what!?! Go get a ton of free WordPress themes, put them on a HostGator shared package, advertise it everywhere, then put ads on the templates and the sites, and watch the $$$ come in.
Well for me the Good niche is real estate, Forex, health, that is so familiar and a good business to start with..
here is what the step i applied to start my blogging on stock trading step 1 : discover your passion - without which you cant succeed online. because if you choose a topic just for the sake of making money then over a period of time if things are not going well , you may tend to lose interest and confidence within you. but if you r going to pursue your passion - success or failure doesnt impact you since you love the subject you are doing business step 2 : find out a suitable niche by digging it deeper. as you said you wanted to start a wordpress theme store . just dig the wordpress theme. they are 1 column , 2 column , 3 column , adsense optimized theme , or creating your own theme and marketing under a brand name which has got some unique features when compared to others . focus on one category and target it step 3 : get your domain and self - hosting and start your business if you follow these steps then i dont think that you will fail in your business - because all successful online business/bloggers follow these basic steps before getting into serious business all the best bye