Siddharth Rajsekar breaks down the 5P framework for picking a profitable niche: Passion, Problem, Persona, Potential, and Pay. Each pillar needs a green tick or you're building a hobby, not a business. Use ChatGPT to research and validate all five before you start.
Chapters
If you're confused about the topic that you've chosen, uh, you just need to follow a process. I have a process called the 5P process. If you follow these 5 Ps, you will be able to crack your niche really fast. The first P is passion. Do you really love what you do? The second P is, is your passion solving a problem? Because if your passion does not solve a problem, it is a hobby. The third P is persona. Is your passion solving a problem for a particular kind of person? Like, are you targeting only mothers, or you're targeting only working professionals, or only entrepreneurs? The fourth P is potential. Is there a good potential in the in the next few years, is it going to be a growing topic? And you can use ChatGPT to find all of these questions. And the fifth one is, are people willing to pay you? And usually people will pay you. So when the passion solves the problem, targeting a persona, there is potential in the market, and you can get paid, then your niche is going to make money. Otherwise, you're going to be running a spinning wheel. And all these 5 need to be a green tick. Even if one of them is not ticked in green, you're going to be slowing down.