It doesnt have to be a race.I have read several articles, seen several videos and even read a few books on creating profitable websites. Most of them have great information on how to pick a great niche. Many showed you how to find profitable keywords and then filter through the keywords to find the easiest ones to rank for. The websites can be niche sites to retail stores. This method of picking the weakest competition works. Can't argue with that.
Picking an easy keyword to rank for is a great start for someone that wants to make a little extra money on a few easy websites. It's tried and true. The thing is a blog is a little different.
Here's the deal, picking a keyword to name your blog is not the most important thing. In fact I would put little time into it as far as keyword research goes. Stick to picking a catchy name. Something that sticks. Something that people can remember and easily type into their browsers. --Warning-- I feel people will argue symantics with my next sentence but I truly believe what Im about to say. A blog is not truly a niche site -it can be niche- its not a retail store -you can have a retail store on your blog- A blog is something a little more personal. Its a log or journal of a person or persons life, hobby or interests. The word blog even comes from the phrase "web log".