The answer is highly dependent on you.

I run two highly profitable businesses + I'm just starting a third.

The keyphrase I targeted in biz #1 had zero traffic. I single handedly created the topic + related niche. Today there are 3M+ related links.

With biz #2 there's not even a front facing (public website). Last year's profit for this business was 2400%. All referrals come from talks I give at private masterminds.

With biz #3, search volume is 100/month (low) + first usage of this keyphrase was 1954 + the domain I own is an exact phrase match + holds SERP #1 for target keyphrase + many related keyphrases, with zero content on the site.

My approach is simple.

Never compete.

I take a keyphrase which can easily be dropped in conversation, which intrigues + then speak a few places about the top... okay, specific, highly target places to speak... which then creates traffic around a keyphrase.

This may seem like a lot of work.

If you choose a topic where you have high expertise + interest, which you talk/write about daily, then this entire process becomes a zero work proposition.

Rather than work, you simply monetize your current areas of expertise.