By
James Williams
The
common mistake committed
by most newbie (novice)
online businesspeople is
coming up with a product
without determining a
hungry market. Why
is this dangerous?
Because the product
might not cater to a
certain demand.
Without demand, no one
would buy the said
product, and such would
surely be disastrous for
any business.
So
the first lesson in any
internet marketing
course should be about
finding profitable
markets.
Now,
despite how intimidating
this subject may sound,
it’s actually quite easy
to pull off. All
you need is an idea.
Yes, like one of those
eureka moments.
This
idea can come to you at
any time… while watching
a movie, for example.
Or while reading the
morning papers. Or
while viewing the
billboards by the road
your way to drop off the
kids at school.
This idea may also be
inspired by your current
or previous profession,
or a passion you
nurtured when you were
still enrolled as a
student.
It is
always advisable to
carry a small notebook
with you, so that
whenever these ideas pop
up, you could write them
down so that they won’t
have to fade from
memory. If you
have a personal digital
assistant (PDA), the
better it would be for
you.
So
how would you know if
the idea that enters
your mind is the right
one to build a business
for?
This
wouldn’t be difficult to
figure out.
Surely, an idea would
entail thoughts of
various possibilities
you do with the same.
An idea about dog
grooming can make you
think of a dog grooming
service, for example.
Or an idea about pest
control can make you
think of a
do-it-yourself pest
control eBook.
Once
you have an idea, it’s
time to determine its
profitability. For
this, you would have to
use the tools found at:
www.inventory.overture.com
Or…www.nichebot.com
Simply type in the idea
you have in mind, and
press the submit button.
You will then be
presented with a list of
keywords and key phrases
that are related to the
subject you have
entered.
Each
keyword or key phrase
would have an indication
of the number of
searches that they have
gathered from internet
users. The number
of searches made for a
particular keyword or
key phrase is a good
barometer of the demand
for the same.
Naturally, you would
want a keyword or key
phrase that has gathered
many searches, right?
This
shouldn’t be the case.
Demand is just half the
battle. You would
also need to determine
the number of
competition you would
have for that particular
market. To do
this, you just have to
run a search using the
particular keyword or
key phrase you have
selected.
Look
at the number of web
pages catering to the
said subject. If
this number is less than
the number of searches
made for the same, then
you have a profitable
idea indeed!
Let’s
illustrate.
Your
idea is about dog
grooming. So you
use the tools mentioned
above, and type in the
phrase “dog grooming.”
You’d
immediately get some
keywords or key phrases
like “shih tzu dog
grooming” or “dog
grooming cases.”
The searches for these
terms are greater in
number than the web
pages catering to them.
As such, you could
consider them as highly
profitable markets.
These markets are what
many people call as
niches. Finding a
niche is the first
integral step in making
money online.
Once
a niche is determined,
focus on it. If
you’re not familiar with
the subject, do some
research. Build a
website that would
provide accurate and
educational information
about the topic.
Employ marketing
strategies to give it
the exposure it
deserves.
It
all starts with finding
a niche. The
sooner you discover one,
the sooner you will
realize the many
promises that the online
world can offer.
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