The 1 crucial
thing to do when choosing which product or service is for
you.
Generating Ideas - and selecting the Best
Ones
From a purely business
perspective, selling Information Products (for a small business
this usually means E-Books) is could be one of the best
opportunities for generating profits on the Internet
So the next question - is what
kind of Information Product that can I create?
(Incidentally - if you already
have an idea, it's worth considering the idea in depth,
before you start
writing: there's no point spending a lot of time developing an
idea that turns out to be a lemon).
Assuming you want to create
E-Books to sell for profit: The number one stumbling block for
most people is picking a topic, but actually, if you know how,
finding a hot topic is surprisingly easy.
There are a number of
approaches, all of which can work, that you can
take:
- Knowing What You Know:
Use information or knowledge
that you've already gathered (or at least partially
gathered) as the basis for your product.
The main issue with this
approach is that it can be very hard to list all topics you
already know something about. Fortunately though, some
innovative techniques can help you with
this.
- Market Research:
Find topics that people are
demanding information about - and supply the answer. Find a
"need" and solve it!
Another great approach is to
first find the motivating factor that will encourage people to buy.
Once you have this, you work backwards, initially towards
how you will deliver this benefit, and then to what your
E-Book will contain.
- Competitive Research:
Find topics for E-Books that
people are buying right now - and enter the market
yourself.
The more established your
competitors, the the more ground work (educating prospects
about why they the products), will have been done by
them.
This can make it easier for
you, as they've already established interest, but also can
be can risky, as an entrenched competitor may crush you
like a bug!
Rather than going
head-to-head against a strong competitor it may be better
to find a small niche, and occupy it. For example if your
competitor is selling an E-Book about operating a Small
Business, make your E-Book a specialist book on Small
Business Taxes, or Small Business Marketing, or Small
Business Accounting, or any other Small Business topic on
which you have sufficient
expertise.
The best approach, in my experience, is to
generate a lot of ideas as quickly as possible. Don't review
them initially - just make a note of every single idea. Some of
the ideas will be lemons, some will be diamonds, and some will
spark further ideas that might themselves be
diamonds.
Once you have a lot of ideas -
then go through each one, and look at the
following:
- Are you interested in this
topic?
If you're not sufficiently
interested, you may get bored, and have trouble finishing.
Even if you can force yourself to finish an E-Book about a
"boring" topic, your lack of enthusiasm will show both in
the content, and your sales pitch.
My opinion: forget any topic
that you can't work up some enthusiasm
about!
- Do you know
enough about this topic?
If not, would you be ready to
learn more (research) the topic?
Additionally, the more
information that you've already gathered about the topic
(if the topic is a subject that really excites you, then
you may have tons of material, or at least Internet
Bookmarks), the less time you need to spend on research.
The less time you spend on research, the sooner you can
create the product - and the sooner you can start selling
and bringing in money.
- Can you find
motivating factors that will motivate people to
buy?
People will buy products that
deliver them benefits they want. If you're product has no
benefits for readers - don't expect them to buy!
- Can you reach
people who are interested in this
topic?
If you know how to reach
prospective customers already, this is a
huge advantage.
Perhaps you already have an Ezine or Web Site about the
topic - or if it has an audience - you already have a
stream of prospects!
On the other hand if you
don't know how to reach prospects, your task is not
necessarily impossible, but you will need to take into
account that you need to spend more time, effort, and
possibly some money on
marketing.
Research your product/service before you pick
a domain name or build a site.
Many Internet marketers have a
couple of good ideas, but become obsessed with getting things
exactly right, and spend years planning.Eventually they run out
of money and/or Passion and simply give up.
Systemization and planning will be an important
aspect of your success,but it’s counter productive to get
totally absorbed in the “what if” stages.
So, Organize your research in terms of
a large market of interest ie: Golf and then a niche
within that market ie golf ball. The niche will be where
you can focus your potential to make
money.
Below you will find links to some free
research tools use them to find a niche or research your
own product/service
Keyword
Research Tools To either check your products sailability
or find a new niche
:
1.Google
Adwords Keyword
Tool
2. Market
Samurai this tool is free but you must instal
on your computer it will give you all the date you
require to make a decision on your business
market.
Read
this short report before you do another
thing.
This is one of
the most talked about subjects in IM and can be like the
search for the Holy Grail!
:)
The good news is
it really does not have to be that difficult and you can
find hungry niches with ease--it just requires you to
think a bit outside the
box.
This step is the
exact method I use to find hungry niches and is quite
easy to do!
The first thing
you need to do, especially with your first product, is
find a niche that interests you or you are already
in.
This is not
always the case and there will be plenty of profitable
niches that you do not really interest you at all, but
with your first product it is a good idea to find a niche
that you have some sort of interest
in.
If you are having
difficulty thinking of a good niche that you have
interest in, the best thing to do is think about your
hobbies.
The first niche I
can think of for you is “How to make money online” as you
are reading this guide.
Just think of
things that you enjoy doing like cooking, playing
computer games, fishing, DIY, eBay, collecting stamps,
etc...
The other thing I
should mention here is try not to spend too much time
thinking about this as it can prevent you from taking
action!
Once you have
thought of a niche that you have some interest in, settle
on that niche and get
started.
Obviously I will
not know what niche you have picked so for the purposes
of this report, I will go through the niche research
steps with the “Dog Training”
niche.
Ok, so once you
have got your niche, the first thing you need to do is
see if it is profitable and people are looking for
it!
Remember don't
spend too much time on this. Just think of something you
have an interest in and move on to the next
step.
The next thing
you need to do is go to Google or use Market Samuri and
check out how many people are searching for your
niche.
Keyword Research
Tools:
1. Google
Adwords
Keyword Tool
2. Market
Samurai this tool is a free down
load
Here is
what Market
Samuri brought up for the keyword “dog
training”:
There were lots
more results, As you can see,
this is a VERY popular niche with lots of people typing
in some very profitable phrases. Don't worry if your
niche does not bring up this many results, as dog
training is a heavily saturated
market.
Do bear in mind
though that your niche search results should have more
than 500 searches per month at the very
least.
This works out at
about 16 unique searches per day on Google. Using
Market
Samurai you can see the daily searches at a
glance plus lots of other usefull
information.
By analising this
information you will get a good idea of the market you
wish to enter.
If you followed
the above steps and your niche has less than 500 searches
per month, then you will need to find another I'm afraid
as it may not be worth putting the work in if there are
so few looking for it!
So if you have a
very small niche, try and think of another niche with
more search results.
this gives you an idea of how to
research your market.
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