The most common mistake made by new internet marketers is thinking of selling a product without first determining if a market exists.
Why is this such a mistake? It's a mistake because if there is no demand, there is no-one to buy the product, and the project is doomed before it starts.
So the first thing to consider when coming up with a viable product is to see if there is a profitable market.
Although this may sound a difficult task, it's actually not that hard to do.
The first thing you need is an idea for a product which can come to you at any time, like while watching T.
V.
or reading the morning newspaper.
If your mind is trained to look out for ideas, they are everywhere.
I always carry a small notebook with me, so that whenever think of an idea, I write it down so that I don't forget it the next day.
A personal digital assistant (PDA) would work just as well, but I prefer the old notebook and pencil.
So how do you know if an idea you think will make a profitable product? Don't think of a vague idea like "weight loss".
If that's your field, break it down into a niche market, like "weight control for ladies over 40" Now you have an idea you have to see if it will be profitable.
For this, you need a keyword research tool.
There are several around, but for now just use the Google keyword research tool, which is free.
Simply type in a keyword or phrase, and press the "get keyword ideas" button.
You will then get a list of keywords and key phrases that are related to the subject you have entered.
Each keyword or key phrase has an indication of how many searches have been made for those keywords.
This gives you some idea of your keyword's popularity, how many searches were done for that exact keyword.
You are of course looking for a keyword or keyword phrase that has had lots of searches.
Write down the number of searches.
Unfortunately keyword popularity is only half the battle.
You also need to find out the competition which exists for that particular keyword.
To do this, go to Google and do a search on the selected keyword or key phrase.
See how many web pages there are on that subject.
If this number is less than the number of searches you wrote down, then you could be on a winner! Once you have found such a niche, if you're not familiar with it, do some research.
Find articles and forums which cater to your subject.
Build a website which provides accurate and interesting information about the subject.
Then apply your marketing strategies to give it exposure to the marketplace.
You just have to find that niche.
The sooner you find one, the sooner your bank balance will expand.
Why is this such a mistake? It's a mistake because if there is no demand, there is no-one to buy the product, and the project is doomed before it starts.
So the first thing to consider when coming up with a viable product is to see if there is a profitable market.
Although this may sound a difficult task, it's actually not that hard to do.
The first thing you need is an idea for a product which can come to you at any time, like while watching T.
V.
or reading the morning newspaper.
If your mind is trained to look out for ideas, they are everywhere.
I always carry a small notebook with me, so that whenever think of an idea, I write it down so that I don't forget it the next day.
A personal digital assistant (PDA) would work just as well, but I prefer the old notebook and pencil.
So how do you know if an idea you think will make a profitable product? Don't think of a vague idea like "weight loss".
If that's your field, break it down into a niche market, like "weight control for ladies over 40" Now you have an idea you have to see if it will be profitable.
For this, you need a keyword research tool.
There are several around, but for now just use the Google keyword research tool, which is free.
Simply type in a keyword or phrase, and press the "get keyword ideas" button.
You will then get a list of keywords and key phrases that are related to the subject you have entered.
Each keyword or key phrase has an indication of how many searches have been made for those keywords.
This gives you some idea of your keyword's popularity, how many searches were done for that exact keyword.
You are of course looking for a keyword or keyword phrase that has had lots of searches.
Write down the number of searches.
Unfortunately keyword popularity is only half the battle.
You also need to find out the competition which exists for that particular keyword.
To do this, go to Google and do a search on the selected keyword or key phrase.
See how many web pages there are on that subject.
If this number is less than the number of searches you wrote down, then you could be on a winner! Once you have found such a niche, if you're not familiar with it, do some research.
Find articles and forums which cater to your subject.
Build a website which provides accurate and interesting information about the subject.
Then apply your marketing strategies to give it exposure to the marketplace.
You just have to find that niche.
The sooner you find one, the sooner your bank balance will expand.
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