Table of Contents
How to Choose A Niche . 4
Let’s Get Started …. 5
Building a Business in Real Life …. 10
Watch for Consistent Ads …… 12
Is Your Competitor Trying to Trick You? …….. 14
How to Get Ideas to Test ……. 15
Another Source of Hot Topics …….. 16
How do You Know if Coaching Will Work? … 17
What is Coaching? …….. 18
Why Consider Coaching? …… 19
Where Do You Find Out What People Are Already Buying? ….. 20
Looking for Clues Offline …… 21
Do Real Market Research …… 24
Setting Up Your “Ask Page” .. 24
Pulling Out the Best Product Ideas . 26
Getting Qualified Subscribers to Survey . 26
Just Get Started …. 28
Let me share this: . 30
Sample Content Preview
The bottom line is, what you’ve got to do is find out 2 things. Number 1, are there people in your interest area that have needs that are being unmet? And then 2, are the people who have needs that are unmet, are they willing to invest money with you?
You’ve got to find out both of those things.
Folks have talked about in the past, and it’s a fallacy, that you can just go online, do some quick research, find out how many people have needs, find out how much money they’re willing to spend, and well, voila, you have your answer. I don’t know that it EVER worked, but, if it ever worked, it doesn’t work anymore.
One of the old methods, and I think at one point I even taught an iteration of this, one of the old methods, when the internet was young. You would go online, and you would look for something that had lots of searches online, and it didn’t have too many advertisers. But, it had some. The theory was, if there were some advertisers, well some people must be making money. People don’t pay advertising if it’s not working in the long run. You might start out advertising, but after a few weeks, or a few months of not making money, they tend to quit. It just works that way.
We could look at some old formulas, and we could say, hey, if people are advertising, and lots of people are asking the question, well then, somebody is making some money, so maybe there’s room for one more entrant.
Another thing we could look at. We used to create these fancy algorithms to say if there’s 100k searches, but there’s only 5 advertisers, or whatever the case is, then we would say, well, now, that’s a competitive niche, that’s ultra-competitive, maybe stay out of it. All of these different types of things.
The truth of the matter is, that today, number 1, it’s much more difficult to get that search information. And, by the way, if you think you’re getting that search information today, double check. There’s a strong possibility that wherever you’re buying it from, is selling you information that’s really 3 years old. But, they’re recalibrating it so that it looks like new information. The reason I say that is, to the best of my knowledge, for the most part, the providers of that information are no longer providing it anymore. The raw data is no longer there.
Now, there’s a huge industry around selling that information. But, the information doesn’t really exist anymore. Certainly not, to my understanding, they way that it used to. If that’s the way they used to look at it, but it doesn’t work anymore. What else do we do? We’ll talk about that in the next post!
Let’s look at the root issue here.
The root issue is, we need people that have needs, and we need people who are willing to spend money. The easiest way for us to look at this. In fact, I want to give you an offline example:
I want you to imagine that you’re thinking about opening up a restaurant in your town. The first place that you would go to find out if maybe you needed a new restaurant in your town is to look and see what’s happening with the restaurant scene. Are people filling up the seats in at least some of the restaurants downtown? Now, if some of the restaurants are empty, and some of them are full, that doesn’t tell you that there’s no more hungry people.
If some of the restaurants are full, it tells you the food’s probably bad in those empty restaurants. But, if there’s a number of restaurants that are full, it probably indicates that there’s a demand for good food in your town.
That’s the first step.
Okay, some restaurants are full, so there must be a demand. There are hungry people. You sit outside with the binoculars and you watch how many people are coming around. You sit outside, you’re downtown, you set up 100 yards away, 50 yards away, you set up your binoculars, or telescope, and you watch in 10 restaurants, and you just count how many people go into each restaurant. At the end of an hour you know 970 people have gone into those combined 10 restaurants. There are 970 hungry people on Friday night between 6 and 7. This is a fact! We know this now. We know that there’s that many hungry people, and there’s 10 restaurants.
If you open a restaurant, and yours is as good as everybody else’s, you’ve got a shot at generating 1/11th of all of that business. You know this.
Next you go granular. You say, ok, we know we’ve got 10 restaurants. 970 people. What if we sit somebody outside the door of every one of these restaurants. We hire 10 people to work maybe an hour. We just tick it off, how many people entered this door, how many people entered that door. And if you find that there’s a 97 person average on Friday night, some restaurants have maybe 300 people, some restaurants have only 5. What does this allow you to do?
It allows you to realize those restaurants have better food, or food that people like. Maybe there’s a Chinese restaurant, and Indian restaurant, American restaurant, French restaurant, Italian restaurant. You may say, well, the Italian restaurant is getting more customers. The Chinese restaurants not getting as many customers. Then maybe you have to go sample the food. Is it good food, or is it bad food?
Do you see where I’m going with this?
The only way that you’re going to be able to get information about whether or not your niche is going to be profitable, and whether there’s needs, without actually selling in the niche is to do some research – some searching. In your niche. I gave you this illustration because offline is the illustration that we can all really relate to. This idea of how would we determine if there’s room for one more restaurant. You realize, offline, that you need to do the work. It’s the same online.
Okay, here are a few articles on how you can do that work online, now that you understand how important it is!
How to Find an Online Business Idea That Works
How to Find Out What Your Customer Really Needs
Using Surveys to Find Niche Products to Create
One of the lies online is how easy it is to build a new business. People believe that. The read sales letters and even watch late-night infomercials about how many new niches, new opportunities there are.
That data is made up for the purpose of the infomercials and the sales pages. This “data” is everywhere and says you can figure all of this out, with no “boots on the ground”, in other words, with no work and without fully understanding what’s going on.
I say this because so often when someone reads something about choosing a niche, or how to find out what your marketplace needs, you are looking for an easy formula.
The truth of the matter is: there… is… no… easy… formula!
Building a Business in Real Life
Think about this example: there is no easy formula to figure out if you need a new restaurant in town. Let’s say you want to open up an Indonesian restaurant. And there are no Indonesian restaurants in your town. The only way that you’ll actually know if that restaurant will work would be to open one.Other Details
- 1 Ebook (PDF), 31 Pages
- 13 Graphics (JPG, PNG)
- Year Released/Circulated: 2016
- File Size: 1,660 KB
[YES] You CAN learn from this product.
[YES] You CAN sell this product and keep all proceeds.
[YES] You CAN offer this product as a bonus.
[YES] You CAN sell this product in a dimesale.
[YES] You CAN add this product to a paid membership.
[NO] You CANNOT give this product away.
[NO] You CANNOT sell nor giveaway this product with resale rights.
[NO] You CANNOT sell nor giveaway this product with master resale rights.
[NO] You CANNOT sell nor giveaway this product with private label rights.