1) Consider every possibility You need first of all to decide in which sector you want to start your business. Don't try and be all things to all people. Make a list of everything that interests you. Consider everything. Don't be restrained because you feel that you don't know enough about it. Have a look at the Open Directory or the Yahoo Directory for ideas. Don't stop until you've spent at least an hour brainstorming. You need to make a list of at least ten different business sectors that interest you. This will help to ensure that you consider all possibilities. 2) Be prepared to work hard Now determine which of these options will keep you motivated over the next two years. That's right - two years. You won't become an Internet Millionaire overnight. But you could be close to it if you're prepared to put in some consistent work over the next two years. If you're consistent and focused, even two hours a day, five days a week can make you financially free. 3) Decide on your strengths and weaknesses Sit down with a friend that you trust. It has to be someone who's open to possibilities and isn't naturally critical. Discuss your list of options with them. Discuss your skills. Discuss what you love to do. Everyone has things that they are better at than others. Everyone has things that they are worse at than others. What are you better at? You need to find an objective way of analysing your strengths and weaknesses. This discussion needs to reduce your possibilities down to three business sectors. 4) Research what people are looking for Take your three business sectors that you have declared an interest in and start learning how people search for businesses in these areas online. The Overture Keyword Selector Tool estimates how many times a certain word or phrase was searched for on the Internet over the previous month. Test different words and phrases. Get a feel for the different phrases that people tend to type into search engines to find a business in your chosen sectors. 5) Find out where the money is Now research the keyword phrases that your competitors are already purchasing traffic for. The Overture Maximum Bids Tool shows the maximum amount that certain companies are prepared to pay per visitor who has searched for that phrase on one of the main search engines. Use this tool to find out how much your competitors are willing to pay for their customers. 6) Consider the competition Now that you know what you want to do, what people are looking for and where the money is, it's important to review the quality of the competition already in the market. How popular are other websites? How many back links do they have? Which directories do they appear in? How do they keep their customers? What services do they offer? How do they generate money? Spend a few days considering the competition. Copyright 2006 www.BuildYourOwnBusiness.biz |
