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Use the Probability Factor to Start Your Small
Business Home Business
by Dan Foley
Published on this site: November 26th, 2005 - See
more articles from this month
How do you find a business that is right for you and has a
great probability of success? There are two steps that you
should take.
- Pick something that interests you. Better yet, pick
something that you are passionate about. If you are not
interested
or you don't like it, the work rapidly becomes drudgery
and you will likely quit after having invested a lot
time and money.
- Find out if there is a market for you business. This
is important because if there isn't a market, you could
spend months developing your product and if only a couple
of people care about it, and no one else is interested,
you just wasted a lot of time, money, and potential income.
How do you find out if there is a market for what you want
to do?
- Do a search on Overture
http://inventory.overture.com/d/searchinventory/suggestion/
and enter one or more words that describe your business.
The suggestion tool tells you how many people have searched
for your term in the past month. Multiply that number by
five to figure the approximate number of searches in the
past year. This will tell you how many people are searching
for your product or services.
- Look at the top 20 returns for your product on the search
engines (Google, Yahoo, and MSN) to see what competition
you have. Review your competitors' sites to see what they
are doing well and to see what they are doing poorly. You
may be able to see at what price they are selling a product
or service similar to yours.
- Look at the ads presented by the search engines. They
are usually located above the search results and to the
right of the search results. If there are a lot of ads for
your search terms, then there is probably a market for your
product or service.
- If you have found that there is a lot of activity, go
to http://uv.bidtool.overture.com/d/USm/search/tools/bidtool/
and enter your search terms to see how much people are paying
Yahoo to advertise your keywords using Pay Per Click. To
use PPC you bid for placement on the Yahoo search engine
pages. The higher you bid, the higher your placement. If
your competitors are bidding $1.50 or more it is a good
indicator that there is a real market.
If there is little activity, then you probably won't do well
and should look for something else or reframe your product
or service.
If there appears to be a lot of activity for your product
or service, then go for it!
Dan Foley Start your Internet Business/Home Business
the right way and save $3000, $4000 or more. Get a free no
nonsense 6 part mini-course here:http://daily-results.com/start-a-home-business.html
visit our site: http://www.daily-results.com
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