The critical first step to making money with an online business
You can earn money by displaying ads on your website. You can earn
affiliate commissions by promoting other people’s products. You can
use drop-shippers to sell name-brand products on your website. Or
you can develop and sell a product of your own.
Something you NEED to do first
Find a viable niche market — BEFORE you invest time and money promoting a product nobody wants!
Make sure you’re targeting a well-defined, narrow niche
The most accessible markets on the Web are highly focused. Let’s say,
for example, you want to sell all-natural vitamins online. If you try to
target “everyone who takes vitamins,” you’ll have to compete with giant
But if you establish your niche market as “people who are allergic to artificial colors and flavors in vitamins,” you won’t have to!
Make sure your market has a problem and is seeking a solution for it.
Make sure your market is willing to pay for a solution to their problem.
If your market won’t pay money for a product or service that solves their
problem, your business isn’t going to generate much of a profit! Find out
how much they’re willing to spend for a solution, and make sure that you
can sell your product or service at that price and still generate a profit.
Make sure there aren’t a number of products that already offer a solution to their problem.
If your market already has a variety of products or services to pick and choose
from, what makes you think they’ll want to buy yours? You have to be able to
offer your market something they can’t get anywhere else.
Make sure your product DOES offer a viable solution to their problem
Try giving a small number of new products away — for free — to a small group of people and ask them for feedback to make sure they like your product, and feel it does a good job of solving their problem.
Once you’ve found a viable market,
you’ll be better able to come up with a product or service that will satisfy their needs.
You’ll also be able to hit the groundrunning using any of the reliable ways to make money online — and guarantee your success from the start!