I had a pal who wanted to start an internet business. He was totally convinced that it was going to be a big success and he will retire a zillion. The trouble is the product he was marketing had no demand. So instead of that big dream of success, he ended up laying a real goose egg. A lot of home business startups simply don’t build their business on a solid foundation. They get a crazy idea and assume that the whole world is going to rush on it. Even worse…they go up against the biggest names in the industry and believe they’re going to get anywhere doing it. This article is going to discuss on how to determine if your business model is a sound one.
Your business model comes down to basically two things…the market you’re seeking and what you plan on promoting them and how. Let’s begin with the market first.
There is one major aspect that overrides everything else. Do these people have a burning desire for a solution to a problem that they are prepared to pay for? If the response to that is no, you can come up with the greatest product in the entire world and throw all the advertising cash that you want at it but you still won’t selling any product. There must be a need for it and there must be cash to spend on it period! So the initial thing you have to do is investigate your market to find out if this market exists.
After you’ve successfully done that, the next thing you MUST do is study your rivals. How long have they been in business and what they are offering? Can you beat their products and prices? How tough will it be to surpass them in the SERPs? How much cash do they spend on promotion? Can you defeat them? These are numerous questions that MUST be answered before you even think of entering into this market.
Lastly, how are you going to go about achieving your aims? Are you going to utilize article marketing? Are you going to make use of pay per click advertising? Is it press releases? Or are you going to make videos and build a name for yourself that way?
What about the product line itself? Will it be a single product? Will you sell several other products? Will you go broad or deep? Is it an open niche or a very narrow one? If broad, you most likely can go very wide (marketing related products but for different sub niches). If it’s a narrow niche, you can promote a lot of products within that sub niche.
These are some of the things you have to think about BEFORE you can actually launch your business. By covering all these bases carefully, you give yourself an upper hand of owning a sound business model that can also be quite profitable.
To YOUR Success,
John Benjamin
Author Resource:
John Benjamin is the webmaster of http://www.123internetbiz.com Online Business Opportunties. Looking for a solid 4 step plan to building your own business…FREE? Visit the Plug-In Profit Site at http://www.123internetbiz.com/pips Internet Business Ideas and get started TODAY!
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