Start Making Money Online By Building Your Business The Right Way – Right From The Beginning
As we established in our previous article in this money making series, there is no secret or mystery to making money online. You simply need two things, that is, something to sell and a way of selling it! That’s it, job done, mystery solved!
So let’s look at those two requirements.
It may be that you already have a product or maybe a service that you want to sell online. That’s great, but it would put you in a very, very small minority! The overwhelming majority of people who decide that they want to make money online do not have their own product or service to sell, nor do they generally have much idea how to find one either.
The good news is that this should not actually represent a major problem, as I am just about to demonstrate.
Before doing so however, I would just like to add a note of caution. Many people who are interested in making money online are tempted to start doing so by getting involved in network marketing, often referred to as Multi-Level Marketing (MLM). That is most definitely not what this series of articles or this web-site is about, and it is quite frankly, something that I would really recommend that you avoid doing.
The fact is, for every person who makes a lot of money in network marketing there are hundreds who lose out. In truth, the only people who generally make money from MLM are the people right at the top of the pyramid, and the nearer you are to the base, the harder it is to make it pay.
Adding to that fact is that, sooner or later, you will run out of ‘prospects’ and have to start promoting your ‘opportunity’ to friends and relatives, and you really don’t want to do that, do you?
My advice is to avoid network marketing or MLM if at all possible.
How About Making Money Online By Selling Your Own Product?
Much more preferable, but what product are you going to sell, and how do you source that product?
Well, in my experience, most folks will come at this from one of two different directions:
- · They have a burning interest in a particular topic or subject matter – or
- · They have no particular subject matter in mind, and they just want to slap something together to start making money online as quickly as possible.
Whichever of these situations, given your burning interest and drive that you want to create your own product, and that is fantastic. But either way and before you start, there is one critical question that you need to ask yourself (and obviously answer!).
That is, is there a market for the product that you would like to create? If not, then it’s a pretty certain bet that no-one is going to buy it!
You must avoid the mistake that 90% of product creator newbies are likely to make which is creating a product before knowing whether anyone wants it! You must know that there is already a proven market and ways to make money for whatever it is that you are thinking of creating.
Do not, under any circumstances create a product first, without knowing whether there is anyone to sell it to.
How do you do this?
The simplest way is to see what people are searching for when they surf the net. You need to know what types of things people are looking for when they search the biggest search engines, like Google, Bing and Yahoo, and then relate these searched terms to the product that you are thinking of creating.
You do this by doing what is commonly known as keyword or niche market research. That is, you are looking for phrases that web surfers use when they search. Phrases that you can ‘match’ to your idea, to see whether enough people are searching to make it worthwhile. To do this, you are going to work with keyword research tools.
There are lots of these on the market, some that are paid for and many that are free. For what you need to do at this stage, the free tools are more than adequate. An excellent starter is to head on over to the “Good Keywords” website and download the free Keyword suggestion tool from the site. Install it, and you will have a screen that looks like this:
All you need do is open up the module by clicking the ‘Keyword Suggestion’ box and typing in the word or phrase that would most immediately spring to mind were you searching for the product that you are thinking of creating.
What you are doing here is trying to establish what other people are searching for. Returning to the example that I used in my previous post, I plan to teach people to play guitar online. So, my key search words would most likely be ‘guitar’, ‘guitar teacher’ ‘guitar lessons and so on.
Let’s try ‘guitar’ (and make sure that the ‘Research Using’ tag is set to “Overture (US)’ as this is the only search that gives actual search numbers, which is what you need:
So, (at the time of writing this post) we can immediately see that 325,714 people searched the phrase ‘guitar tab’ on ‘Overture’ which is effectively Yahoo.
Now let’s have a look at Google the biggest search engine. Let’s see what the results are there for the same phrase: In Google there are 175 million searches for the phrase guitar. That tells you two things, one good and the other not so!
The good thing is that there is definitely a market and therefore a money making opportunity for a product that teaches people to play the guitar online.
The bad thing is that the chances of people finding your product from a search using just the one word are almost zero!
That certainly does not mean that you should not create the product. It just means that you are going to have to be a little smarter later on, when it comes to getting people to visit your website.
One final ‘double-check’ that you might want to run is to check with the keyword research tool at Keyword Discovery, which is again free. I would also recommend that you go back to your Google search results, and take a look at some of the websites that the search returned, so that you can look at what the competition is doing too. Better to be aware of what you are up against before jumping in to the ‘battle’ two feet first!
Great job. You have done all the research and come up with the perfect product, but now before you can market and sell it, you have the expense, time involvement and hassles of creating that product.
In our next post in this Making Money Online series we will look into an alternative method of online income that you will find faster to set up and does not have those product creation hassles. If you missed the first post in this Online Money Making series you will find it here.