COAST IN FOR GOLD
As you may know I’m in the process of setting up an online business. I’ve looked at numerous sites dealing with business and I feel I’m ready to commence my venture. I have a modicum of management skills, a smidgen of industry expertise, a byte of technical skill, a penny worth of financial knowledge and a mammoth vision to grow and succeed.
I need to do this because as a lot of us have found, the global financial crisis has eroded incomes and asset values and as a result I now have the necessity to create additional income. Among other avenues, I’m going to generate money online.
My initial look into the web uncovers a Bonanza. There’s Gold out there in them there hard drives. But we have seen this type of hype all before: big rewards for no effort. The get-rich-quick guys are there in the hundreds. Of course we all know that their promoises are too good to be true.
My opinion is that making money online is not hard, however it looks like it will be very time consuming. As they say ‘you don’t find gold without a lot of digging’. My other opinion is that if you approach it like any other business and apply normal business principles you can achieve success.
So what have I done so far? My first step was to define my primary goal and that was to make a small but meaningful amount of income from the internet, say $25,000 per year. My next task was to identify a particular product that I am interested in, or passionate about. Maybe focus on a specific area I know well. Every day thousands of searches are made by those looking for help with their problems. I want to be the one who gives solutions.
I’ve had some experience in writing and publishing and in matters dealing with small business so I’m going to set up a web site that will contain ideas, information and data related to those topics. The content will be simple and easy information. As you can see that’s the name of my blog. I’ll be carrying out a few checks to verify that the market I’m considering actually exists, is significant and spends money.
I’ve only had a blog for a month or so but I really enjoy the experience and process. As yet I don’t know anyone online, but I feel part of a larger community and this has given me a huge amount of motivation.
The fact that I have settled on a business that I’m interested in will help me market at my best, without excessive risk or effort. I will be able to add a personal touch to my future website and give my visitors, who are possible buyers, an impression that I am well informed in the field.
I am now looking for “information” products to sell on my site. I realise that I can do this in several ways. I can either:
Create the product myself.
- Publish product for other authors, or
- become an affiliate
Before I come to a decision on any of the above possibilities, I must do some market research. This is the most valuable tool for all types of businesses. I need to make informed decisions as to what information my potential customers are interested in. What are their needs? The greater the understanding, the greater the chance I will make the most of the business opportunities that come my way. I need to find the particular market that is hungry for information and that is willing and indeed spending money.
The types of market research I’ll be looking at are:
- Talking to potential customers.
- Information from statistics of purchasing habits.
- Lists of most popular information presently being sought.
The questions I need to be answered are:
- How do I come to the attention of my customer.
- How do they search for information.
- Where do they go to search.
- What are they looking for.
- What will attract them to look at my site.
- How do I make my information credible.
Once the research has been completed, I’ll be able to determine which valuable product I will offer and once I work that out, there seems to be no reason why I won’t be able to attract customers to my site. To achieve this I will have to discover the best methods to compel them to come to me.
For the moment I’ll be concentrating on finding the worthwhile market around which I will build my business. The answer: – For now more time more effort.
(c) 2009 simple and easy information