The banana peel on which you may slip is that you start or you think you can start to build your business without proper pre-planning and detailed market research.
Many people choose a too popular, too big niche like make money online or weight loss and quickly set up a website, autoresponder, maybe create a few profiles on social media networks and think that that's all and visitors will just come and crawl on the website between posts and buy a bunch of products. But they are very wrong.
That's not a profitable internet marketing plan.
Because of two reasons:
- Even your biggest idea may turn out to not be interesting for your consumers and they might not be as enthusiasts about it like you.
- Despite the good idea, even though it would be of high demand if the implementation is not good (bad marketing, to big competition, poor customer service) the expected success will not come.
So let's see: Steps to starting a business:
The first step (probably the most difficult) to find a good idea, a good niche. People usually are stuck here for too long.
A few days ago I held a webinar for a small group and I was surprised (again) because practically the same questions are asked every time: about the market research – perhaps they're familiar to you too:
“I've got a lot of ideas, but they all seem so stupid”
From Brian Tracy I heard the fact that the average person has 4 ideas a day about how to start a professional business, but after a little time he gets confused and always discourages himself.
If you get a good idea, write it down immediately and when you get in a relaxed position, you think about it calmly and then look at what you could do with it, does it has a market, competition, etc.
When I do market research I always write everything into a spreadsheet as this is the start of a profitable marketing business.
Everything I can find about my idea: relevant websites, Google search results, competition, possible keywords, how can I achieve what I want (not that could I do it – that shouldn't be a question -, but HOW – You need to have faith in yourself)
Another common question I often receive :
“There is a niche that is very close to me, I know I could do well but I'm afraid to start.”
There's a solution for this too : a notebook. Write down exactly what you fear of! Do not think that only you have these kinds of fears, most beginners are in the same situation. If you have been able to work out what is what you're afraid (eg., “Everyone will laugh at me”, “I'm going to go bankrupt”, “I will kill myself working and not see a penny”) , you'll be able to solve the problems!
Think about how could you pass each fear. Most of the time the key is in the planning and learning. These are the two key factors that will help you avoid the pitfalls.
I always recommend testing the idea first.
For this a free blog is a great choice because:
- There is no risk
- Invest only your time and get a lot of experience from it
- Get to know the potential buyers
- Get readers or even potential customers before the big start
- You can measure if your basic idea is really good
- And if it works, you just have to redirect readers to your main site.
This might have been good for a first step as well.
Why are you actually wanting to start a business?
Your goals should be precise!
Do not write down that you want 10 million before the end of the year. Start with how do you want to change your lifestyle, what would be an ideal day, how would you like to relax, how much time would you like to spend with your family, what would you like to provide for your family (new car, new house) – these will help you in achieving your goals.
Let yourself dream and also write down your plans! If there is no real purpose which can motivate you than you will not be able to endure the hard times and long-term planning.
If now you feel like, “Yes, I want a bigger house, but I will not be able to earn so much money ever”, then let me give you a virtual ass kick …
Close your eyes, imagine the house with as much detail as possible (even with the color of your Jacuzzi) and start working right away to realize your dreams!
If you look at the goals, not the excuses, you will have money for 10 houses, I guarantee it!
This is the step when your dreams become a reality. Take your notebook and start planning your course of realization! Use your common sense and clear judgment, nothing else:
First, plan your main steps and time limits (eg, the site launch – May 1, creating your first product – July 1)
Then segment the main steps but do not forget the deadlines (eg content management installation April 10 -.create design- Apr. 15)
From here it's simple: serve customers, sell your product, create campaigns, etc. But oops! Where are the customers?
Don't forget the marketing!
Honestly, without proper marketing you might tear the pages out of your notebook as well. You simply can not build your future on: “the product sells itself”, “the shop is in a good location, people will definitely see it”, “buyers will further promote the product to their friends”.
If these are your trusted methods then this is what will ultimately lead to failure. And you don't want that, right?