Business Ideas From What You Like The Most

I know I promised to show you how to do online market research in my previous post. However, I feel it is important to get this out first. It is the very first step you should take when you are starting up an online business. Especially if you are still trying to find business ideas that is most suitable for you.

Online market research allows you to determine the exact market to start your business in. It is certainly important for small business startups which I posted about in On Line Market Research: The Importance Of Market Research To Small Businesses.

Seriously, before you even go into the research steps, you should at least have ideas of what business you are going into. Allow me now to show you how to find ideas for a suitable market to start your business in.

Have You An Idea For Your Online Business Yet?

The place to look for a business idea doesn’t even require the Internet or computers. Just take a look at your own self. What are your interests? Your hobbies for example. If you like to go fishing, then fishing is certainly a good market to go into.

Do you spend a lot of time playing games – video games, computer games, online games? That’s a whole range of markets you can venture in.

How about the job you’re doing? Lets say you are a teacher. You can surely enter the Teaching Market. Your personal experience in your job would certainly have prepared you to succeed in this market.

When you really think about it, just by looking at your own interests, personal experiences and knowledge you can find various profitable markets. So, if you don’t know what exactly you want to start your business in, do the following. Tonight before you go to bed, find a pen and paper. Sit down. Take a minute or two, at the most, to list down all your interests, hobbies, jobs you’ve done, the subject of books you like to read, the movies you like, etc.

Don’t think when doing this. Just write whatever that comes to mind. Following is what my list looks like: (This is directly off the top of my head right now)

• x-men
• wolverine
• computer
• soccer
• college football
• american football
• miami hurricanes
• miami dolphins
• money
• jason bourne
• selangor football
• tottenham hotspurs

Why Starting Up A Business With What You Like?

Why use your own self as the source of ideas? Ever of heard of the term “Making money with what you love”? This is how you do it. You surely like those items you’ve listed down. If you can make money out of them, why not? Believe me, with proper research (the next step)and the right actions, you can make money, lots of money, with that short list of things you like to do.

Another reason to go with what you like is the knowledge you already have about those particular markets. Lets take fishing again as an example. If you like fishing, you would certainly have a lot of knowledge about fishing. You would know about the best tools to use. You know of have heard about the best places to go fishing.

You can easily promote, say, the fishing rod you’ve used in your fishing trips. People will believe you since you’ll be promoting from your very own experiences. Tell people about that one fishing trip where you reeled in that 20 pound Swordfish using your favorite fishing rod.

Never caught a big fish? How about your fishing friends? They have their stories which you can share with others too.

By going into a business in a market you personally have experience in, you have an added advantage. You already know the market. You know the market lingo. You understand how the market thinks.

You are already in the market yourself. What you want is probably what the market also wants. You know the problems faced by the people in your market. Create a solution or find one from another company and provide them to the market.

I always hear from people who wants to start a business but don’t know in what market they want to start in. Instead of actually starting their business, many are simply wasting their time “Looking for that New Market”. They want to be in a business where they are the first to offer such product to market.

I’m not against such mentality. However, the truth is, when you are really just starting, it’s a whole lot easier to become successful in an existing market. When you have the hang of things, learnt about the challenges in running your own business, then you can think about venturing into the uncharted territories of creating “New Markets”.

You now know that it really is not difficult to find ideas for a business. All it takes is just a couple of minutes. You don’t want to take too long building that initial list. You might end up with a list too long and end up confused instead. That one minute list is basically the things you like the most. They are also the things which you really have vast knowledge in. Hence, they are the most suitable for you to begin your business in.

Oh yes, about the list you’ve created. Keep it in a safe place. You’ll look at it again and use it when we cover in detail about doing On Line Market Research. Remember, tonight, go create the list and discover the best business ideas that truly suits you.

The Importance of Market Research for Small Businesses

I touched about the importance of market research for a successful affiliate marketing earlier. Today, lets uncover why it is pertinent that small businesses do their market research before starting up.

Why is research so crucial for small businesses?

Small businesses are mostly relatively small budget startups. Being new in existence, they tend to have limited resources. It is thus, important that the limited resources are used to their utmost value.

Being new and small, your company certainly cannot and should not try to compete directly with any of the big players in your market. Doing so will obviously be suicidal. The best thing a small startup can do is to go into a market where the big players are not focusing on.

This is where niche study comes in. Before you even begin to think about the products and services your company wants to offer, you must first do a study on the demands and competition.

Tragedy Of Starting Without Market Research

Imagine what will happen if you were to simply jump in and offer a product or service on the Internet, only to finally realize that the market you are after has very little demand. To make things worse, the market is already saturated with competing products and services.

In the above scenario, your company’s products and services will totally be redundant in a market already saturated. What if you further discover that you are offering your products and services at the high end price in the market. With abundance of products at cheaper prices, do you think your company can survive in that market?

Some might say that the Internet marketplace is so huge that anyone can surely make a living even if the market place is saturated with similar products. Yes, to an extent, that statement is true. The Internet is truly a big marketplace and it is expanding rapidly. However, the Internet also allows your potential customers to search for the best offer at a click of a mouse button.

It only takes a surfer a few minutes on the search engines to find the best deal for something he wants to buy. If you are in a highly competitive market, what are your chances of being found in the search engines within that few minutes?

Without a proper market research, you are bound to enter a market filled with highly competitive large corporations. This can really cost you the business for you are not able to compete directly with the big businesses.

Market Research Is Easy and Zero Cost

The only way for you to avoid the above mentioned tragedy of going directly against a big budget large corporation is by doing your market research diligently. Today, on line market research on the Internet is fairly easy to do. Majority of your research will probably be performed in the Internet’s most famous search engine – Google.

Google provides a number of on line research tools. The most widely used of their tolls is the Search Engine itself. Another useful research tool from Google which people use all the time is the Adwords External Keyword Tool.

The best thing for small startups, you can do your research at no cost. Yes, you heard that right. Today, an online market study is going to cost you $0.00. All that is required is your time and energy to actually do it. The tools are free and fairly easy to use. You will not need formal education or training to use the tools.

It simply amazes me why people would want to skip from doing market research. With the excellent tools from Google, one really should at the very least do a keyword research on Google.

So, what are you waiting for? Go and do your on line market research now. Don’t know how to do a market research? Well, you are in luck. The next entry will be on How To Conduct a Market Research.

Why is that so?

If you are going through the above, then the following will probably be a light bulb (Aha!) moment for you.

I’ve just received a tweet from a fellow marketer referring me to an eye opener post at NitroMarketing. So, for this, I would like to say thank you to @themcircle for his tweet.

Let’s get back to the topic at hand.

Are you putting in long hours into your online business but not seeing any encouraging results? If so, you might want to take a couple of step away from working on your online business for a bit. Take a look at your daily online business routine.

What is it, actually are you doing with your time? Is your time spent like this:

Is this your typical day working at your online business?
Turn on computer, download email, read the latest emails you got from all the lists you are on. Clicking on a few links, watching a video for 30 minutes, going back to email to see what new messages came in you need to read. Going back online to check out your favorite site because you deserve a break from work…

Whoops, its getting late, time to close up shop after another productive day working on your business.

Or is it like:

• wrote 21 autoresponder or broadcast emails
• wrote 2 blog posts
• created 3 new pages for a new sales funnel
• recorded a 45 min camtashia training video
• started work on a new sales video
• put together a new offer for a promotion we are running
• checked stats to see how the business is performing
• ..

I know I lean more towards the first type of a person. Which is likely why I have yet to achieve my target in my Internet Marketing Journey. Reading that post certainly opened my eyes to what I’m really doing wrong in this journey.

Are you a getting things done type or a getting the right things done kind of a person? It really is not just about getting things done. It’s actually more like getting the right things done!

Which of the two types of people above do you fall into?

Date 1: 8th Aug 09 (Sat)
Session 1: 9:30am ~ 12:00pm
Session 2: 2:00pm ~ 4:30pm
Venue: Boulevard Hotel, Westside Room, Mid Valley KL

Date 2: 11th Aug 09 (Tue)
Session 3: 2:00pm ~ 4:30pm
Session 4: 7:30pm ~ 10:00pm
Venue: Cititel Hotel, Matahari 2 Room, Level 5, Mid Valley, KL

Here’s what you will learn in this 2-hour FREE HIGHLY EDUCATIONAL seminar:

• The 5-step formula for online success
• A simple but effective method to generate unlimited product ideas
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• How to locate profitable products to sell
• 4 sure-fire ways to make money online
• How to generate a $10,000/month income even if you don’t have your own product
• Little-known techniques to making money online with a simple but highly-effective ONE PAGE website!

To register for the event, fill in the form below. To attend tomorrow’s sessions, signup before 8:00PM Today!

You will also receive an online 7 Days eCourse on Internet Marketing from World Internet Academy upon your registration.

1. Have a product
2. Have a place to sell the product
3. Have a way to accept payments
4. Marketing

The above four steps may seem simple. The truth is, within the four steps above, there are still many sub steps or sub tasks that needs to be performed to ensure the success of your internet business.

Irfan dwells and explores those sub-steps even further in the podcast.

In the Have a Product step. Irfan elaborated more on the what one should do and the tools available to ensure the feasibility of the market for your product. Yes, market research is certainly the most important aspect of any business, even internet business. Yet, many people tend to forget or ignore this first step altogether.

Not doing a proper market research is probably the main cause why 95% internet businesses fail in the very first year.

The second step – Have a place to sell the product really involves having a website of your own. While a having a website may not seem necessary at first, you really should think about having in the long run. Irfan also pointed out that you really do need to have at least some website editing skills.

Through the life time of your product, you will probably need to modify a few minor details like pricing and color or some small description of the product. Outsourcing these minute modifications will certainly not be cost effective.

After have a product and a place to sell the product on the net, you must then think about how people are going to pay you. The third step of starting your business on the internet requires that you setup a payment processor for your clients. You want to be paid don’t you?

On the internet, people normally shop with a credit card. At the moment, PayPal is probably the most well known payment processor on the net. Irfan Khairi is certainly a proponent of Paypal. Deservingly so, as Paypal is certainly the easiest payment gateway to subscribe with at the moment. Paypal has recently allowed Malaysians to withdraw money from paypal into credit and debit cards. Irfan also offers a number of other payment processors which can be used like 2Checkout, WorldPay and iPay88

The last step is certainly the step which make or breaks your Internet Business. The marketing step. How do you market an internet business? Here Irfan dwells into the importance of marketing your internet website.

There are a number of ways to do marketing. Irfan informs that he is very much into email marketing. While mentioning email marketing, he stressed on the importance of complying with anti spam requirements. He pointed out the difference between a subscription based email marketing and spam emails.

Towards the end of the show, Irfan touched base on how to ensure that your internet business can be successful.

The podcast is divided into two 12 minutes sessions. If you are thinking about starting your own internet business, or have just started, I’d recommend that you listen to this insightful podcast between Irfan and BFM 89.9

Do you already run an Internet business? How would you like to drive more targeted traffic to your online business site? Yes, learn how to drive more traffic to your website. I recommend that you take a look at the New Web Traffic Secrets.

You see, most Marketers could be making a lot more money if they only had more traffic coming to their website.

…and easy access to marketing tools that have made other marketers work easier, and made them a lot of money.

so…

Russell Brunson, a very successful Internet Marketer, has called in some favors from a whole bunch of top online marketers and convinced them all to give you TONS of free Products and Services at no cost to you.

-ebooks
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You mention it, it’s there.

It’s all in celebration of his birthday. He says he’s getting old fast (he’s only turning 29) but he wants to celebrate by giving you the best products online.

Remember, Russell’s birthday is just hours away.

Stay tuned, I’ll let you know as soon as this is released. It’s the most exciting news I’ve had the opportunity to share with you in a long time.

You may be wondering, “what’s the catch?” well, there ISN’T one.

I hope that you will make lots of money selling and using those products. So.. Stay Tuned!

Can’t stand to wait for a few more hours? Here, go and take a peek at The Big Russel Brunson Internet Marketing Event

I realized that I don’t really have the drive nor the willingness to commit to doing Internet Marketing. Why is this so? The answer to this question was later drilled into me when I attended a mind blowing seminar by, none other than T. Harv Eker (the writer of Secrets of the Millionaire Mind) himself.

I was introduced to T. Harv Eker at the annual National Achievers’ Congress 2008 (NAC). It was during the NAC that I bought myself 10 tickets to the Millionaire Mind Intensive (MMI).

The MMI truly did wonders to my mindset. I’ve covered the MMI in my personal blog. If you want to know a thing or two about the MMI, go check out my Millionaire Mind entries at KodeeXII.Net

Having the knowledge of what to do to make money on the internet alone is not sufficient. In order to make money, you must actually do the work. You must take action. Knowledge without action gets you nowhere. That’s what happened to me in the first few months of venturing into Internet Marketing.

All I did was read and learn. Very little action was taken.

The MMI thought me that, it’s the actions that count. Of course, a little bit of knowledge would certainly be very useful. The MMI basically teaches us to do things that will further enforce our dreams into our very soul. It allows us to really focus on our goals.

By doing these daily little actions, we subconsciously build commitment to reach our goals. The idea here is to build a mindset that can withstand all the challenges that may present itself during the journey to reach your goals.

I now have some Internet Marketing knowledge to act upon. Thanks to T Harv Eker and his MMI, I can now develop the mindset required to become truly successful in Internet Marketing and reach my goals, insyallah.

I am still developing my mindset for Internet Marketing. What about you? Have you got a millionaire mindset in you?

The moment you master these integral elements of blogging, you can then enter into any discussion about blogging with total confidence. Upon knowing exactly, what a blog is, you will thus be on your merry way to passing Blogging 101 with flying colors.

Blog is short for weblog. What is it? It is just a series of posts on a website presented in reverse chronological order – last in first sort of way. That’s all there is to it, actually! Majority of the blogs out there at this moment are text based. A small but growing number of blogs, however, are made up of photo and video blogs.

For the most part, blogging 101 actually deals with the technical side of things. In order to set up a blog, you will first need a platform to run the blog on. This platform in turn, requires a web host and a domain. A blogging platform is essentially a software program that allows you to post and update your blog. The platform also allows you to design the look and feel of your blog. You get to change at the very least, the color scheme and font size.

The web host, on the other hand, is somewhat a virtual storage of files where your blog is stored. Every time you post and update anything in your blog, there are files which are updated in your host.

The domain is in a way the online address of your blog. It usually ends in ‘dot com’. Underneath the domain name is a series of numbers know as the IP address. It’ the IP address that really identifies the actual location of your blog.

Now you know what a blog is. You’ve also been briefed on what platforms, domains and hosts are. It is thus time to congratulate yourself!

You have just completed Blogging 101.

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If you’re familiar with who Rob Benwell is, you’ve probably made a killing using blogs and living soundly from your blogs. If you don’t, here is his story:

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He later got a chance to speak at Online Marketing Legend Yanik Silver’s underground Seminar. That is where his underground strategies are further revealed to the masses.

Rob released Blogging to the Bank 2.0 in 2007. This time he showed people new methods to creating online riches with blogs. Both versions of his book have been read by over 50,000 people all over the world.

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