Tuesday, January 20, 2009

Global Success Blueprint - Day 3 - Market


Over the next few days, we're going to be going deep into how to choose the right market, the right product, and the right sales system for your online business.

If you've already got a proven market, a great product, and an effective sales system in place, then feel free to jump to the traffic generation portion of the Global Success Blueprint.

If you don't have a market or a product yet, then continue reading:

The first thing you need to do when starting a business online is to choose a MARKET that you want to serve.

Most people get this backwards.

They choose a PRODUCT that they want to sell FIRST and THEN try and find a market to sell it to.

We're going to do the opposite.

We're going to look at the MARKET FIRST and THEN decide what we want to sell BASED ON WHAT THE MARKET IS TELLING US IT WANTS.

So how do you choose a market?

A market is just a group of people who share the same interest in, fear of, or desire to obtain a certain outcome in their experience.

There are millions of markets out there, so how do you choose one?

You want to find a market that you like, that you're passionate about, that you have expertise in, that you want to know more about, or are at least somewhat interested in.

Sure, you can make money in any market, but if you can find a market that you like, it's much easier in the long run.

You also want to find a market that's hot, that's active, and that has a lot of buzz.

You want to find a market where people are ALREADY spending money and have proven to be lucrative.

You see, there are tons of things ALREADY being sold to tons of people who are ALREADY spending tons of money to get them.

So why reinvent the wheel?  Why not just find a "starving crowd" of people who are spending money already in a market and just put what they want to buy right in front of them?

Makes sense, doesn't it?

So how do you go about finding a good market?

1.  Choose a market that you like.
2.  Research the market for profitability.
3.  Test the market on a small scale.
5.  If the market tests well, scale it up. If it doesn't test well, move on to a new market.

Simple.

We'll be going over each of these steps in detail in the next few days.

In the meantime, think about what areas you enjoy most.

We'll be giving you some specific ideas in the next post.

Stay tuned,

Success is waiting for you - 

Carolyn



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