First Steps – The Business Model or the Product?

Everybody at some time have thought to do their own business, maybe for the opportunity that appear in their life or just because they feel it could be a great idea. Both are good reasons and I think that it’s necessary that everyone will have this mentality. But something that we have to change in our mind is that not all business are about buy and sell something, or to give a service to someone. Now, with internet, all people can do business in different ways on internet.

As intelligent beings that we are, all of us have received talents and skills in different matters, some in math, other in science and others in business. That it’s true but, as I said, on internet we have a lot of opportunities to do business no matter our profession.

If we want to make up an online business, we have two ways to begin:

  1. Choosing the model web business or
  2. Choosing the product or service that we will offer.

Here we have some additional information about this two ways.

To know more about the Business model on the web, we can enter here:

http://digitalenterprise.org/models/models.html

An to Know more about how to determine the product or service, we can enter to the following site who describe a method of brainstorming that I’m completely sure will help you.

http://bizthoughts.mikelee.org/brainstorming-business-ideas.html

As you can see there, we have a lot of business models on the web, since to sell or to provide a service, or to publish content and to earn money by advertising. For this reason I said that everybody could make up their own online business.

Now, one of keys to make up a successful business is to identify the product and the target market. For that, first we need to analyze the market. But, What is the market online? How we can know if people would like the product that I will offer? Do I have to make surveys? Online Surveys?

Well, here we will use friend Google, he will help us in this analysis. We need to learn about Google Adwords and the tool “Keyword Planner”. This tool will help us to know the average search of a word (or topic) in google in a month.

For example, If I’m thinking in a business of snowboards, I will use this tool to identify the average of searches on google of this word. And not only that, we can analyze the words related to this product, for example,  “snowboarding classes”, “Snowboards used on sale”, “snowboarding competitions”, etc.  For a better explanation, I will share these 2 videos about Adwords an how to use the keyword planner.

What’s is Adwords?

How to use Keyword Planner

These videos explain clearly the how to identify the demand of this product (in a specific place) and the grade of competition (Low, Medium, high) of sites that are related to this word.

I would like to invite everyone to prove this tool with your ideas of business. This is one of the first steps, don’t give up if the results are poor or if there are a lot of competition. I know that our creativity and that the method of brainstorming that we read, will help us to find a market niche to offer our product.

I will let here attached an example of analysis of two products: Chess and snowboard.

Demand and Competition ADWORDS EXAMPLE ANALYSIS

Successes!

 

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