Online Business Ideas - Tips To Find A Profitable Idea Part 3

Online Business Ideas - Tips To Find A Profitable Idea Part 3 - And what does that mean?In my mind, the definition of it is the likelihood that your prospect will buy or pull out theircredit card for whatever that thing is you're selling. So for example, take these two keywordsbuy running shoes, which in my mind has commercial intent. Compare it to something like freerunning tips, which has low commercial intent. So if you type either one of those phrases,buy running shoes or free running tips into a search engine like Google you're going tosee different results. The quickest way to determine if there is commercial intent foryour product simply to type in that keyword phrase into Google and add a few variations,whatever you're trying to sell, whatever the description of your product is.

Type fiveor six of those into Google, and if there's no advertising to the top or right side thenand it will say this is an ad right next to it, if there's no advertisements it's a warningsign. Okay, so lets move on to step three. Cheaply test your idea and what you want todo is cheaply test the validity of your online business ideas. This is where the rubber meetsthe road so to speak and not doing it in a way that's significant or accurate can actuallycall you thousands or millions of dollars either in future investments of time or moneyor what's known as opportunity cost. And if you're unfamiliar with what opportunity costis, it's basically the cost of taking an alternative action, and this is according to Investopedia,is the cost of an alternative that must be foregone in order to peruse a certain action.

So in other words if your tests don't pan out there's really no shame in moving on tothe next thing. Preferably you want to run through the series of research steps thanI'm explaining here to validate that there's actually money in this niche to develop intoa business. And if there's not, there's really no point in beating your head against thewall and trying to turn something that really has no hope into a business. You might makea little bit of money, but the point is your time is better invested somewhere else. Andthat's the point of all these tests. 

To cheaply and quickly determine if there's actuallya market for your product or service. And a really cool quote that I think of a lotactually, comes from a guy by the name of Benjamin Disraeli. And he said, next to knowingwhen to seize an opportunity the most important thing in life is knowing when to forego anopportunity. So, if you really want to test your idea, if you really want to put it outthere and see what happens, which is the best way to test an idea of course is to see whathappens in real life, which is often very different than what happens in our mind.
Online Business Ideas - Tips To Find A Profitable Idea Part 4