Step 1 - Discovering and Choosing Your Million Dollar Market

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Step 1 - Discovering and Choosing Your Million Dollar Market

Find Your Market

Method 2

Evaluate list

Use Method 1 to see which are viable markets

Pick top 3 to 5

Ask friends and family questions to generate more ideas

Generate list

Become Idea Generator

Major Information Markets

Health and Fitness

Fun and Games

Arts and Crafts

Pets and Animals

Education and Self Improvement

Business

Food and Cooking

Hobbies and Recreation

Sports

Home and Garden

Problem Notebook

Product solutions

Review monthly

Notice when people complain

4 Questions

What frustrates me?

What interests me?

What am I good at doing?

What do I like to do?

Don't judge

Brainstorm ideas based on your interests

Method 1

Business to Business Market Research

InfoUsa

Help you size a marketplace

Yellow Pages

How to help them get better

Bigger categories

Online Research Methods

MediaFinder.com

Magazines, newsletters, catalogues and other subscriptions

Searchable directory

About.com

Info people are interested in

Alexa.com

Sites most visited

Dummies Series of Books

eBay

Amazon

ClickBank

See what is popular

Offline Research Methods

Oxbridge Directory of Newsletters

SRDS - Standard Rate and Data Service

Mailing Lists

Publications

Browse magazines

Ideas

Different versions

Video

Audio

Improve products

Circulation

Ads

Niche

2 or 3 magazines

Find existing product in a market you are interested in

Want to be in proven area

'Market' Approach vs 'Product First' Approach

Understand market needs

Create solutions

Reaching Your Market

Keyword Research

Cost

methods

Yahoo Overture Tool

Google Adwords

Evaluate costs

First business

Less than $2

Traffic Estimations

100-300 keywords

get specific

prioritize

long-tail

4-5 words

phrase

lower level

top level

spreadsheet

track

relevance

popularity

Research Tools

Top Keyword list

d:\matt garrett\topkeywordlists

Google Adwords Suggestion Tool

Word Tracker

Over $10,000 month

20,000-40,000 searches

$1000 a month

2000 searches a month

Number of searches done on any keyword

Nichebot

Generates associated keywords

Websites

Meta tag

description

keywords

View Source

what words people are searching on?

Market Research

2 Questions

Can I Reach These People?

Are People Buying?

2 Forms of Marketing

Business To Business (B2B)

Business To Consumer (B2C)

Advice

Starter business

Answer to perfectionism

Learn from mistakes

Gain experience

Not your ultimate business

Making Decision

"Expert" Hang-up

Enthusiast

Nitro Blueprint process

More than 99%

Know more than someone else

Feeling Overwhelmed?

Nitro Resources

Overcoming Roadblocks

Consider outsourcing

Other Considerations

Commit 3-12 months?

Can you be "just good enough"?

Enjoyable?

Recap

Verify there is content out there

Verify there are partner and joint venture potential

Verify you can reach these people

Keyword research

Verify people are buying

3-5 Ideas to Evaluate

Reaching Potential Buyers

"Back Links"

Ezine Directories

Source of advertising

Article Directories

Are people writing about your topic?

Search Engines

advertised listings

normal listings

Other Sites

potential partners