Are you busting at the seams ready to get a product out to the marketplace? Hold up there one minute. First you have to determine what problems people are actively seeking a solution for. You then fulfill that need with your product.
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You start by discovering your passions, your strengths, and your desires. Once you have identified them, youll want to now do your research and discover the markets that lie within them.
The search engines are your first stop for research. In fact, you may not have to go beyond the search engines to search for your market. The biggest search engines you should be doing research in are Google, Yahoo, and MSN.
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Youll want to type in the keyword or keyword phrase into the search engine. To get an exact match of the keyword, surround it in quotes or else the search engine will return results that feature the keywords, but they may not be in the right order.
Take a look at the results that come up and check them out. You want to take note of the products offered and the price points. This way youll know what people are willing to pay for those particular products.
Youll want to see if the websites appear amateurish or if they look professional. They should be easy to navigate. Check out the About us page (they should have one). Look for testimonials with names. There youll learn what people like about that particular business and its products. All this information will come in handy when you start building your business and designing your website.
Youre almost like a spy, trying to find out the secrets to your competitors success so you can emulate it and find out their weakness so you can avoid it in your own business.
A big plus to doing research on the Internet is that youll get real familiar with the marketplace and some of the big players on the Internet that dominate it.
News sites are the second place youll want to look to do research of your market. An example would be CNN. Most news sites have an archive that you can do a search in. Youll want to type in your keywords and see what comes up. Most news sites also have a news alert, where they will send out an email to you notifying you of a story containing your keywords.
With these two ways of doing research, youre almost ready to develop your product that will take care of your target markets problems. But wait, dont develop your product just yet, there are three important areas you must check before you spend your hard earned money and time developing a product. These are huge and if you dont do research in these areas, youll be wasting a lot of money!
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How To Discover Your Niche Market (Part 1)