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Angel Noir
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| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 9 |
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Posted: Fri Jan 13th, 2006 06:33 pm |
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tArticle geared to those thinking about making a business out of what they love.
Great for WAHM WANNABEES
There’s a myth being passed around regarding starting a business and it’s been passed around for ages. That myth is: “You can turn your passion into a business.” Unfortunately, not all passions can become profitable businesses, so you always need to do your research.
You may find out:
• Yes, your passion can be a profitable business
• Maybe there’s no demand for what you want to offer
• Maybe there is demand, but no money in it But don’t be discouraged.
I think the best thing you can do is to choose something you are interested in for your first venture…otherwise, you will likely lose interest. So, keep digging and you will find something that will keep you excited. There’s a ton of ways to do market research, but if you forget everything, please remember these things: * You must reach a target market that is passionate about their interest or desperately need to solve a problem. * Possibly more important than the passion is a willingness to spend a LOT of money to fulfill that passion or solve that problem. If your market is neither passionate nor spends a lot of money, I’d recommend you move onto a new idea. Here’s a few tools you can use to guide you in your research: * Magazines: If there’s a magazine dedicated to a certain subject or target market, there is likely a market to sell products here. Magazines are fueled by advertising sales and if people are buying advertising, they are likely selling well to this market. * WordTracker: This is a powerful keyword tool that show you how often people search for certain terms on the Internet. You can find out more at WordTracker. * SRDS Book: This is a great resource with snail mail lists in the United States.
It shows details such as:
• The demographics and characteristics of the mailing list
• What products they bought.
• How many they bought.
• How much they spent.
You can find the SRDS book at your local library or visit their website at: http://www.srds.com Overall, be smart in your choice. If you love collecting purple polka-dotted pet rocks and nobody else seems to buy those, that doesn’t mean you can’t keep your passion for that hobby. You’ll just have to search elsewhere for a viable market to sell products too. So, what happens if you've already started your business and you fear you've chosen a poor target market? Click here for part 2 of this article.
----------- Alice Seba http://www.MomMasterminds.com
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TPT
Administrator
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Posted: Sat Jan 14th, 2006 04:29 am |
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Angel Noir wrote: I think the best thing you can do is to choose something you are interested in for your first venture…otherwise, you will likely lose interest. So, keep digging and you will find something that will keep you excited.
This is so true! It is ny belief that if you enjoy what your doing, you will be more productive. You will also see better sales because customers can feel your enthusiasm for your products...and we all know that enthusiasm can be catching.
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Fred
Intensify.biz Founder
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wildangel
Member
| Joined: | Fri Jan 13th, 2006 |
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| Posts: | 15 |
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Posted: Sat Jan 14th, 2006 01:52 pm |
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Passion is the best key in starting a business. You must first enjoy on what you are doing to be able to give good services and product.
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Australian Job Search
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mom21
Member
| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 71 |
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Posted: Mon Jan 16th, 2006 03:07 pm |
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| I agree that you should have a passion for it. Of course, if the business is something that people must have, like plumbing or electrical work, you will probably do well anyway, but not neccessarily. It's always better to love what you are doing.
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