The internet and the information age that we now live in make it ridiculously easy for almost anyone with a pulse and a little determination to start and run a successful home business selling products online.
There are basically 2 types of products.
1. Tangible - physical products that must be shipped
2. Intangible - usually information in the form of mp3 (audio), mp4 (video), e-book (downloadable book online) etc.
No matter which type of product you choose to market the internet makes it a virtual breeze. It puts you on a level playing field, almost immediately. Most other media (e.g. television or radio ads) cannot accomplish that without spending big bucks.
Doing proper market research is the only way to ensure that the product you create is actually one people search for constantly and want to buy or go to www.instant-video-suite.com
The biggest mistake people make when starting a business online is that they try to serve a generalized audience. This is a big mistake because there are so many different buying influences that affect peoples spending habits that you would have to cover too many angles. For now, let's leave that for the bigger corporations with deep pockets.
For the average Joe (like I was when I started) that is brand new to home based internet business the strategy that gives you the highest probability of success is to use market research to focus on a micro-niche. A micro-niche is simply a niche within a niche and a niche is a small subset of a larger group with similar characteristics or other things in common.
There is a process that gets you from a general market that you know has a lot of potential to a specific niche you can target. These are the steps to identify;
1. Market - Identify a market with great potential. There are many ways to do this but one common and free way to do this is by looking up Google Zeitgeist you can visit www.prduct-launching.com You can research past and present search trends to figure out what people are searching for each day.
2. Niche - A group of buyers within the market with a set of common wants and needs.
3. Micro-niche - An even smaller subset of the niche that has very specific needs. By filtering down this group of buyers it makes it easier to focus on and therefore satisfy their buying needs.
Here is an example of picking a micro-niche to create a product.
Market - Automobile industry
Niche - Sports cars
Micro-niche - Collectible sports cars
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