31 Days to Success: Day 8 Researching Your Options
Two days ago I indicated that research was an important step to setting a course for success. Since then you have developed a list of skills, experiences, talents and passions and we discussed ways you could make money from that list. Today we’re going to outline how to research your ideas to determine if its viable for working at home.
1) Is there a market for your idea? The best way to determine this is to use Google’s Keyword Search. Type in your word and do the search. The results are the number of searches on that term as well as related terms over the last month. BTW, this tool can help you identify niche markets that you can create products or services for.
2) Is there an existing supply? What is your competition? Use your keyword(s) on your favorite search engine to find the number of websites that are providing information, products or services related to your keyword. Ideally you want an idea that lots of people are searching on (#1) but few resources exist (#2).
3) What do the existing resources offer? Some websites may use your keywords, but offer something completely different. Others may be doing exactly what you want to do. Study those sites to learn more about their products and services, how they market, to whom they market, and figure out how you can be different (and better).
4) If you’re looking into a business opportunity, franchise or direct sales company, you’ll want to include research on how long the company has been in business, what do you get for your money, understand the compensation plan, check for a refund policy, read any further policies and restrictions, and get feedback from other resources. You can read my article on choosing a business opportunity for more details on researching these programs.
5) If you’re looking for a job, you’ll want to research the company as well as learn about the industry and telecommuting overall. Most people get caught in scams because they don’t fully understand work-at-home jobs.
6) Finally, you’ll want to research what is involved in getting started. What steps need to be taken? What do you need to learn more about? What expenses will you incur? Where can you find answers to the questions you’re going to have as you pursue an idea?
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