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Ideas for Home-Based-Business

by Dominick Tan

posted in Home Based Business

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The key to the right idea is to do your market research. Do not know how to get started? Well, how about going to the source of information? For example you can try the local bookshops, newspapers or even Amazon on the internet. Look into area where it is more popular or check out areas which are of interest to you.

Choose a broad topic first before narrowing it down to niches. That way it gives you more choices. Try typing in keywords or key phrases to discover their popularity on the internet. End of the day, you will need to discover the kind of information that your market is consuming. Once you have determined your area, get the few key phrases and you can then move onto the next step where you should check on its competitiveness and profitability.

To carry out the next step well, you would need to go to open up your internet browser and get into Overture which is one of the most popular keyword research tools. For further confirmation on whether you are on the right track, go to Google and type in the few keywords or phrases that you have zoomed in. You would take note of the natural listing, which is on your left and the sponsored listing on the right. Are there a lot of these listings on both sides to warrant your venture into this particular market? If there is not much listing on either side, perhaps you might want to reconsider entering this market. This should not be a general rule of thumb as you might stumble into a hot market, but you are harping onto the wrong keywords or phrases. Do more checks in this aspect.

As to the pricing of your product, do check out your competitors. I am sure that you do not want to price it out of the range. You have to know that your information product creation has only one fixed cost in its initial creation, thereafter the variable cost would be its marketing. Do not over spend on your marketing campaigns.

One last note in your search for ideas, do keep your eyes and ears open to your surroundings. Many a time, simple things around us can be turned into a great product if we had taken note of it. For example, the secret home cook recipes from your granny, how to avert a financial disaster or even easy steps to groom your pet dog?

Dominick Tan, the author of this article has live life in the fast lane as an investment banker for 14 years. Join him as he uses the same skills set to source out exciting deals in the fast lane on the Internet Highway. Take a look here by clicking

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