Online businesses are springing up like mushrooms but the unfortunate thing is that many die without having the chance to fulfill their potential. One of the reasons why online businesses fail is the lack of proper research into the niche. Research could very well be the basis of success or failure for anyone that wants to start an online business. Below are a few tips to consider if you are interested in doing the background research before stepping into an online venture.
Researching in the Negative
While most people tend to look at the brighter picture, it makes solid sense to look at the darker side of things first. This is because there is a generally recognized trait that suggests humans love hearing good news. This means most people that post online would want to cash in on those rushing to hear something good about an online business niche. There is a strong tendency for them to sacrifice truth and fact in the name of cashing in on this trait. You do not have to fall for this.
Searching in the negative requires you look at the dangers of getting into a particular niche rather than the positives. We can all agree that the positives of a niche is something you may already be aware of but this cannot be said of the dangers or negatives.
The negative is a reverse way of getting to recognize the traps in that niche. Once you are aware of these, they can give you a more balanced picture of the niche and you will be more equipped to go into it if you are still interested. The keywords to enter when looking at the negatives include dangers, traps, and loopholes (i.e. dangers of, traps of...etc).
Spying on the Competition
Find successful websites and businesses in the field you are about entering and research as much as you can to dig enough into their background. The front page of any store, business or sector tends to look better than what is obtainable at the back page. One way of digging up enough dirt is to search for negative reviews about the targeted competition.
Another thing with the competition is that they could have streams of income that you may not be aware of or goes beyond the scope of what you want to set up for yourself. This is important because you may be tempted to assume that if they are successful, so would you but you at least have to be doing what they are to expect the same results. This is why the next tip is important when researching the competition.
[caption id="attachment_2961" align="alignnone" width="862"]
www.zipconomy.nl[/caption]Do Not Go Beyond Your Entry Level
Follow up and research online companies that are at you prepared level of entry. It is good to overshoot and look at those that are at a higher level but you must be able to tell yourself that their level is higher. Doing this will help give you a sense of projection of what you might become sometime in the future but your emphasis should be on those that will be at your level of entry.
This will give you a better chance of being able to measure what you can achieve and look at ways you can come into the niche with something better or different from what they are already offering.
Research On Innovation
It is important you carefully go over any new thing you want to introduce into that niche before executing it. There could be a chance that someone had already thought of that idea before you so you should be able to find out why the idea has not yet been execute. It might just be that they know something that you do not know and if you are hinging your success on that “innovation” you want to “introduce” into the niche, it might just backfire.
A thorough background research on what you want to introduce will give you a level ground to stand on, as you will be sure of what you want to do.
Attitude of Negativity
Do not be too carried away with the online business you want to get into because you may end up missing some big issues from the onset. You need a healthy dose of negativity when it comes to starting up a new online business, as this may just be the thing that will keep your feet grounded. Cut down on your expectation with respect to breaking even or making profit and adopt the most conservative posture possible.
The idea is to have a sustainable business that will stand the rigors of time as you seek to establish a foothold in that niche.
Attend The EPIC BLOGGING Seminar (Jan 29th - 30th, 2016)
0 comments:
Post a Comment
Please, no email address or phone number in your comment. Tick "Notify me" to follow the conversation and get notified whenever there is new comment!