Use The Probability Factor To Start Your Small Home Business
With the times we are living in, many of us have found ourselves having to reach deep and find some way of finding an income - now is the time to push yourself but how do you find a business that is right for you and has a great probability of success? There are two steps that you should take.
1. Pick something that interests you. Better yet, pick something that you are passionate about. If you are not interested or you don’t like it, the work rapidly becomes drudgery and you will likely quit after having invested a lot time and money.
2. Find out if there is a market for your business. This is important because if there isn’t a market, you could spend months developing your product and if only a couple of people care about it, and no one else is interested, you just wasted a lot of time, money, and potential income.
How do you find out if there is a market for what you want to do?
3. Look at the top 20 returns for your product on search engines (e.g. Google) to see what competition you have. Review your competitors’ sites to see what they are doing well and to see what they are doing poorly. You may be able to see at what price they are selling a product or service similar to yours.
4. Look at the ads presented by the search engines. They are usually located above the search results and to the right of the search results. If there are a lot of ads for your search terms, then there is probably a market for your product or service.
If there is little activity, then you probably won’t do well and should look for something else or reframe your product or service.
If there appears to be a lot of activity for your product or service, then go for it!