The first step is picking a business area. Contrary to your instincts, do not pick something specific in the business area. For example, let us assume you want to start an online business providing strategies for saving money. Your business area is money. Don’t make the mistake of jumping to a more specific area. Instead, you need to do some research.
The beautiful thing about starting an online business is you can access vast amounts of information on the cheap. In this case, you want to use the following tool:
Wordtracker is a program that tracks the exact phrases used by people on the search engines to find things. You can type in any subject matter and Wordtracker will spit out the top 300 phrases incorporating that subject matter that were used in searches over the last 60 days. It draws this information from a database of over 300 million searches and is very accurate. Frankly, Wordtracker is considered the bible of Internet marketing.
Going back to our example, you would type in “money” into wordtracker and see what search phrases have been used over the last 60 days and how often they have been used. You then look for phrases with lots of searches. Exam the list to determine if any of the keyword phrases appeal to you. If they do not, move on to another subject matter.
In fact, let’s just go ahead and do it. I’ve opened my wordtracker account and typed in my subject matter – money. As expected, there are tons of searches incorporating the word. Ahhh…and I’ve found a subject matter. There are over 10,000 searches a day for “unclaimed money.” I happen to know that states collect unclaimed money for wages, tax returns and such. Sounds like a perfect online business to me!
Using Wordtracker is the key to starting an online business. By using it, you can make sure your business idea is one that people are searching for on the net. Nothing is worse than building a site in which nobody has any interest. Wordtracker keeps you from doing it.
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