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Online Business Selection Process

You've seen the claims about massive amounts- Another thing to keep in mind when
of money being made on the Internet. Are theyselecting a narrow niche is the content that
true? YES! How can you get your share of thiswill be available for the product niche. Will
Internet wealth? The odds are against you.you be able to find enough content related to
Over 90% of people who venture into thethe narrow product niche to create pages of
Internet  to  make  money  fail.information? The more content available or
that  can  be  produced,  the  better.
Well, you need a plan or some sort of process
that is proven and will work. If you work- What are the best ways to identify a niche?
this plan and stay true to the process, yourThere are probably as many ways to identify a
chances of success online will be muchniche as there are people looking for a
greater.niche. Here are some tried and true methods
to locate a niche that should allow you to
This process works, but there is no guaranteeidentify  some  great  niche  ideas.
that what you do will work. Success is very
elusive. If you are persistent and willing to- Your own knowledge and/or personal
learn  as  you  go, you should do quite well.interests. A hobby or passion for which you
already have expertise. Remember, you are an
The Process is broken down into 7 steps. Theyexpert if you say that you are and back it up
are listed below, in the particular orderwith  pertinent  information.
that  will  work.
- Desk Research. Articles, Browsing, and
1.  Niche  SelectionNewsgroups. You can find all kinds of ideas
looking through publications from many
2.  Site  Selectionsources. Keep an eye out for the
advertisements. If you see certain ones over
3.  Prioritizing  the  Listand over, they are making money and would be
worth  taking  a  further  look.
4.  Product  Selection
- Paid-for Research. If you have more money
5.  Presenting  and  Proposalthan time, hire a consultant to find a niche
that meets your specifications. You should be
6.  Logisticsable to find excellent information with the
right consultant. Be up front with them from
7.  Reviewthe start as to your expectations, and they
should  come  up  with  great  ideas.
The 7-step process is an iteractive process.
After reviewing, you may find that you have- Keyword/Niche Search Tools. The tried and
to go back to step 1 and modify to come uptrue method is using keyword tools to find
with a winner. Let's go through step 1 inniches that should be profitable. Keep in
more  detail.mind that when you do a search on the search
engines, such as Google, you are seeing the
Step  1.  Niche  Selectionsupply  for  that  niche.
- You will want to find a niche that isTools such as Overture's Keyword Selector
tightly focused within a wider nicheTool will provide you with the demand side.
essentially, a niche within a niche. The moreYou want to find keyword phrases for your
narrow your focus, the easier it will be toniche that have low supply and high demand.
rise to the top of that niche. Once you haveAs an example, a search on Google for "auto
conquered the tightly focused niche, you canpart" shows about 1,350,000 sites that are
expand to the wider niche, and on up thelisted for "auto part". Overture's Keyword
chain. You can get ideas from onlineSelector Tool shows that "auto part" was
resources such as any of the big searchsearched on about 1,001,985 times in the last
engines, Google, Yahoo, MSN, etc. A narrowmonth. This might be a good wide niche to
niche will usually have 2 to 4 keywordstart from because of the ratio of supply to
phrases associated with it. An example woulddemand.  You want low supply and high demand.
be a wide niche of "car parts". Narrower
niches would include "used auto part", "raceYou also want to see how hard it might be to
car part", "chevy car part", etc. You can seeduplicate the higher-ranking sites
that this would produce quite a list of 2 topopularity. To assess this, check the sites
4 keyword phrases that would narrow the widerPR rank, Alexa ranking and number of back
"car  parts"  niche.links to the site.



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