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Use The Probability Factor To Start Your Small Business Home

Article:

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 you 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. Do a search on Overture

http://inventory.overture.com/d/searchinventory/suggestion/

and enter one or more words that describe your business. The

suggestion tool tells you how many people have searched for your

term in the past month. Multiply that number by five to figure

the approximate number of searches in the past year. This will

tell you how many people are searching for your product or

services.

4. Look at the top 20 returns for your product on the search

engines (Google, Yahoo, and MSN) 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.

5. 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.

6. If you have found that there is a lot of activity, go to h

ttp://uv.bidtool.overture.com/d/USm/search/tools/bidtool/

and enter your search terms to see how much people are paying

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Yahoo to advertise your keywords using Pay Per Click. To use PPC

you bid for placement on the Yahoo search engine pages. The

higher you bid, the higher your placement. If your competitors

are bidding $1.50 or more it is a good indicator that there is a

real market.

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!

About the author:

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