The Brainstorming/Research Stage

One serious advantage of running an online business is that you can start from scratch without investing thousands of dollars. This makes the opportunity irresistible to many.

I’ve got a few online businesses on the go right now so I thought I’d write out and share with you the first six steps I follow to launch an online business.

1. List your favorite top 5 hobbies, current interests or specialties. Online competition can be fierce - it’s not like the old days - if you want to start a new business, you’d better be knowledgeable about that topic, so choose one that you like and have experience with.
2. Start building a list of key phrases related to those hobbies and interests. This is the start of your search engine related research. You’re going to see if a sizeable market exists for your business idea before you invest time, money and energy into the business. Here’s an example - if you are going to sell small airplane collectibles or an info product or resource on the same, some possible keywords could be: airplanes, aeronautics, war airplanes, and so forth.
3. Research those keywords with the free software tool Good Keywords to locate problem statements that have high search results and low competition. Good Keywords is a nice piece of software that allows you do perform research to find out how many times your keywords are searched online and how popular your keywords on search engines are. Those keywords may represent problem statements. Take notes. You’re looking for popular statements with low competition in the search engine results.
4. Research those problem statements further to determine if you can develop a product to solve the common problem you defined. You may use search engines to see how many people are offering products that can help to solve those problems. If you find a popular problem and there are not many people offering solutions online, you’ve found a great and viable market - or business idea!
5. Find or create a product based on the research and information collected above. If the product is an e-book, you might like to write it yourself or you could always hire someone else to do it. If your product idea is a physical product, you might like to research further to find companies online that can manufacture the products for you.
6. Write a long copy sales letter for your new product or business! Many top internet marketing specialists will admit that long sales letters out-perform short sales letters. So get writing! Even if you don’t have your product yet or if your ebook is merely a draft, your enthusiasm for your new project, product or business will transfer into your sales letter.

If you’re really serious about starting up an online home based business I highly recommend a free resource (selling elsewhere at $497) on starting up an online business. It has already helped over 10,000 readers get their home business off the ground and into profits.

Find similar: Home Based Business Inspiration, Online Business