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May
19, 2004 Final
Decision
This has taken
me a while to narrow down - Probably best for me not to rush into anything.
Ryan's comment was that the most time consuming part of this whole thing
would be the brainstorming and researching! Well I am done with that part
and on to the one I have choosen.
My thoughts
were to get a simple project going and if it didn't pan out as well as
I would hope then on to the next, and if this project does work well then
I will plan to develop more then one product.
Most people
fail at this process because they get there hopes up to high and do not
want to quit and start over when the numbers don't add up. Don't make
that mistake, you will be spinning your wheels for a long time. Learn
to keep the momentium going...
Niche Area:
Bulldog
Root Keyword: Bulldog Searches:
34,815
Average Overture Bid: .27
Numbers
are very good for this niche, fair amount of searches and low keyword
bids.
One nice thing about this niche, is that their are several other
breeds of bulldogs that are bringing in a fair amount of searches and
low bids.
American
Bulldog: 52,666 Average bid: .10
French Bulldog: 36,977 Average bid:
.11
English Bulldog: 36,195 Average bid:
.11
I have found
several ebook products that provide an affiliate income, And several shopping
sites that would fit in with affiliate plans. I even found a site that
offers an affiliate income for referring someone to the site to purchase
a puppy. (I will have to check this out and see just what referral rate
is) As you remember I was not even thinking product as I was conducting
my research as to keep an open mind about possible partners.
I am excited
about this niche, because we do have several english bulldogs my husband
and I both have an interest with this breed. We do plan to sell these
dogs in the future. This will be our first experience at it, but the vet
we take our dogs to raises these along with the french bulldogs. So I
have a source that can verifiy the information I will have published.
Which is good. I won't feel as if I need to be the obvious expert. Here
is the site we will have to sell the puppies. Income will go towards putting
our daughter through college.
May
14, 2004 Numbers
Remember when
we started this all Ryan suggested to target markets with 30,000 to 60,000
searches. What I noticed is that in many of my searches I saw niches within
my niches. When He and Jimmy D Brown came out with the multiple streams
of income report on niches I grabbed it up. This helps explain how I can
do this project with minimal time spent creating products.
There are
some niches that will work well with this idea, mentioned by a fellow
marketer, is devotional phrases, which would work in perfectly, Such
as:
Encouraging Devotional Quotes for the Single Mom
Encouraging Devotional Quotes for the Pet Owner
Encouraging Devotional Quotes for the Virtual Assistant
Encouraging Devotional Quotes for the Niche Researcher :)
You'll get
the idea if you download this FREE
Report by Jimmy D Brown from Nicheology.
**Note -
always look for the niches within the niches
And if the numbers and competition are not there you better fold it rather
then hold it.
Step
10
Final Decisons
May
10, 2004 Checking
out possible partners
I
have called this part of the research finding possible partners because
I am going to go to Google and see just who and what "Google Adwords"
represents from each of my niche ideas. This will give me a better idea
of who is actually making money with this particular niche.
This
is what I will document:
Possible
Partners, businesses that might compliment a product idea with
an affiliate association.
Articles,
sites that have much in the way of articles or information pertaining
to each niche.
Online
Stores, this gives me a good idea if this idea is somthing
that will be purchased online. Again making note of possible partners.
I
have researched all my niche ideas one at a time during this step, because
I want to take my time to evaluate each niche as I go. I am going to be
asking myself the following questions:
Are
members of this target market able and willing to pay for a product?
Does
this niche interest me?
Did
I find at least two site that represented:
Competitors
Related Affiliate Programs
Content Sites
While
doing this evaluation I have come up with a few leads off my main ideas,
so now I have a few more ideas then the initial twelve I planned. This
research has taken me several days to complete, and my eyes were definitely
opened. Some ideas there just was not any competition out there. Which
is not a good sign. I'll explain more on this in the upcoming steps. And
I will not even talk product until I have narrowed my ideas down to at
least three...
Step
9
Which ones to let go
May
7, 2004 Finding
Competition
I have done Step 6
and 7 for all my niche ideas at the same time. (seemed a bit overwhelming
at first - but really went fast!)
Heres is what Ryan suggests to find out what the current market is
bidding on search terms:
go to Overture.com
do a search on this SE and you will get a page listing the advertisers,
now look up in the top right hand corner of the page (view advertisers
maximum bid) click there and you will be given a page where you need
to type in a security code. Type this in and you will be taken to the
exact bid page listing what the competition is paying for this search
term.
Ryan suggest
that I write down the top three bids and list an average of the three
on my evaluation sheet.
** For example the search term home schooling ( which by the way is
searched on both homeschooling and home schooling) Listed the top paying
bids at $1.22 $1.22 $1.19
$.73 (I have made note of the fourth bid since it was considerably
smaller)
Something Ryan stated is that he likes to see a market of about 30,000
to 60,000 with bids ranging from the .25 to .35 range.
**I am sure there are some exceptions to this so I am not throwing this
search term out as of now.
I
will be posting a full page evaluation of one niche idea after Step 8
and 9 - so stay tuned...
Step
8
Partners
May
6, 2004 Evaluation
Process This
is what Ryan suggest, after you get 12 ideas in your mind go through this
evaluation to find out the current market for this niche.
Basically you go to
the Overture
Search Tool, this is where you will get Overtures ranks of search
terms.
I have
found this is very current now for what markets are being considered for
product ideas. However if you want to get a feel for what the population
in general is searching on give WordTracker a try. You can check out this
services along with others I recommend here
I will be updating this page with new ways to research!
Again for this evaluation
I have just documented stuff from Overture. What do I document:
Do a keyword search first, such as cars
Cars
2806637
(WOW a bit to general)
Ryan states he likes to see searches of about ( 30,000
to 60,000 )
My first thought was custom auto accessories, so lets see what this
beholds:
custom auto accessories 726 ( bumper -
back to the drawing board).
I noticed under cars that hybrid cars were a hot topic and (also in
the news - a good sign!)
hybrid car 59,768 ( I think I have found
something here)
More
on evaluating the competition tomorrow. Step
7
Finding Competition
May
4, 2004 Solutions
Needed
Oh Boy, I could write
a book here...
I'll start with the most important at hand.
I need to learn css, (to develop the ease of making changes to my websites)
I need to learn how to edit video coverage
I need to learn lighting techinques for models (this will give me an advantage
as a Portrait Photographer)
I need to learn how to build more traffic to sites (Clients and Mine)
I need to learn how to write better sales copy!!! (have purchased Mark
Hendricks products, now I have to make time to do it - I'll be showing
you later in Ryan's guide here...)
I need to review lots of software!! HELP
I need to learn how to keep my computer clean. (I have a new xp system
- I know I am one of the unlucky souls...)
I need to learn how to set aside more quality time for my FAMILY.
I need to find someone to help me....(this should probably be at the
top of my list)
**NOTE
- I have started each of these statements with I need, and so does everyone
else. Everyone is in search of something. Today people turn to the Internet
to find out things they NEED TO KNOW!
Maybe it is time for you to start your business online, if
so let me know and I will do everything I can to get you started with
the "Do It Right" Advice and Tools.
Step
6
Evaluation
Process
May
3, 2004 First
things first
Sasser Worm (if
you haven't downloaded Windows update recently you are at risk) Read
Marc's newsletter to get all the latest information about this attack!
http://www.updatexp.com/april2004-sasser.html
Next Lesson on Ryan's
Quick Start Plan
What Problems have I solved?
How to loose weight
and eat healthy.
How to start to train a dog.
How to sew curtains.
How to bake a pie.
How to plan a church social.
How to dicipline my 5 year old.
How to improve my picture taking skills.
How to build a website, and help others.
How to write a weekly ezine.
How to plant a tree.
Funny thing is that I am still learning most of these skills - maybe that
is the purpose of this excercise, to show me that many people are learning
things today such as I, and that they are always looking for ways to improve
their skills...
**NOTE everyone of these statements starts with How to:
Step
5
Solutions Needed
May
2, 2004 Lifes
Ups and Downs
Today is Sunday -
Appropriate to reflect on Todays subject.
I feel very strongly about putting God first in my life. None of this
would be possible without my faith.
Next in my life would be My Husband and Family
Then my friends and business associates.
My personal life
experiences are miracles such as being as close to a lightening bolt
to feel the shock.
Walking away from
a major automobile wreak.
Having three children
ranging from the ages of 23 to 5
I have had the opportunity
to teach bible school to children age 10 and 11. (Everyone should experience
this)
Pushing myself to
learn new things.
(within the last 4 years I have come from purchasing a computer to building
a web business.)
And I look forward to learning new technology for the rest of
my life.
Step
4
Solved Problems
May
1, 2004 Dream
I like Ryan's way
of teaching. He has asked for me to list what I would like to do if I
didn't have to work!
This is the ultimate goal folks, This is my "Passion", I feel
as though my passion for a particular niche idea doesn't matter as long
as I have a DREAM for where I am going!
Here is my list and it sure is not complete,
I will be adding to it as I go...
Travel
(next year for the DPCon I will take my family)
(take a trip to Pheonix to see my oldest son, he just moved in February
and I miss him..)
Time (my youngest son is 5 and he will be starting
kindergarten next year, so I want to be able to spend more time with
him both teaching and having fun)
Gardening
(we are in the process of re-landscaping our yard - I love
to do this stuff)
Antique
Shopping (no real passion for what I would want to buy at this
time, but this is something I can do with my daughter - she is 19)
My original passion
in life Photography (I would love to purchase a Nikon
D100 - a friend of mine let me take hers for a test drive last night
and I am hooked, I will be going totally digital asap!) Nature Photography,
wildlife, children...If it involves photography I am interested!
I love to Paint
experimenting with new techniques, such as brushing and glazing. I have
painted a few backdrops and its fun. ( I could really get Devon involved
with this also..)
Richard,
my
husband works a full time JOB outside the home. I would like for him
to not have to work - because there are many things he would love to
do on the farm if MONEY was no object! And then we
would do these things:
Build a New Horse
Barn
Camp and Fish
Build a Log Cabin on the Hill
Ride Horses
Boating
Add a sunroom on our house
Re-design our kitchen
Take off anytime we like!
Be lazy - relax anytime!
This is just
a tip of the iceberg. Most of what I would like to do involves MORE
MONEY AND MORE TIME...
Step
3
Life's Ups and Downs
April
30, 2004 Brainstorm
Quick Start Campaign
(step by step research plan for niche product success)
I took Joe Clayton's
advice and started a journal for ideas to check out. Get you a notebook
- because these ideas will come to you when you are away from your computer.
( I think best when I am outdoors soaking up the sun ) How
about YOU?
Try very hard not
judge any ideas you have at this time!
This is the creative thinking part, if you are thinking product now -
STOP
Ways to jumpstart
your thinking :
List your hobbies,
your spouses hobbies,
your kids hobbies,
your ________ hobbies
you get the idea here, and remember you don't have
to be an "expert" on any of theses ideas....Or remotely interested
in them!
After brainstorming
I have choosen at least 12 ideas to start research on:
Scrapbooking
Bulldogs
Baby Gifts
Genealogy
Herb Gardening
Home Schooling
Bed n Breakfast
Digital Video
Furniture Restoration
Camping Gear
Computer Game
Vegan "Vegetarinism"
I will start the
"profit evaluation process"
in a few days
Step
2
Your Dream
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