Look for the solution to the problem and the money will follow
98% of the Internet startups fail because they make the same fatal mistake which is if they think if by finding the hottest product to sell online they will succeed. This one inaccurate sad belief is what dooms so many never see Internet riches because it’s the furthest thing from the truth.
The secret to making money online is not finding the hottest product to sell, but rather a problem a group of people are trying to solve. The key to succeeding online is simple: look for a group of people who have a need and create a solution for that need with a product or service.
Always remember, most people do not go online to make a purchase but rather to find a solution to a problem. Once you begin to think about the people or groups problem then you can create an idea that you can present in the way of your perfect potential customers which in turn will set you up with a tremendous business.
What are your skills and interest?
The next step is finding a market that has a common problem. You must consider that these are going to be your future customers, so the best thing to look for is other people you have something in common with. This is highly and imperative when setting up your online business because you’ll have much more passion in what you’re doing when something actually captures your interest as well as the people who you are solving the problem for.
Knowing what you are interested in is essential for any entrepreneur as your business should always be based around your unique special skills as well as interest. Before you even think about possible problem niches to target ask yourself these questions:
¬∑ What is it that you’re passionate about?
¬∑ What types of things interest you?
¬∑ What are other subjects and topics that you have the most knowledge of?
¬∑ What types of topics do you find yourself answering the question for when you talk to others?
Your expertise might’ve come from a hobby that you’ve been developing, it could have been from on the job, something that you’ve been wanting to research further or just about every skill you have accumulated to this point has a value when it comes to starting your own online business.
By sticking with something you’re familiar with you already have an existing knowledge base that allows you the luxury of having to steer around the learning curve associated with a business you know nothing about.
Before choosing any sources online, make sure to review some of the platforms that you are considering. Yes, there are different programs that can teach you how to make money online, but it is important to choose a reliable and legitimate one.
Finally, staying in your skills and interests to solve a group problem allows you to speak the lingo associated with that particular group. This knowledge also brings credibility to your new online business because once you’re up running you’ll need to prove that you’re the best solution to the problem at hand. So remember, always start a business with something you know and profit from it.