Step 4 – Building Your Business Plan
Before I start, I know what you’re thinking. “A business plan – that sounds boring, I’m not wasting time on that.”
But hold fire a minute, in the previous steps you’ve actually done all the leg work. Now it’s time to make sure it all hangs together before you spend time on the final steps only to find that the ideas not viable.
On my training course I show you the exact calculation I use to assess if an idea is a GO – POSSIBLE – NO-GO. It’s a formula I learnt in 2010 and have carefully refined ever since.
To help you on your way now though let’s start to gather the research you’ve completed so far.
In Step 1, when you looked at your niche and micro-niche, what were the search volumes next to the words using the Google Keyword Tool?
In Step 2, what is the average price of products you looking at selling to your niche. Don’t panic if you’ve no idea yet. In my eGuide, Chapters 2 and 3 will help you answer this step in much more detail and you can come back and complete this step later.
In Step 3, when you looked at the ‘allintitle’ competition figure what number did you find?
Collate this data for a few of your ideas, niches and micro-niches and look for the ones that start to stand out. Where is the search strongest, the price point highest and the competition lowest?
By completing this a few times across a range of results you’ll see which you should be focusing your time on.
LET ME HELP AND SEND YOU A FREE BONUS – share your results with me by emailing them to firstname.lastname@example.org and I’ll let you know my thoughts. I’ll also email you a template of my ‘Business Plan on a Page’ to help you complete this step quickly and easily.
Here’s to your success.
This article is from a series called '7 Simple Steps To Make Money From Your Website'
If you haven’t done so already, grab the full series in my FREE eGuide.