You’ve had it with your daily routine, your daily commute, your long hours and a paycheck that really doesn’t seem to be enough to live the lifestyle that you always dreamed you’d be living. Don’t feel like you’re the only one, millions have the exact same feeling every single day and until recently, really the last 5 years there really wasn’t another viable option that most of us could do to improve the situation. However, now with the explosion of e-commerce worldwide and the internet finally being a safe and trusted place to buy anything from great cuts of steak from a New York butcher to custom diapers, the market has opened up for millions of seemingly small niche businesses which actually have a market potential of millions of dollars.
The world is finally turning into the global marketplace that everyone’s been talking about for the past twenty years. Distribution of products has never been better and more reliable, access to skilled, experienced labor has never been easier at a fraction of the cost and the ability to communicate with tightly defined target markets easily and quickly, all have changed the way the world is doing business.
We are at the cusp right now of a giant labor shift away from large corporate entities with thousands of staff creating a service for tens of thousands of other companies in a cookie cutter style to very specific, niches being filled by skilled individuals. The change has already started to move towards smaller more agile businesses and will continue to become even smaller moving down to individual based businesses outsourcing what skills they don’t have to other individual based businesses.
Even if you aren’t in the tech world or have a skill set that you think is easily transferrable to an online marketplace there are massive opportunities for you right now that you may not even know exists. No longer is it the traditional design services, web and social media services or consulting that can be found online but also a huge transition towards information services in every aspect of life. This is the largest growth sector for new online businesses making money. With society being so time and goal orientated in not only their professional lives but also in their personal and active lives, new lifestyle companies are proving to be massively successful from parenting to scuba diving to online yoga classes. Every niche market within every category has opened up with giant potential to market a product or service too.
So what are the steps to making money online?
- Discover what you’re great at!
Find what you’re passionate about and what you’re really good at, ideally both. What could you see yourself getting up every morning excited to research, learn, write and do every day. What is the one activity, hobby, skill or pastime you see yourself being able to teach someone else all the lessons you’ve learned, the tips and tricks, the best places to go and see, the best equipment? What is the one area of your life you could see yourself being the expert, the go to person to learn from? You don’t have to be that person right now but you’re on your way, with some further practice, more research, more time you could easily be that person in the near future.
The key to success in any walk of life is to be passionate about what you do. The more you love what you do the easier it will be to be excited about it, be happy to work long hours at it and be successful at. Decide right now what you are good at and love and then become the very best at it.
- Discover your market
You’ve decided what you’re good at, what you love, what your passion is and now it’s time to find out how you’re going to make money at it. The great thing about the internet is it couldn’t be easier to do market research and since you’re only going to be competing online then that’s really the sole place you need to do your research. Begin by searching keywords related to your potential business on Google’s keyword tool. Try multiple keyword searches with anything that relates to your future business. You’ll begin probably seeing the same sites coming up, if not, great you’ve got a wide open market! Look at the top sites, what are they doing great, what are they doing poorly, where does your opportunities lie, what have they forgotten, what have they got right?
This is your time to do some brainstorming, start coming up with ideas that you think the market is missing. Is there a product or service that hasn’t been filled? Has the niche been poorly marketed? Overpriced? Are the sites poorly designed? Look at every aspect of your competition and start to get a feel for it and you’ll start to see opportunities within it open up.
- Discover the size of your market
The great thing about the internet is that everything is right there for you to discover. By going on Google adwords you can use their keyword tool that will allow you to put in all the keywords and keywords phrases that you used in the previous step and you’ll see how many people are searching for that keyword as well as the competition for that keyword. Remember, that this is just one search engine as well, there’s still Bing, Yahoo etc to consider. Of course, Google is the largest but there’s still a massive search volume out there on top of what you’ll see on Google. This is a great way to see the volume of searches for niches within your area as well, is there a large number of people searching for an unanswered question? Is there a problem that’s being searched for that needs a solution? This is a great opportunity for you to see not only the competition for certain keywords but also where opportunity lies for you to dominate an area.
- Develop your strategy
You’ve done all your research and discovered niches of opportunity within your market. You’ve analyzed your competition, discovered the leaders and the dogs. You know what they’re doing great and what they’re doing poorly and now it’s time to put together a clear coherent strategy to outflank, out compete and be the best in your area with exactly the right offering based on the searches that you’ve done. You’ve discovered the key problem that needs to be addressed, the answer that people are looking for and the information that remains allusive. You’ve looked at the other sites and come up with a way to better price yourself, offer better customer service, a better guarantee, an easier to navigate website and content that your soon to be customers are looking for. You’ve gone through forums based on your area and seen the questions that are being asked most frequently, people’s biggest concerns, issues and problems. You’ve looked at chat rooms and social media groups and followed discussions to see where the frustration lies, comments about your competition, what others think they’re doing great and what makes them angry. All this information is where you come up with a clear coherent strategy, the message that you’ll get out across every channel of communication you use. The look and feel of your site, your social media, the voice that you use to communicate and most importantly the offering that will make you a massive amount of money every month and allow you to finally live your life as you always wanted.
- Just do it and build
Now it’s finally time to stop procrastinating and just do it. This is the day that you decide to change your life and see it through. Things happen quickly and you can easily take the decision to change things in your life and build a very successful, money making online business in under a year. That’s the beauty of making money online, it’s not going to take a decade or more of your life but less than a year, so start today!
This was a brief insight into the hugely successful course The Barefoot Millionaire’s strategies and tactics for building a multi-million dollar business in 1 year.