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Five Ways To Know if Your Idea is a Turkey
So you want to start a web business, huh? As those of us here
in the US ponder our holiday of Thanksgiving-with its
traditional turkey meal-I thought I would share 5 ways to know
if the idea you have will actually make you money if it is just
a turkey.
Here are the Turkey Alerts:
- You want to start a business to tell others how to succeed
in business when you have never succeeded in business yourself.
Genuine poultry. Not only is the market very saturated-meaning
it will be tough for you to make a dent-without having done it
already yourself. Trust me, despite what you may have been
told, it is NOT easy to break into this market.
- Your idea is completely new-no one's ever heard of it before.
If the Turkey scale goes from 1 to 10, with ten representing a
20lb Butterball, this one comes in about 7. You should have a
unique slant on your offer. That's good. But it takes a great
deal of ADVERTISING (read DOLLARS) to introduce people to a new
product or a new concept. When you have a totally new idea, you
have to not only educate people about WHAT your product is, you
have to convince them they need it.
A better approach is to find out what people already want then
give it to them.
- You have to pawn your wife's wedding ring to start.
Again, there are times when this might be smart, but in general
the more money you borrow at the beginning of your business the
tougher it will be to survive. Try to start your business on a
shoestring and grow it from there.
- Make EVERYBODY Your Target Market.
This turkey seems to be a good thing. After all, why not market
a product to everyone! Think of all the sales! Think again,
pilgrim. The highest earning websites are those that identify
and market to a specific segment of the population. Like the
multi-pierced or circus clowns.
- Market to a TINY Niche.
So then, this must be the key. Well, not exactly. There has to
be enough demand in the market to make money. If there are only
362 Brazilian basket weaving monkey owners in the world, you
probably don't want to target that market-even if you all go to
the convention together.
There you have it-five turkeys that are sure to kill your
business.
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