1) The whole online business model is a Symphony of Four Parts. And yet, most people start with the last part and hope for the best. The proper order of the Symphony is: Market Research, Traffic, Conversion, Product. Typically, folks develop their product then put it out on the 'net and sit back waiting for the $$ to roll in. Don't quite work that way folks! Now, I've been guilty of that myself, to a point. We'll see how that goes....
2) Did you know that 95% of the mistakes online business owners make are in Market Research? Whether they don't spend enough time in MR or just don't follow through, they aren't getting the information they need to accurately sound out the world to see if they have a chance in their business.
Ed also reviewed the tools that we learned about during the Preseason. Although I found out (too late) that I didn't HAVE to go through the entire preseason beforehand, I'm glad I did. I have a good working knowledge of the tools that I'll need as I tackle the 30DC.
The third video for today was a quick overview of how to generate ideas for a specific market to target. I loved the idea Ed shared with us about using Amazon.com's magazines to get good ideas. He also shared (on the website) a list of several dozen sources to search for ideas. He recommended that we come up with 5-10 ideas to get started. I've got 10, but three of them are ones I'm already working with. So really, 7 new areas I'd not touched in the past...or even thought of, for that matter!
Now to see if any of them will work.....
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