It's Exciting To Choose The Right Concept Or Niche Market For Your Home Business. At Last You Can Cu

By Author: Dan Farrell
Total Articles: 15
Comment this article

It's exciting to choose the right concept or niche market for your home business. This is when you at last get to put all the ideas you have about starting your new business into an actual business concept. In order to choose your business idea, give yourself some choices. Sometimes one idea will not work and you will need to have some back up ideas.

Look to 3 sources for ideas:

� A hobby: You can always take a hobby to build a business from, since it is something you love to do. Then you will get a lot of pleasure from your daily tasks. And this is perfect niche marketing.

� Look to your experiences in life: Some experience that you have had may give you an idea for a business. An example would be that you have done creative cooking all your life. You could take that experience to put together and sell recipe books. Or how-to books.

� Your talents: Everyone has one or more talents within them. Dig down and see what yours are. You can start a freelance business using your talents.

Defining your niche market:

1. List a number of ideas, put them in order of preference

2. ...
... Go to the site listed here and put a key word into the overture suggestion tool box: http://inventory.uk.overture.com/d/searchinventory/suggestion/This will bring up the amount of searches that have been done for your keyword and will represent demand.

3. Put the same keyword into Google search engine http://google.com, this will bring up any websites related to the keyword and will represent supply.

4. If you find a topic that is demanded in quantity but low in the suppliers, you will then make money. This should be your special market for which you do your niche marketing. You will do better with a specialized or niche market because you may be able to completely do away with the competition. Go through your list of ideas until you narrow it down to about

5. Then go through them again and see which one will fit into a niche market.

Establishing your USP:

Once you have your market picked out, you will need to work out your USP or Unique Selling Point. This is the thing that makes your product different than all the other similar products out there. Many businesses don't get their USP nailed and find that the competition will put them out of business. You can't neglect it in the competitive world of Internet selling.

There are two reasons you need to set yourself up as different from others:

1. Beat out the competition

2. Let your customers know why your product or service is better than others provided.

Deciding on your business model:

Consolidate your ideas, by all means, but also choose the business model to follow. Here are a couple:

� Affiliate Marketing - joining some affiliate programs that will target your market and business idea.

� Network marketing (MLM)- again this will target your market and idea.

� Online Marketing - selling a product|taking the product and selling it|selling your product or service.|the easies and fastest way...private label products!}

� Service- using your talents. This will also include doing freelance work.

You can see there are a number of things you will have to do to get your business concept into operation. But it's worth it to plan and take care in developing it. It will be your foundation, after all.