In today’s Q&A with S&J, Sarah asks us:
“I have lots of ideas for an online business. How do I research which one would be best to pursue?”
Shane: What’s up guys, this is Shane and Jocelyn for flippedlifestyle.com and we’re recording another episode of the Q&A with S&J Online Business Podcast. You can watch the podcast on YouTube on our YouTube channel or you can subscribe over on iTunes. We do a lot of these Q&As for our Patreon followers, for the members of our Flip Your Life community where we answer real people’s questions about online business, and Jocelyn’s got today’s Question.
Jocelyn: Today’s question is from Sarah. Sarah says, “I have lots of ideas for an online business, how do our research which one would be best to pursue?”
Shane: Alright, this is a question that we get probably from every single person we talked to is how do I know if my idea is a good one, how do I know which I did a pick, how do I know if my idea will actually make money online. It’s very difficult on the answer because the only way to know for sure is to try you’re going to have to pick one of your ideas and go for it but there are ways to make a really educated guess to make sure that you’re on the right path. The quickest and easiest way to look at an idea is to see if other people are already making money like this on the internet and there’s two quick ways that you can do to kind of give yourself a barometer or a check point to say “hey, there are people actually making money in this space online.” The first thing you need to do is go to Amazon and see if anyone has written books about your topic. Maybe you’re a tax expert. Go see if anyone has written books about you know saving money on your taxes, or maybe you’re a chef. Go see if people are making money off cookbooks in your space, like the kind of food that you cook. That’s a quick and easy way to say hey, people took the time to write a book about this. People took the time to go get a publisher a publisher actually picked them up and actually created this book and they’re selling it. See if the book has reviews. See if the book has sales. If it does, you’re probably on the right path because in most industries
they’re not going to go through the trouble of writing and publishing a book unless that book is going to make some money. Okay, the next thing that you can do very quickly is go to Google. Go to a search engine, type in a search result related to whatever you’re going to do. Maybe you’re a football coach, so you go type in “football playbooks”. See if there are ads being bought in that space for those keywords. When you see the search results, if you’ve got two or three ads at the top of the list, that’s a really good clue that there’s probably money to be made on this idea, because if people are buying ads, they’re doing it to make money, so they’re probably making money that they’re spending on the ads. That’s a great clue that yes you’re probably on the right path.
Jocelyn: Another thing you can do is Google keyword research. Google has a really amazing keyword research tool so you can go in see what people are searching for and write content or possibly even products that are related to those searches and that’s something that we did from the very beginning when we didn’t have a lot of money to spend on ads. We did a lot of google keyword research and try to write content that would interest people who were searching on Google.
Shane: Yeah, keyword research is an extremely valuable tool that you need to be using because that’s going to tell you, hey these people have a problem, a problem bad enough that they went to search for a solution and then I just need to write about and create content about what they’re searching for and they’ll probably buy something from me if I can create what solves their problem, okay. If you need some help doing keyword research or vetting your idea, we do have a training on this exact topic in our Flip Your Life community. To learn more about that head over to flippedlifestyle.com/flipyourlife.
Jocelyn: and if you have a question for the Q&A with S&J, you can head over to flippedlifestyle.com/patreon, that’s P-A-T-R-E-O-N to learn more about how to ask your question.
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