One Month to Your Own Online Business
Your initial market research…
Before setting off on your market research journey, it might make sense to take stock of your own situation, and what you already know.
By doing so, you might be surprised how easy it is to come up with some ideas about the kind of information that people need.
For example, we have already mentioned people with back pain. Extend this idea, and you come up with people who are suffering from arthritis, people looking for information about gout diets, people with irritable bowel syndrome and so on.
None of these conditions is particularly life-threatening, but every one of them is a painful blight on the individual sufferer’s life.
How about people who are suffering financial problems (debt is one of the few growth industries at the moment!)? Would a person whose house is just about to be taken from them qualify as someone who has a desperate need?
I think that you could safely say that they would qualify.
I am not for a moment suggesting that you ‘prey’ on these poor unfortunates – you should only work with what you’re comfortable with, and you must be very confident that the information you provide to these people is of value and will help them.
All you are doing at this stage is listing down ideas, and if you are not personally comfortable with any idea you come up with, don’t go with it. Ideas are not in short supply, so just keep researching until you find something with which you are comfortable.
The World’s population is getting (much) fatter at an alarming rate. Do you think that people who are seriously overweight have psychological or emotional pain caused by their seeming inability to do anything about solving their weight problem?
Once again, the answer can only be in the affirmative.
Think about people who have just separated from their partner. If you could provide them with information that helped them to get that person to come back to them (assuming that that is what they wanted), it is a foregone conclusion that it wouldn’t be that difficult to find a hungry market.
What about people who don’t have a partner but want one? Online dating is definitely a market where people who have a real need are to be found!
Do parents ever have problems with their teenage children? Of course, they do – all the time! They need help, so here is another one to add to your list.
After you have brainstormed for a while, you will probably already have a list of potential markets to consider. Let’s expand that list a little further by looking at some of the online resources that allow you to discover the kind of information that people are looking for.
Yahoo! Answers
Yahoo! Answers is the internet’s #1 question and answer website, a place where Yahoo! member can post a question about almost any topic under the sun and have that question answered by other Yahoo! members.
The site is completely free to use, and is available to any registered Yahoo! member. The quality of most of the answers that you will find on the site is questionable at best, but the important thing for you is that you can use this site to discover what kind of information people are looking for.
There are several different ways to use the site to establish the kind of things that people need to know. One option is to scroll a little way down the homepage and to switch the ‘Answer Questions’ window to show the most ‘Popular’ questions:
Alternatively, there is a list of categories down the left-hand side of the page, and there are several of these categories (and sub-categories) where an educated guess would indicate that people need information rather than want it. An example would be the ‘Health’ category, but others such as ‘Education’ and ‘Family & Relationships’ can sometimes turn up some very interesting ideas:
The ‘Personal Finance’ subcategory of the ‘Business & Finance’ category throws up quite a few questions that would give you an indication of the kind of information that people are desperately seeking:
Regards, Coyalita
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