DAY 1: Analyzing The Viability Of Your Niche
March 1, 2010 by Tyrone
In the next 3 weeks, there will be a guest post series about Search Engine Optimization and how you can improve and optimize any niche website. It’s been a huge topic from within my membership course and it’s something that can be easily outsourced. So let’s get started…
“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.”
– Zig Ziglar -
Learn how to pick your own battles.
This may sound like a joke for many of you, but this is the primary reason why many sites or online businesses fail online.
Having a niche marketing strategy, that is focusing on a specific topic rather than a broad query allows you to perform better as you are competing with much less other sites on internet.
Your visitors will be much more targeted and thus will convert better.
Getting yourself into an overly competitive market is a recipe for disaster and a way to ensure that your site will never be found.
On the other hand, entering into an overly niche market may result in insufficient traffic volume to monetize your site or store and ensure your survival.
Remember, because you think you got a great idea doesn’t mean that other people share your feelings!
In the end, it’s all about money
Depending on the nature of your site, the way you plan to monetize your efforts may differ from site to site.
However, as a general rule, you’ll be monetizing your site through one or more of those following methods:
- Ecommerce– selling products, be it physical or digital.
- Affiliate Marketing– selling other people’s product and getting a commission for it.
- Advertising– selling ads space on your site.
- Services– selling your skills.
Regardless of the method you intend to use, you should have a number in mind as to how much money minimum you expect or you need to make out of your website for it to be worth your time.
I won’t elaborate much on it as this goes with all the information you should have gathered already in your business plan. You have one right? It would be foolish to start a business without one!
Ok, for the sake of illustration, I’m going to say that I want to start a new business online selling “nail polish”.
After my estimation, I also know that I’ll be making $1 profit for each bottle sold, and based on the marketing strategy I have established, I estimate that I’ll be able to sell 2 bottles to each customer in average.
Now, based on my expenses and personal needs, I want $2,000 of net profit per month to make this project worth.
The Weekend Disaster You Want To Avoid!
September 3, 2009 by Tyrone
Over the weekend I had a bit of disaster and my computer was struck by a deadly virus that infected 266 programs on my computer. Unfortunately for me I had to reformat and reinstall everything and basically start my computer from scratch.
ActiveCollab Review: Helps You Manage All Your Projects
July 13, 2009 by Tyrone
In today’s post I would like to share with you an excellent piece of software that I use in my business. I had been struggling in the past to manage multiple projects all at once and when you have 3 staff working for you full time, you need to have good systems in place to manage them. Furthermore, it can be a real disaster when you take on more work without having a project management software in place. You will receive more emails from your clients and programmers and before you know it, you will have forgotten who sent what.
This is why I turned to ActiveCollab. A few weeks ago I did a podcast with Adam Lever from Big Screen Promotions and on the topic of How To Outsource Your Internet Business. In the podcast we discussed about how to outsource your Internet business and also mentioned a few software products that were freely available. One we mentioned was Dot Project and this is an open source software that is quite basic. I personally felt it wasn’t enough to manage the projects and opted to another option.
ActiveCollab – A Project Management Software I Love!
When I found ActiveCollab it was originally open source and was free up until Version 1.0. Then the team decided to charge a license fee starting at $199.00 which I believe is well worth the price. A lot of times I don’t buy software or recommend it unless it either:
- Saves time
- Saves money
- Easy to use
