How to Make Millions – The Exact Steps You Must Take to Make Millions With Your Home Based Business
The more specific the steps you take, the better your chances of reaching your goals. You want to focus on an exact step by step plan. The importance of this cannot be understated. Too many home based business owners muddle through their days, never accomplishing their goals. Why? Because they never set any real goals for the day, or any long term goals. If you have no goals, you will have trouble planning, because you don’t know exactly what you’re planning for. You have to set goals, create a plan to achieve them, then follow the exact steps necessary to make your plan a reality. Along the way you’ll need to have the flexibility within your plan to account for changes in the business environment.
Here are the steps you must take to make millions. Follow them in the order they’re listed. This post will address step number 1. Following posts will detail the additional steps of the plan.
How to Make Millions – Step 1
Choose your target market. It’s pretty simple really. You have to know exactly who you’ll be marketing to in order to know what they want, what motivates them to buy, what product or service you ca satisfy them with, and how to deliver what they want once they’ve purchased it. There are other things that are essential to making your first million (or any other amount of money), but your first step will be choosing and learning your target market.
This is yet another reason to create a formal business plan. You should even create formal product marketing plans for each separate line of business, product, or project you are going to develop and take to market. The more narrowly you can define your target market, the better you’ll be able to create an effective marketing plan.
Too many people choose their product first, then try to find a market for it. That’s backwards. If you have defined your target market and have intimate knowledge of it, you can then find or create the perfect product that meets their needs. There are some very important criteria to consider when defining your target market. If your market meets them, you will have a much easier being successful.
To grease the wheels for your success, your target market should have an urgent need for something you have, can create, or obtain, the ability to provide for them in a profitable manner. That’s important. The navy may have an urgent need for additional aircraft carriers, but that’s not something you’re likely to have much luck in supplying.
Markets that need solutions for basic needs or even better, urgent problems, are ripe for you to market products or services to. You’ll typically want to find a large and hungry target market and then find a profitable subset of it, or niche, that you can serve. Your task as a marketer is to provide a quick and easy solution to a consumer’s problems, but first you have to find who those consumers are and what problems they urgently need solved.
How do you find such hungry markets? As with finding out almost anything, it will require research. Bit, fear not, it’s not as difficult as it sounds. There are places you can go to help you gauge interest in a market. Here are 4 ways you can find markets to serve; Amazon, eBay, Google, and Wordtracker. Each has a tool that will give you the most popular searches, or a list of categories that you can check to determine what people are buying and/or selling.
Using Amazon.com to check for large and profitable target markets requires just a check to see what books are selling well in the non-fiction categories. Consumers who are interested enough in certain subjects to drive books on them up the Amazon charts represent a sizeable market. http://www.amazon.com/gp/bestsellers/books/53/ref=pd_ts_b_nav
You’ll also see a category list down the left side of their web page that gives you additional categories you can use to segment your market.
On eBay, you can see what products are selling well because eBay is thoughtful enough to provide a list for you at http://popular.ebay.com/. There you’ll find hundreds of popular market niches you can investigate further to find a hungry one you can target. Keep in mind you are not yet looking for a product to sell, only a market that is hungry to buy.
Google is a fantastic resource because you can see what keywords have high search volumes. Check out http://www.google.com/trends. This gives insight into what people are looking for, and what problems they may need solutions for. After all if they are asking questions, they need someone of provide the answers, weather that’s in the form of information or a physical product. You can position yourself to provide either, so at this stage you need only be concerned with finding a market to satisfy. Later we’ll look at choosing products or services you can market that will do just that.
In the next post, I’ll look deeper into finding a profitable target market and how you can determine which markets are likely to be profitable for you.
