Five Ways To Know if Your Idea is a Turkey
So you want to start a web business, huh? As those of us here in the US ponder our holiday of Thanksgiving-with its traditional turkey meal-I thought I would share 5 ways to know if the idea you have will actually make you money if it is just a turkey.
Here are the Turkey Alerts:
1. You want to start a business to tell others how to succeed in business when you have never succeeded in business yourself.
Genuine poultry. Not only is the market very saturated-meaning it will be tough for you to make a dent-without having done it already yourself. Trust me, despite what you may have been told, it is NOT easy to break into this market.
2. Your idea is completely new-no one’s ever heard of it before
If the Turkey scale goes from 1 to 10, with ten representing a 20lb Butterball, this one comes in about 7. You should have a unique slant on your offer. That’s good. But it takes a great deal of ADVERTISING (read DOLLARS) to introduce people to a new product or a new concept. When you have a totally new idea, you have to not only educate people about WHAT your product is, you have to convince them they need it.
A better approach is to find out what people already want then give it to them. When I want to see what people are already looking for I use these two tools:
3. You have to pawn your wife’s wedding ring to start
Again, there are times when this might be smart, but in general the more money you borrow at the beginning of your business the tougher it will be to survive. Try to start your business on a shoestring and grow it from there.
4. Make EVERYBODY Your Target Market
This turkey seems to be a good thing. After all, why not market a product to everyone! Think of all the sales! Think again, pilgrim. The highest earning websites are those that identify and market to a specific segment of the population. Like the multi-pierced or circus clowns.
5. Market to a TINY Niche
So then, this must be the key. Well, not exactly. There has to be enough demand in the market to make money. If there are only 362 Brazilian basket weaving monkey owners in the world, you probably don’t want to target that market-even if you all go to the convention together.
There you have it-five turkeys that are sure to kill your business.
Kevin Bidwell is owner of
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