There’s no better way to figure out what people want than by “listening” in on their conversations.
In the offline world, you do that by listening to your customers, attending conferences, clubs, societies and networking institutions like the Chamber of Commerce or other trade associations.
The online equivalent are forums, discussion groups, chat groups, business clubs, mentoring organizations, membership sites, etc…
When I want to test a new market, product idea or concept – I type in my area of interest plus the words “discussion forum” into Google and find a few active, high quality groups to “listen” in on for a few days.
Look for patterns, signs of frustration and desire – you will no doubt find these very quickly.
You can even ask for opinions of information or services people desire and would pay for – if you are subtle.
Believe it or not, you do WANT to find competition. If you are considering a product in an area that seems to have NO competition, then be concerned.
To limit your risk and truly believe there is demand for your idea, you need proof that a market exists AND that they will spend money on your area of interest.
The best proof of all is a past history of spending money, you can find that by looking – even networking with your competitors.
Once you get a read on the top 5-10 competitors in your field, purchase their products and services – find out what they are offering and most important – how you can improve on their offer to help your customers to achieve their desires faster, less expensive, more complete or better way.
BUILD A LIST FIRST
A terrific way to tap into specific ideas for your own products and services is to go ahead and setup a website aimed at your target market, then offer related affiliate products – but most important…
Focus on building a list from the traffic you attract.
Once you have a few hundred people on your list, you can survey them, start a forum, an interactive blog or use any other method to get their feedback on ideas, products and services you could offer them.
My recommendation is to NEVER just leap ahead into developing products that take months to develop BEFORE using the techniques outlined above.
Finally, there is a service that can take the mystery out of finding niche markets and product ideas that has been just launched!
In fact, they even go so far as to offer you pre-packaged books that you can immediately sell, or use the content as you wish in several niche markets.
This can cut your time down by months to getting your own income-generating, niche products to market – it’s an incredible service, well worth investigating…
Being smart about idea generation and testing is what separates the TOP GUNS from everyone else online. If you want to be an elite online business owner, use the techniques above to leap ahead of your competition.
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