If you are an entrepreneur, you’ve had the experience of being struck with a “bright idea” that you’re certain will make you money. Hopefully, lots of money.
Many of the mom entrepreneurs I work with have incredibly creative minds and come up with new ideas for their businesses all the time. That’s part of what makes being an entrepreneur so much fun. After all, it’s not often when you’re working for someone else that your ideas are valued as much as you’d like them to be. When you work for yourself, you have the opportunity to turn your great ideas into actual products and services you can sell.
But how do you know if your idea will make you money? Or to put it another way, what if nobody else thinks your idea is so great? How much time, money, and energy can you afford to put into a business or a new product or service that doesn’t sell?
Well, I’ll be honest with you. I don’t have a crystal ball and am not able to tell my coaching clients how to predict what the market will like or not like. I wish I could. But there are some easy, cheap (or free) steps you can take to be sure that you create a business, product or service the market will buy.
One of the first steps is to be clear on what your niche is and knowing what your niche market needs. If you just create a business idea and hope that someone buys it, you’re probably wasting your time and money. And these are two things mom entrepreneurs don’t have a lot of.
Secondly, it helps to utilize some of the free/cheap web tools that are out there to actually do a bit of market research before you spend money bringing your idea to reality. This research will save you time, energy, money and stress, so it is definitely worth doing beforehand!
I’ll be talking more about this in my upcoming teleseminar on Tuesday, March 24th at Noon. I’ve invited internet marketing guru Steve Weber (of www.weberinternetmarketing.com) to be my guest expert and to answer all of your questions about starting a business or creating a new product or service that will make you lots of money.
You can register for the teleseminar “Is Your Idea Viable?” by clicking here. The $19 fee will certainly pay for itself when you learn some of the marketing research techniques Steve and I use to be sure our own ideas will sell.
Steve and I will be taking questions from participants on the call (or via the webcast) and would love to help you with yours. When you register, you’ll get immediate access to the teleseminar information (including bridgeline and webcast access).
“Is Your Idea Viable?” is the first teleseminar in the WoMEN: What Mom Entrepreneurs Need teleseminar series I’m offering to mom entrepreneurs who want some short cuts and support in making their business incredibly successful this year. Visit my website to learn more about the series and see who’s up next on the agenda! The series debuts March 24 and continues every two weeks through December.
Are you toying around with a bright idea that you’d like to make a reality? What tools/strategies/methods do you use to test the market before you launch? Leave a comment below and share your questions or best practices.