As a coach and consultant, I get quite a few people who come up to me and tell me about this great idea they have for a web site. One common question is, “Where do I start? What should I do first?”
The answer puts most people off. They think I’m Mr. Negative, when in reality this simple answer could save your thousands of dollars.
Here are some possible answers to this question:
1. Build a web site
2. Write a sales letter
3. Develop the product
4. Build a simple squeeze page and email list
5. Create a blog
6. Hire someone who knows what the hell she or he is doing
7. Pick up an Internet Marketing and/or SEO course
8. None of the above…
Quick! What’s the answer?
Next, I want you to pick the WORST answer from the above list. Got it? Are you sure?
Ok, here are the correct answers. I’m sure some of you with a hot idea will not like the answer and will probably send me hate mail for even saying it.
The correct answer is 8 – None of the above. The reason is because the most correct answer is not in the list. I’ll get to that in a minute.
The worst option in this list is number three… talk about putting the cart in front of the horse… Whatever you do, do NOT go right to work on developing the product. I know, this may be your instinct. For much of my career it was my instinct too, and that’s why I have hundreds of ideas and products that never went anywhere. Because I skipped the first step.
This magical first step is your savior, even if (especially if) it turns out to be a kill-joy.
Above all else, you need to do market research on your idea before you do ANYTHING else. This market research must guide the creation of the product (toward a specific target audience) and the marketing plan. I recommend the marketing plan be your second step, and from there it’s going to depend on your skill set, niche, and many other factors.
A blog is a good place to go after the research is done, or a simple landing/squeeze page to fill up an email list. You can use the email list to gauge the market need for your product, before you spend the time and money creating it.
If your research shows there’s no competition… then something is wrong. Don’t get excited, because you probably have a loser of an idea. If you’re persistent, you need to at least try to get an idea of the market reaction to your product and who can sell it to.
I will share one little ray of sunshine. Most times I’ve tried to launch something into an “empty space” (no competition) I’ve failed miserably. But there are rare cases where I had a feeling about the market, so I spent a lot of time analyzing what the people were thinking without having a product to sell yet. I tried forcing existing products on them, and got slaughtered. But when I took the time to really identify with them, I managed to do well in that area.
So it is possible if you have a well identified market, even if the competition hasn’t figured out how to sell to them. But, for the most part you should stick with markets that already exist with a demand for your type of product. Life will be much easier that way.
Don’t get too discouraged by competition. It’s a good thing. Just take the time to figure out how to do things better than they are. Find a competition advantage and leverage their public resources to build a better product or service.
One last thing. If you’re truly serious about getting started in the internet marketing industry, then I recommend you get a coach who understands the industry and can guide you.
One warning, if you’re going to have questions then you should get a live, one-on-one coach. Make sure if you sign up for a program, that’s what you’re getting.
I do have a couple of spots open right now for my own coaching program. This is my program… you get me personally, live on the phone with you and no one else (unless you want to conference in a business partner sometimes).
There is a warning. This is not for everyone. I do have an interview process and you do have to be accepted into this program. It’s not cheap, but in this industry it’s a bargain. I love coaching people and helping them succeed. So if you have no intention of building a real business, I don’t want your money. I will drop you from the program if you can’t follow through. That’s not to say I won’t stick with you during the tough times, but if you just want to complain about your bad luck, then you’ll need to find another outlet.
If you’re interested, drop me an email at jeff@mimsin.com with your phone number, brief biography of yourself, and a description of your goals in the internet marketing field. Very important – Include your most pressing business question. We’ll cover that in our first session. Also be sure to send me at least 3 good times to call you for your initial session.
The first session is free.
