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Online Businesses That Don’t Fail

September 5, 2009

Many people who are trying to dream up a domain name for their business discover just how common a unique idea might be. Welcome to the web! Trying to find a domain name that has not been taken is classic needle in a haystack. You can short-cut the process by doing your keyword research first.

If you know what search terms people are using to find your products and services you can back your way into a domain name that gets more merit in those searches. And that’s just the beginning of understanding how to take an idea online.

What I have also come to discover is that there is a proliferation of people out there with great ideas and many of them may even have an idea similar to yours. EXECUTION is what turns an idea into an enterprise. And that is what separates the men from the boys (and the girls from the women).

Execution is a matter of process. I mean process in the literal sense. A successful business needs a roadmap. No successful business that I know of flies by the seat of its pants and many may get there after a lot of failures, trial and error and sometimes costly ventures. But ultimately, a successful business lands on a formula, a process that allows them to deliver consistent results for their clients.

I work with a lot of people who want to start an ecommerce business for many reasons. For the most part, they all have good ideas and most have a good general knowledge about their wares. But very few know how to manifest their ideas online.

There are two roads to take in light of this. The first is to “jump in” – wing it! The second is to find a process that will work for your business. Even if you have to pay more money initially for the second option, you will save time, money, head-aches and heart-ache by the time your business begins to generate a return. If you go the first route, you may in fact never get there. By our conservative estimate, 70% of new online ventures fail.

The good news is that the process for developing your online business is quite easy to execute if you get a little guidance. Here are some of the basic things you should research and understand before embarking on an ecommerce business.

Keyword Research

Keyword research equals market research. People that skip this step are not only shortcutting the process planning stages, they are undermining their ability to succeed! There are plenty of free resources on the web to not only do your research but also educate you with respect to what you should be looking for.

For example, if you decide that the most general search term in your category is one of the ones you’ll focus on, you might as well just beat your head against the wall! The point is, there might be a LOT of searches relative to that keyword BUT you may not ever show up in the search engines for it. The scope of this article doesn’t afford time to explain the process of choosing keywords that you can rank for, so I’ll save that for a future article. But rest assured that this is one of the most important steps in the process.

Continue reading : Online Business That Don’t Fail

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