How to Create Profitable Business Ideas
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I think it is “timely” that we talk about how to create profitable business ideas for your online business.
Why is it timely? Here’s why…
On Wednesday, I released our brand new List Builder Script, free for all LeadsLeap members. Shortly after the release, I received many emails from members asking what are the business ideas that can be used with the script.
Now, technically speaking, the script can be used for any niche and any business idea. The only problem is some business ideas may be more profitable than the others.
So in today’s blog, I’ll show you how to create profitable business ideas.
First, you have to decide which niche market to focus on and whether the niche is profitable.
If I were to start another online business tomorrow, I will have to make sure that……
1) The market has an ongoing supply of new products that I can promote.
2) People’s interest in that niche do not change too quickly. For example, I will not use the List Builder Script to build a business around “spyware removal” because once I provide them with the solution, they are not likely to want to hear from me again.
3) People in the niche are always craving for more information.
4) There are many affiliates in the niche that I can contact and JV with.
5) There are established websites where I can find lots of people interested in the niche. This is to ensure that I can easily find targeted traffic for my new business, through advertising or striking deals with the webmasters.
Examples of good niches are internet marketing, stock trading, forex trading, body building, holistic health and personal improvement.
If I found a niche that I see a potential in, I will ask myself 2 questions.
1) Can I find/create a useful product to giveaway?
2) Can I find/create a high value product to sell?
1) Can I find/create a useful product to giveaway?
In some niches, you can find some PLR products that you can give away. This is by far the fastest way to kick start your online business.
Another way is to create your own product, which may not be difficult at all.
The trick is to create something that is useful to the people in the niche.
Here is one idea that I just think off my head.
For example, You can create an ebook called “Online Scam Report - A complete list of scam (or near scam) programs you should avoid before you become the next victim”. Just go to Google.com and search for “scam”. You will be able to find websites discussing about different scam programs. Your job is to compile those programs into a book or if you are lazy, get a freelancer to do it.
2) Can I find/create a high value product to sell?
This is an important part in making sure that your business idea is profitable.
A profitable business idea should be able to help you generate immediate profit so as to fund your future expansion and cover your advertising costs.
This can easily be done with the One-Time-Offer feature in the free LeadsLeap List Builder Script and a powerful strategy that I’m going to share with you now.
The idea is to create a high value product worth thousands of dollars, write a sales letter that looks as if you are going to sell it for $197, and offer it for $9. This idea has never failed to work!
If you are in the internet marketing niche, the easiest way is to compile a huge package of PLR and MRR products that worth thousands of dollars.
Alternatively, you can create a high value product on your own.
For example, I’ve seen people giving away 1 website template and offer 10 website templates for $5 as a one time offer. This is a good and profitable business idea because website templates have high perceived values. At a great offer of $5, you bet a lot of people will bite.
Creating profitable business ideas is not rocket science. Once you can identify a profitable niche, all you have to do is to think of something useful to giveaway for list building purpose and something of high value to sell it cheap for immediate profit. Together with other backend sales, it is almost guaranteed that you’ll have a profitable business in both the short run and long run.
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Hey Kenneth,
I’m new in internet marketing and your post was very usefull for me. Thanks
Have a nice day
Urpo Salonen
Hi Kenneth
This is a great post. It should really help readers find and promote profitable products or to create their own products. Both are key to success with internet marketing.
Thomas Northrop
http://www.getstartvideos.com
Great post! Simple, straight forward steps for a newbie to get started with making money on the internet!
I’d just like to warn everyone that the advertisement Go Biggy and Win a Ferrari is no longer working- I think the original site had flown by the night and replace with a dummy site and I wish to remove it but I don’t know how.
Anyway, should we ping this site or ping back?
Hi Kenneth,
Great post,the kind of information I like to share with my
blog readers.
Keep up the good work.
All the best,
Joe
Home Business Marketing
Hi Kenneth
very informative post as usual, you are spot on, giving free stuff always gets peoples attention, you just have to make sure that it’s not rubbish.
As always great information being projected Kenneth, never a dull post!
Kenneth -
I just want to say thank you for giving us a great tool and good ideas to help us along in our business endeavors.
Great post as always Kenneth. Thank you for giving us such a great tool to help us get started and the information you provided makes it that much better!
I do have 1 question though. I am trying to create an OTO using MRR and PLR products I have. What is a good number of products to offer in an OTO?
Thanks again for everything!
Tracy
Why should there be a limit? The more the merrier. You want to create a deal and look so good that one would be crazy to reject it. Imagine if I give you 5 long pages of PLR and MRR products for $9, with lots of ebooks, videos and software, would you reject that offer? Also looking at such a good offer, more subscribers will be interested to become your affiliate.
LOL Sounds good to me. Thanks Kenneth!
Thanks kenneth!
The script is running now on my web site, because your instructions were so clears i didn’t have any problem.
Thanks again,
Thanks Kenneth, you always make it clear and to the point on how to start. LeadsLeap seems to be the only place I get a straight and complete answer.
Thanks again:
Rich
I just spent $600 on a script 1 month ago. I would have saved that cash if I knew that Kenneth is going to give away a list-builder script. I am sure many internet marketers will make good use of the free script here. Personal branding always helps. Even if we give away MRR/PLR products.
Thanks Kenneth for this great post. LeadsLeap is a great service & I just love it! I like your simple & straight forward way of explaining even the complex things. You make learning so easy. I look forward to reading your next post
Hi Ken
Very useful checklist in your blog especially for newbies. Hey, did you see that? I’m using an internetty term!
But, seriously, if you want to start any business - you have to have a structured approach.
And starting off without spending a penny has got to be the best idea.
Keep it coming, Ken!
My best wishes
Neville
GATEWAY 2 WEALTH
Great Post Ken! I’m looking forward to the best results ever!
Thanks!
Good Ideas thanks
First rate information as usual you really have some of the best information online about business.
Like the scam report idea thanks
I am going to give this a shot and let you know how it all works out.
I get your LeadsLeap update on a regular basis. The help it provides is terrific. This blog post is a must read and do. I am a newbie and can use all the help I can get.
http://instantpaysites.com/index.php?refer=jfain
Kenneth:
As usual, great post. I even re-posted it on my own blog. I hope it will be useful for everyone that comes to read it. Thanks.
http://ebizprograms.blogspot.com
Being new and totally confused, I can only say that what you are outlining makes perfect sense. I certainly am going to download the package and do my best to install it on a website that I have had for some time and had no idea what to do with it. Now is the time. Thanks, will keep you up to date.
Tom
This should help to all to find profitable products & to create their products. I think PLR & MLR is one of great way to make money online becuase of it’s easy & aslo not time consuming.
http://www.fastmoneyproducts.com
Hi,
Thanks for the information it will be a great help for me.
I just started an online business, it is a blog where I post the steps I take to set up an online business. Feel free to visit my blog and leave a comment http://www.whatarethestepsincreatinganonlinebusiness.com
what a great post. KUDOS
Your great post is very useful for me becuase I ‘m a new internet marketing.
Thanks for your good suggestion.
Great post, full of useful info. I love the idea of a free gift, but postage could be a problem, unless you mean a down-loadable PDF book.
Maybe a printed mouse pad with your company logo and slogan?
It’s a bit yesterday,I’ll bet there’s an entrepreneur out there with the ideal product.
Any suggestions ?