Use The Probability Factor To Start Your Small Business Home Business

How do you find a business that is right for you and has a great probability of success? There are two steps that you should take.

1. Pick something that interests you. Better yet, pick something that you are passionate about. If you are not interested or you don't like it, the work rapidly becomes drudgery and you will likely quit after having invested a lot time and money.

2. Find out if there is a market for you business. This is important because if there isn't a market, you could spend months developing your product and if only a couple of people care about it, and no one else is interested, you just wasted a lot of time, money, and potential income.

How do you find out if there is a market for what you want to do?

3. Do a search on Overture inventory.overture.com/d/searchinventory/suggestion/ and enter one or more words that describe your business. The suggestion tool tells you how many people have searched for your term in the past month. Multiply that number by five to figure the approximate number of searches in the past year. This will tell you how many people are searching for your product or services.

4. Look at the top 20 returns for your product on the search engines (Google, Yahoo, and MSN) to see what competition you have. Review your competitors' sites to see what they are doing well and to see what they are doing poorly. You may be able to see at what price they are selling a product or service similar to yours.

5. Look at the ads presented by the search engines. They are usually located above the search results and to the right of the search results. If there are a lot of ads for your search terms, then there is probably a market for your product or service.

6. If you have found that there is a lot of activity, go to uv.bidtool.overture.com/d/USm/search/tools/bidtool/ and enter your search terms to see how much people are paying Yahoo to advertise your keywords using Pay Per Click. To use PPC you bid for placement on the Yahoo search engine pages. The higher you bid, the higher your placement. If your competitors are bidding $1.50 or more it is a good indicator that there is a real market.

If there is little activity, then you probably won't do well and should look for something else or reframe your product or service.

If there appears to be a lot of activity for your product or service, then go for it!

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Related Information of Interest:

How You Meet Adwords, Google AdSense’s Fraternal Twin?
They are the fine men and women who are willing to part with some coin of the realm every time a visitor to your web site chooses to click on an AdSense ad. Google grabs the cash from the AdWords' member’s account, keeps some of it for themselves, and gives the rest to you. How much they keep and how much give away is a State secret, but who cares; just as long as we’re getting ours each month.

How AdWords Works

AdWords provides pay-per-click advertising to merchants who are willing to shell out anywhere from a minimum 05 .05 per click all the way up to a maximum of $100 per click. Can you imagine anyone paying $100 just to have someone click on an ad?

Anyway, the advertiser joins the AdWords program and gets a control panel similar to the one that we AdSense users get. They can write their ads, pick their keywords, and establish an advertising budget. They get tools to track performance as well as to help them pick keywords. There are no monthly minimum spends required and they can turn their ads on and off at will.

Once an advertiser is happy with their ad, it gets released to the network and shows up on web sites like yours and mine. That’s if the keywords on your site match the keyword requirements of the brand spanking new ad, of course.

They can’t “buy” their way to the top

Google doesn’t simply push the people with the highest paying ads to the top of the SERP (Search Engine Results Page). They use a rather fair methodology that takes into consideration not only the maximum CPC (cost per click), but also includes a secret recipe for determining an ad’s placement based upon the number of clicks the ad receives. So, at least in theory, an ad paying .05 per click could rise above one paying $5.00 per click if it’s more popular with Google’s audience.

I say “in theory” because if the owner of the $5 ad is paying attention then he or she will see that they are being bested by a lowly nickel ad and do some serious rewriting to get back up to the top where they belong.

Personally, I’m not sure that I have the guts to invest a lot of money into hoping that people who click on my ad will actually buy something, since I still have to pay Google whether I make a sale or not. But, as a dedicated AdSense user, I’m sure glad that my AdWords brothers and sisters have more nerve than I do. And you should be thankful as well.

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