For this articles, I am only going to discuss on “Supply “and “Demand” principle.
For other questions, you can find the answer in my Blog Archives.
I believe a lot people have heard about the concept of “Supply vs Demand” right? If there is a demand, definitely there will be supply.
However when come to online business, a lot of internet marketer eventually ignore this part. They think of creating an “Ultimate Product” to sell online. Product that no one is selling except themself. In other words, No Competitor!
They believe the “Ultimate Product” is going to make them RICH!
You know what! you are making a BIG mistakes in your life. If your product do not have any competitors at all, then it is pretty sure that is no one searching for that product as well.
A really powerful marketing tips I learned from my Internet Guru Alex Mandossian is that “Always Improve, Do Not Invent” Find a product that already available online and improved the quality or add more benefits to that existing product. You must create a Unique Selling Proposition (USP). There is where you differentiate your business from other competitor and make them buy from you over and over again.
Alright now, you know the concept of supply and demand. How do I know what are online people searching for? What keyword there type in search engine and how often they looking for certain product.
To find out the answer, I recommend Word Tracker. It is really useful tools to do keyword research for popular search engine like Google, Yahoo and MSN. You can try for the Free trial but with limited features.
Try out and I am sure you will love it.
I would like to take this opportunity to wish all Chinese out there a
“Prosperous Chinese New Year” and Gong Xi Fa Chai!