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In the first segment of the How To Create an Online Business Series you learned about the first rule.

What I eluded to in that post is the rule mention is all you need to get started in choosing a product or service to sell online.

The second phrase in that rule is “research. So, let’s take a look at why we did that first before we picked a product or service to sell.

A good friend of mine oversees focus groups for major corporations. Sometimes the individuals get paid to participate.

He said to me, “You would not believe the amount of anecdotal information we receive that could have been missed if we did not have these sessions.”

Why is the focus group so important?

It helps the business owners to identify what people want. Keep in mind it may not be 100% accurate but it can point you in the right direction.

It’s the same with doing research online regarding the topic you would like to focus on.

You want to know if people:

1. Are spending money to learn more about your topic
2. Frequently purchase items related to your topic
3. Is your product or service a seasonal item
4. What other products and services could be offered on the back end (this is another post coming soon)

Now here’s where most people make a mistake…

…they find a product or service they “think” people would buy because they like it. They attempt to market it and a few months later nothing happens.

They blame the product or service and move on to something else.

Did it ever occur to them that maybe no one wanted the product or service they were offering?

When you conduct your research it:

1. Saves you a lot of time
2. Saves you a lot of money
3. Points you in the right direction

I already know someone will ignore these words of wisdom because it’s too “simple.”

My advice is to talk with a few people who have wasted time and money and see what they say.

It is my suggestion that  before you choose what product or service to sell you perform some research.

Take a few days and get used to the idea that you have some homework. Ahhh…

…you thought school was over? You will always be learning. Consequently, you will always have home work….work that you do at home.

Until next time!

Take care, be safe and stay blessed

P. S. I would love to share with you the exact process to conduct the research that will reveal what people are buying but that’s reserved for my coaching clients. In the mean time, prepare your mind and life to get ready for home work.

P. P. S. In the next series we will cover the importance of comparing and how it helps you to pick the best product or service to promote.

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