Whenever you have a great idea, put it all in the one place. Some keep a notebook. I personally use Evernote whenever I think of something. You can write into it, record video\/audio, take a photo of something related to your business idea, etc. Evernote has the added advantage of actually indexing any text in your image which can be incredibly helpful and time-saving when it comes to recall.<\/p>\n
2. Do Market Research<\/strong><\/p>\n For any product or service to be successful, it’s much easier if there’s a demand or need for it. It’s much more difficult to create demand.<\/p>\n To determine if there’s demand for your idea, you should do some basic research. Ask yourself the following questions:<\/p>\n For many products and services, you can get a good feel for what people are searching for, how many people are searching for specific terms\/phrases, by doing keyword research using Google’s Adwords Keyword Tool<\/a>. This process can actually reveal a lot about what are one people’s minds. If done correctly, this process will take at least a few\u00a0solid days<\/strong>.<\/p>\n Let’s say that you want to teach cat owners how to train cats to pee in the toilet.<\/p>\n You would start with keywords such as ‘how to train cats’, ‘cat training’, ‘train cats to use the toilet’<\/p>\n When you use the Keyword Tool, make sure you write it like this: [cat training] or “cat training”<\/p>\n This will only give you exact matches or phrase matches.<\/p>\n [Cat Training] gives 74,000 monthly searches. That’s a bit too generic though. Cat training could also mean teaching a cat how to use their kitty litter. If we look at other relevant searches:<\/p>\n Here we see searches such as ‘cat potty training’ and ‘training cats to use toilet.’ Bingo!<\/p>\n Generally, the more specific, the better.<\/p>\n When you do the actual search, Google will also suggest relevant phrases. Include those in your keyword research.<\/p>\n <\/strong>3. Sleep On It<\/strong><\/p>\n After you have done your research, you may still be very excited and try to do something immediately while you have energy and the momentum. You may just look at<\/p>\n You should pace yourself at this point. Sleep on it. Think about it.<\/p>\n 4. Compare<\/strong><\/p>\n Then compare your new idea vs your existing ones. How does it stack up?<\/p>\n If it still seems like a brilliant idea, then you should test it before committing a lot of time, effort and money.<\/p>\n 5. Test the Idea<\/strong><\/p>\n This step is a good way to test your idea in the real world. It doesn’t guarantee success but it increases the likelihood of the success of your idea.<\/p>\n The way I usually test ideas in the marketplace is to set up a landing page that has the essentials of whatever it is that I want to sell and then I advertise the page on Google Adwords to see what kind of results I get.<\/p>\n I usually spend anywhere from $50 to $500 on advertising depending on the market.<\/p>\n You will need a Google Adwords account to get started.\n
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