A Newbie's Internet Failure, Or How NOT To Make Profits With Your Product Online

When I originally started out online I decided to choose a niche market. Or that's what I hoped to do. I possessed specialist expertise in one specific area and I was keen to share it, for a modest price, of course. With even a few hundred customers a month buying my $17 ebook, that comfortable retirement income seemed within my reach.

There were numerous gurus out there and eager to tell me that the most effective way to make money online was to have my very own product and be in control of my own destiny. While that does have a certain truth to it, the drawback is that all your eggs are in the one basket.

What they didn't let me know about was how challenging it would be for ME to produce and promote a professional looking package that would compete with the products already for sale. Yes, I could have out-sourced it, but that would have cost a lot of money and still left me at the 'mercy' of web-site-developers and other people.

When I started working on my own product (an ebook on this particular topic) I soon awakened to the fact that although it was one mammoth project in its own right, developing a niche product was the simple part. Marketing it was the real challenge.

Undeterred I then set about studying setting up and editing the webpage, writing a blog, web 2.0, copywriting, article marketing and obtaining the traffic. I gave up before I got to the "design an affiliate program" stage. This was all part-time, together with my day job. Whew!

But what had I forgotten to do, in my enthusiasm? Deciding on a small enough niche in which to market my product!

It had 100 % escaped my notice just how vast and competitive the Internet is, and particularly how many other superb products there are out there.

Even though my product can compete for quality once individuals have actually bought it, I will be the first one to confess that it does not compete at the pre-sale stage.

It was a bitter pill to swallow even without having put hundreds of hours of hard graft into product development, mastering the skills to get myself a web site and a king's ransom into coaching.

So if you are planning to start your on line line of work, spend plenty of time choosing your niche and don't overlook the products already available on the market.

Choose a product where somebody has previously done the hard work of product development for you; use key phrase investigation and competition evaluation tools to choose a small sub-set of a target market, where a sufficient number of people are interested in some facet of the product or service; put something out to market, then, to increase your chances, rinse and repeat, possibly in a completely different niche, to spread your risk of your chosen niche failing.

If your first choice of product isn't an immediate financial success, or even if your first ten products generate only mediocre results, at the very least you will have 10 niche products "on your books" and if each one brings in just $50 a month, that gives you your very first $500 a month from ten distinct niches.

There is plenty of free advice available on how to find a niche product.

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