Finding the inspiration for your next internet marketing venture or website can be difficult. It’s difficult to know whether something will make you money or end up as a waste of time. To be honest, 80% of ventures may end up being failures while 20% will be huge success and generate the majority of your income.
The Keyword Research Method
The most logical method is to do preliminary keyword research, research the competitiveness of that niche, evaluate whether there is potential to generate passive income and, finally, a cost benefit analysis of whether it is worth investing time and resources before proceeding to move forward. This is probably the most popular way to approach internet marketing, so I won’t go into too much detail. There are plenty of other resources on the internet that cover this topic and are written by people much more qualified than I.
One thing I do want to note with this approach is the research factor. This path is front heavy with research being, by far, the most important step and involving the most time. You don’t want to begin a venture until you find the perfect niche. Using a keyword research tool like LongTail Pro can speed up the process, but keyword research can still take a lot of time if you’re new to it. But, this was the method I first used and it does in fact work if you learn to calculate competitiveness and potential traffic volumes.
The Life Steps Method
This is my current approach to finding my next internet marketing venture. I made up the name, but it’s pretty self-explanatory. Many people don’t approach internet marketing in this way, but I believe it contains inherent benefits that will increase your chance of generating income while staying motivated throughout the process
In my mind, the life steps method can be summed up as the processes of finding aspects of your life that others would be interested in learning about and developing a product or website around. These life steps could literally be anything from your diet to how you approach raising your child. The value lies in not what you are doing, but how you approach it and what you’ve personally learned as a result.
My Personal Example
Generally I don’t like to divulge the urls of my websites or ventures. I have a few personal reasons for this, but I do want to tell you of one specific example.
Two years ago I decided to become a personal trainer and signed up for the NASM Certified Personal Trainer exam. I studied for a few months, took the exam and, thankfully, passed. Upon completing the exam, I realized that I had accumulated quite a bit of study materials. 3 months of studying resulted in almost 80 pages of notes, a study calendar and a few tricks I had learned along the way to memorize challenging topics. I had really wanted to pass on the first try and the study material I had created was pretty good. In fact, I thought it was so good that other people might also benefit from them as well.
Knowing this, I proceeded to start NASMStudyGuide.com and blog about my experiences studying for the NASM CPT Exam. I thought I had done pretty well and could provide a high value to others taking the exam. I eventually began to rank in the organic search listings and started getting traffic to the site. Taking a look at the analytics, most people visited 10+ pages and my average time on site was over five minutes. Not bad for a blog with study tips and tricks! After receiving good feedback from my visitors, I turn the blog into a vehicle for selling my entire study guide for $19.95.
Obviously selling a study guide wasn’t going to make me a millionaire. But, the site provided an additional passive income stream and generates a few hundred dollars a month with little additional work. Not much income by itself, but 5-6 more life events like that and it’ll amount to a nice total each month.
The beautiful part is that the entire project was just an offshoot from something I had wanted to achieve outside of internet marketing. It was less of a business and more of a way to build upon my passion for fitness. Researching and writing articles about something you’re not interested in can be mentally draining. You can quickly lose motivation and the amount of time you invest in your venture can slowly whittle away to zero. On the other hand, developing a site about something you’re already interested in can keep you motivated until you start seeing the money come in. At that point, each additional paycheck is motivation in itself.
The first hurdle is realizing that you have skills and knowledge that others would want to learn. Never undervalue your own knowledge, experiences or skills. Everyone has an interest that thousands of other people are also interested in. Identifying that interest and finding a way to reach your audience is the key. As you progress with your life, career and family, keep an eye open for new experiences that you are embarking on and are having a challenge with. If you’re struggling with it, there is a high chance that others are to.