Know Your Market, Know Your Business

What is the very first step to building a solid, fast-growing, long-lasting business online?

Many people guess it is one of:

• Put up a website
• Start a blog
• Develop a product
• Build a list
• Generate traffic
• Become an Amazon affiliate

Not quite, there is one FUNDAMENTAL step that has the most impact to how fast and how big your business will grow.

Step 1 – Know Your Market, Know Your Business!

It doesn’t matter if you are hoping to sell affiliate products, produce your own infoproducts, generate advertising revenue or any other online business model, Step 1 should always be knowing who you are targeting and why matched with a solid value proposition that meets significant demand. 

All that you do to build your internet business should be based on who you serve (your target market) and what value you bring to your market in exchange for profit (your Unique Value as well as your method of monetization)

Let’s look at these two factors more closely.

1. Know Your Market.  There are billions of people online performing Billions of searches viewing Billions of web pages and spending Billions of dollars…your ability to capture a portion of that activity, placing yourself between that customer and their e-commerce transaction has everything to do with how well you know and target them.  In the vast sea of websites, noise and legitimate competition you can rise to the top ONLY if you do a better job at knowing and targeting your prospects.  Inside InfoMarketer’sZone we spend the first 3-weeks of our 6 week InfoMarketing Profits Video training on uncovering and understanding markets online so that we can rise above our competition and WIN every time. 

2. Know Your Business. Once you know your market and understand what challenges, desires and problems they want to overcome, your next job is to know what value you will deliver to them and the business model that surrounds delivery of that value.  The real secret to making big money with your online business is understanding the emotional flow of e-commerce activity online (where it is now and where it will be tomorrow).  Once you understand that flow, you can better put your online business in front of that flow instantly racking up sales and profits that grow long-term. 

Before you build websites, start list building, blogging or affiliate marketing…make sure you know your market and know your business.