How To Find The Market Size For Niche Online Business Opportunities
How do you know if you have a large enough market?
A little old couple walked into a fast food restaurant. The little old man walked up to the counter, ordered the food, paid, and took the tray back to the table where the little old lady sat
On the tray was a hamburger, a small bag of fries and a drink. Carefully the old man cut the hamburger in two, and divided the fries into two neat piles. He sipped the drink and passed it to the little old lady, who took a sip and passed it back.
A young man on a nearby table had watched the old couple and felt sorry for them. He offered to buy them another meal, but the old man politely declined, saying that they were used to sharing everything.
The old man began to eat his food, but his wife sat still, not eating. The young continued to watch the couple. He still felt he should be offering to help.
As the little old man finished eating, the old lady had still not started on her food. “Ma’am, why aren’t you eating?” asked the young man sympathetically.
The old lady looked up and said politely, “I’m waiting for the teeth.”
We at times think we are savvy and know what is going on with any situation just by appearance or personal experience. This happens in online business opportunities all the time.
We know where the next huge market is or what the next state of the art product is that will revolutionize the industry. We see a microcosm of a situation and assume that it will apply for the whole market. We judge people and think that we know them and that we know what they are interested in.
There is a saying that goes “There is a reason why we have TWO ears (or eyes) and only ONE mouth.” Sometimes we don’t understand that listening or observing is the best action we could take.
People make this mistake all the time with choosing their markets. What they don’t realize is that they should instead let the market choose them.
There are several ways to test your niche online business opportunity market.
1) Take a look, it’s in a book…shelf.
I always love to quote Reading Rainbow and/or LeVar Burton. Who wouldn’t? I suggest that you go to a bookstore, get some Java, and check out how many books exist on your topic. If you find a couple books then be hesitant about that direction. It doesn’t always translate to online income, but you want a whole bookshelf covering your niche.
2) Google it!
The simple way to check is to type it into a search. Do it once with the parenthesis and once without. When you check with parenthesis find out how many competing pages are. If this is your first time you want to make sure that it is under 100,000 competing pages.
When you type in your phrase without parenthesis you want to check how many advertisers are targeting that topic with sponsored links on the top and side. If you have paid links on both sections with at least ten ads, then you know are in business.
This is important because if more people are bidding for keywords then more money is being made in that market.
3) One more Google tool…
Finally, the most important tool to check is the Google Adwords Tool. This is a something we talked about in the previous lesson on finding potential for your online business opportunity.
You want to go to https://adwords.google.com/select/KeywordToolExternal and type in your keywords again. This time you want to change the ‘match type’ drop down to ‘exact’.
This will only show a monthly average of how many times someone types in your keyword exactly with no other words around it. You do this to give you not only realistic searches, but even a tempered view of your keyword.
You will probably have the potential to get more traffic from related keywords, but with this number you want it to be over 100,000 in order to have a market that is realistic enough to go after. As you become more experienced and work on other niches, you want it to be over 200,000.
This is a good way to get started and figure out if your market is worth going after and if it has any ‘bite’ to it. 
The old couple story was found at Businessballs.com.
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Let me ask you what is your single most important question about a niche online business opportunity?
What brought you to Write To Right?
What would you want to see more of on this site about niche online business opportunities that would excite you, but you can’t find?
This is your chance to make this site better one comment at a time. Feel comfortable to express your inner feelings and don’t hold anything back!
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Filed Under Online and Internet Business Opportunities, Starting A Business |
Tagged With 000 competing pages, 100, choosing a market, covering your niche, google adwords tool, Google sponsored links, niche online business opportunities, online income, whole market
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But what about those of you that take advantage of the existing Online Business Opportunities, and like the idea of having their very own Internet Marketing Business but just aren’t 100% sure yet.