How To Choose A Company Name For A Business Opportunity From Home
Some stories just seem to stick better than others.
So a friend of a friend of mine is a frequent business traveler. Let’s call him Dave. He was recently in Atlantic City for business when he decided to kill some time before a flight. He took off to a local bar. He was approached by an attractive woman that said, “Hey can I buy you a drink?” Dave thought that this was his lucky night. He said sure and then a few minutes later he became very dizzy
The next thing he knew he woke up in a bath tub covered in ice. He looked around frantically for a sign of orientation only to see a note that said, “DON”T MOVE. CALL 911 NOW.” He noticed a cell phone by the tub and quickly called 911.
He explained the situation to the operator and the operator seemed oddly familiar with the situation. The operator responded, “Sir, I want you to reach behind you, slowly and carefully. Is there a tube protruding from your lower back?”
Dave reached around to feel a long tube attached to his back “Yes,” he fearfully replied.
The operator responded calmly, “Sir, don’t panic, but one of your kidneys has been harvested. There’s a ring of organ thieves operating in this city, and they got to you. Paramedics are on their way. Don’t move until they arrive.”
How many of you have heard that story before?
It is an urban legend and it sticks. People remember it like they remember a movie line or another wives tale about crossing your eyes will cause them to stay that way.
How often does a business mission statement stick with you? Especially something along the lines of “Comprehensive community building naturally lends itself to a return-on-investment rationale that can be modeled, drawing on existing practices.”
(Cough) Wow…
The same idea will apply not only for mission statements for a business opportunity from home and any idea that you want to stick with your customers and employees. When generating a name for your business this is no different. You have to have an arbitrary title that can transcend any product that will have a story that sticks to the mind of the customer and builds a solid brand.
1) Don’t Box Yourself In
Face it that more than likely your business will evolve. eBay was selling beanie babies when it started and Amazon sold just books, but both companies now have expanded into many markets. Think if eBay was Beanie Baby Express or Amazon was Books R’ Us.
People put too much stock into a name, but what it comes down to is how you brand that name and build your customer awareness to that name. When you have done that you are connecting people to an idea. Often the title can be related to the purpose of your home business model.
Look at Write To Right. It is so general that I can “write” about whatever I want in order to make something “right”. But the idea behind helping out people with a business is conveyed parallel to the name. I could have done the same thing with health, self-help, writing skills, moral issues, etc.
Make your website or business into a universal gun that can stick in any bullet you want into the chamber. This will never box you or your company in and it will pay dividends down the road when you try to sell it.
2) Create a memorable story
Chip and Dan Heath wrote an exceptional book on branding an idea called Made To Stick. That is where I got those two polar opposite stories above. Which one do you think you will remember better?
This has to be the same approach you take with your clients. You have to share with them who you are and what the direction of your business is going. This is always best expressed to them through a story for online business opportunities, franchises, home businesses or whatever operation you have. There are several reasons why:
- Simplicity - Stories allow for you to show a linear path that even a child can understand.
- Unexpectedness - The common consumer is tired of business jargon and owners pontificating so this will make you unique.
- Concreteness - Logically it has to make sense to people and this defeats the ambiguity of mission statements and high tech names.
- Credibility - Trust is created in many ways, but there is a level of connection that happens with a story that brings honesty and humility to the individual.
- Emotions - You have to appeal to the left side of your brain like the right side and often connecting on this level will fulfill their needs and wants that they would hesitate to tell you. It will universally reach them and others like them, for example look at parables.
Some of our greatest leaders and speakers have built followings based on stories. Brainstorm company names, mull over many different ideas, and find a story that fits you. Search through different business stories, urban legends, fairy tales, parables, historical stories, etc.
This will help you understand who you are and what you provide exactly for your consumer. When you have figured this out then express this to the consumer again and again because this is how they will remember you.
This is as much your blog as it is mine and now the blog is yours.
Let me ask you what is your single most important question about a business opportunity from home?
What brought you to Write To Right?
What would you want to see more of on this site about business opportunities from home 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!
If you liked this article, then learn how to take it to the next level by matching physical health with business success at Know My Body. If you would like to get an internet business started from home today for cheap then join the The Keyword Academy.
Filed Under Home Based Business Opportunities, Starting A Business | Leave a Comment
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.
This is as much your blog as it is mine and now the blog is yours.
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!
If you liked this article, then learn how to take it to the next level by matching physical health with business success at Know My Body. If you would like to get an internet business started from home today for cheap then join the The Keyword Academy.
Filed Under Online and Internet Business Opportunities, Starting A Business | 4 Comments
How To Find Your Niche For An Online Business Opportunity With Adwords Competition
How well can you narrow your niche?
You have an idea of the type of business you want to get started online, but you wonder whether your market will be worth targeting. You feel like Goldilocks testing out three different chairs. One can be too much, one can be too little, but one could be just right
So how do you find that comfortable chair? Which porridge is heated just right? Which bed is going to be the most comfortable?
The only way to find this out is doing what Goldilocks did…test the market with your online business opportunity. You need to find a personal niche market where other people are making money. This would apply even if you have assistance from mentors or franchisers in a small business franchise opportunity.
Measure It
After you have picked a topic based on your interest, you need look at some advertising metrics to figure out if a niche is large enough and whether people are willing to spend enough. One way to do this is to find out what advertisers are bidding for sponsored links on Google for your targeted keyword.
Realize that marketers bid on topics with the intention of at least breaking even on their clicks. If they can do that they can capture names and upsell their customers down the road. So they will bid higher if they can make more.
First you need to check the average bid prices on a site like Google Adwords or Yahoo Search Marketing.
Yahoo works well for some people, but now that Google Adwords is improving the quality of it’s metrics I use them as a litmus test. This is an obvious choice because all the market we are targeting are on their sites so they would have the best statistics to track keyword competition and potential.
Google Free Keyword Tool
Go to the Google Free Keyword Tool at https://adwords.google.com/select/KeywordToolExternal.
This site is going to give you a good analysis on the competition and potential of your topic. First we are focusing on potential of a keyword, which is an important step to deciding if this is a market I want to go after.
It is more important that I figure out there is enough size in the market originally then if it is too big. You can always drill down and target niche topics within your main topic initially and go after larger markets as you grow. You need to make sure you at least have a market where there is a sizable audience to advertise to or else you will hit a ceiling with no room to grow.
Type in your topic and fill out the ‘captcha box’ to show you are not a robot.
Then in the drop down column entitled ‘choose columns to display’ click on the estimated ad position. This will bring up a column showing different brackets of estimated adwords positions. 1-3, 4-6, 7-10 etc. Initially all will be 1-3
Next you want to adjust the dollar amount on ‘Calculate estimates using a different maximum CPC bid:’ to different amounts. Check out $1.00, $3.00, $0.50 or whatever.
When you do this you want to see what the positions are for your estimated adword positions. You are trying to figure out how much it costs to be in positions 4-6. That is the sweet spot for educated marketers. Spots 1-3 tend to be skewed a little because often people will bid like crazy with little education on Pay Per Click marketing.
You want to make sure that you are at least finding the 4-6 position between $0.50 and $1.00. The higher the better because that means that other marketers are making money on these bids and they can afford to pay more. Simply put they have higher profit margins.
Next step we want to not only make sure there is money to be made, but that there are enough people searching for your topic. There are some ways to test the size of a market that we will discuss in the next course.
Some Suggested Resources
A lot of these notes I have come to realize over time from other successful internet marketers. Some of the people I suggest you take a look at is Courtney Tuttle at courtneytuttle.com, Dr. Glenn Livingston, and Perry Marshall. There are also plenty of other solid marketers that we will continue to talk about and provide worthy information from.
This is as much your blog as it is mine and now the blog is yours.
Let me ask you what is your single most important question about an online business opportunity online?
What brought you to Write To Right?
What would you want to see more of on this site about online business opportunities online 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!
If you liked this article, then learn how to take it to the next level by matching physical health with business success at Know My Body. If you would like to get an internet business started from home today for cheap then join the The Keyword Academy.
Filed Under Online and Internet Business Opportunities, Starting A Business | 3 Comments
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