Instead of writing about what might be 20 years from now, let’s tackle the next five years. Looks like an economic downturn that might be a bear. What life preservers exist? Jobs could get scarce. Job security could vanish. But the Internet will still be there and will be the power line for any recovery to come. Even if people tighten up and don’t have as much available cash, some things have to be spent. Like food and clothing. And maybe information on starting a business. Think about it, if you lose a good job, and jobs are scarce, what can you do? Sure, look for another job, but consider selling something in addition.
It’s not easy but there are ways to make a living working for yourself. It all depends on what you have to sell. If people need it, you can sell it. Even in a recession. The idea is to identify what you have that people need and want. If you don’t have it, then find it. Remember that old saying, you have to sell something, either your time or a product. Your time is limited, but a product – even someone else’s product – can be sold time and time again. So, let’s talk about how to sell things people need or want.
Most people who start their own businesses do so when they see something they like and they assume a lot of other people will also like the same thing. Very poor decision. And most businesses go broke in the first five years. Mainly, I suspect, because they tried to sell something not many people wanted. Or not enough people, anyway.
The internet is something new. It’s very cheap to start a business – cheaper than any other method. Even a website is easy – see how to do it yourself here. The idea is to find a product or service and sell it. But you start by asking what people need rather than what do you have to sell. Maybe they are the same, maybe not.
How do you decide? Using the internet you can look for information on how many people are searching for a particular term. Google provides a free keyword tool you can use to get a feel for the popularity of a keyword. And how many other people are trying to supply information or a service to those same people. It takes some familiarity with the tool to see it’s value but it and other tools like it can help you see who is searching for a particular term. If not many people search, then not many people want or need it. Try several keywords. Say you are interested in shoes. Try “men’s shoes” or “quality shoes” and look at the results in Google. All those people are supplying information or a product that relates to those keywords.
Assuming you see something people want or need, you have to decide if too many people are already selling a solution. If the field is too crowded, that makes it hard for you to compete. So the goal is to find a subject that gets 3000 to 5000 searches a month on Google and only has a handful of other websites that sell a product that would compete. Those websites can give you a lot of ideas on what products exist to meet that need.
John