A Newbie's Online Failure, Or How NOT To Make Money With Your Product From The Internet

When I first started out online I decided to choose a niche market. Or that's what I hoped to do. I had specialist knowledge in one specific area and I was keen to share it, for a modest price, naturally. With even a few hundred people a month buying my $17 e-book, that secure retirement income seemed within my reach.

And there were plenty of gurus out there and eager to tell me that the optimum way to make money online was to have my own product and be in charge of my own destiny. While that does have a certain truth to it, the downside is that all your eggs are in the one basket.

What they didn't tell me about was how challenging it would be for ME to produce and promote a professional looking program that could compete with the products already available. Yes, I could have out-sourced it, but that would have cost a lot of money and still left me at the 'mercy' of web-site-developers and others.

When I started working on my own product (an ebook on a particular topic) I soon awakened to the fact that although it was one huge task in its own right, developing a niche product was the simple part. Marketing it was the real challenge.

Undeterred I next set about learning about putting up and editing the web page, writing a blog, web 2.0, copy writing, article marketing and obtaining the traffic. I gave up before I reached the "design an affiliate program" stage. This was all part-time, alongside my day job. Whew!

But what had I missed out, in my enthusiasm? Deciding on a small enough niche in which to promote my product!

It had totally escaped my notice just how vast and competitive the Internet is, and particularly how many other extremely good products there are out there.

Although my product can compete for quality once people have actually purchased it, I will be the first one to confess that it cannot compete at the pre-sale stage.

It was a bitter pill to swallow even without having put hundreds of hours of hard slog into product development, studying the skills to get myself a website and a king's ransom into mentoring.

So if you are planning to start your on line career, spend plenty of time choosing your niche and don't overlook the products already in existence on the market.

Select a product where someone has already done the hard work of product development for you; use key phrase investigation and competition analysis tools to choose a small niche of a target market, where a sufficient number of people are enthusiastic about some element of the product; put something out to market, then, to increase your chances, rinse and repeat, probably in a completely different niche, to spread the risk of your chosen niche failing.

If your initial choice of product isn't an overnight success, or even if your first ten products generate only mediocre sales, at least you will have 10 niche products "on your books" and if each one makes just $50 a month, that gives you your first $500 per month from ten distinct niches.

There is plenty of free help available on how to find a niche product.

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