MY NAME is Jordan Phillips, and I’m the founder of bmoor.
And bmoor is a social enterprise whose mission is to drive the values of ownership and self-sufficiency within the black community.
And to help achieve this, we host a FREE online workshop every week. To help black entrepreneurs, with their online marketing efforts, to drive more customers & profits for their business. (You can book your FREE place here)
But with that aside, in this article, you’re going to discover a simple way to test whether your business idea will work and make you money.
All without you having to spend a penny on either website development or advertising. So, that way you’re able to safeguard two of your most important resources.
Your time, and your money.
And chances are, that if you’re reading this, you’ve most likely come up with a business idea that you would bet your life on would work.
But due to one reason or another it just didn’t go to plan.
Most likely however, it was because you overestimated the demand in the market for your goods and services. Or assumed (wrongly) that there was a market for your goods and services to begin with.
What do I mean by this?
Well, let’s first start off by defining what a market is, and why this is the most important step you need to take before starting your business.
So, a market is essentially a group of people who share common interests and desires.
Nothing more, nothing less.
And it’s your job to research your market so you know exactly what these interests and desires are.
So, you can then sell goods and services that will satisfy your market’s needs.
For example, if your market is comprised of fitness enthusiasts. You’d want to sell items relating to fitness.
If your market is comprised of rare stamp collectors. You’d want to sell items relating to rare stamps.
So on and so forth.
But sadly, a lot of entrepreneurs decide upon creating goods and services without knowing if there is demand for them beforehand.
And then once complete, struggle to find a market for these goods and services to get sold in.
Wasting both time and money in the process.
The trick is knowing exactly who wants your goods and service before you even create them. So that way you already have an established market you can directly sell to.
Because, at the end of the day. No one is going to buy something that they don’t want!
Selling something people do want, is hard enough already.
So why make it more difficult for yourself?
Ok, so I’ve explained the importance of knowing your market inside out before deciding what goods and services you want to sell.
How can I then know if my business idea will work without spending a penny? You ask.
Good question. And if you read my previous article then you might have a clue.
But to save you the mental effort, the answer as always, starts and ends with Google.
So, as you already know, Google is a search engine. A search engine by the way that registers almost five billion searches a day!
And as good as that is for people who want to satisfy their burning curiosities. It is also useful for people who want to promote their business and make money!
And for this specific group of people, Google has created something known as Google Ads.
What is this you ask?
Well Google Ads is a platform designed by Google themselves which allows businesses to promote themselves against search terms people are searching for.
For example, if you’re a plumbing business. You can get your ads to show whenever a phrase like “hire a plumber” is searched for by a potential customer.
And every time someone clicks these ads, Google gets paid.
But I hear you asking…
“How do I know if people are searching around my business in the first place?”
And the answer to that comes in the form of the “Google Keyword Planner”
The Google Keyword Planner is a very powerful tool. As it reveals the monthly searches for every word or phrase searched on Google worldwide.
And this is pivotal, because you’re able to see how many people search each month around keywords related to your business.
So, if you’re seeing people search in the tens of thousands each month around your business idea. You can be confident that there is a market both ready and hungry to consume your goods and services.
However, if on the other hand there’s only a few searches each month. Then this is a problem. Because it simply means that there aren’t enough people who care enough about your business idea to search for it.
Which is good news for you, because from just a few clicks, you can immediately know if a business idea is worth pursuing or not.
Without spending a penny.
And without having to go down the painful and expensive road of trial and error.
For more information on marketing and business strategy you can follow us on Instagram @bmoornetwork. Or email us on [email protected]