Sunday, March 18, 2007

To Get Rich, First You Must Commit

A lot has been written about selecting a niche, but it's the most consistent place people get hung up and fall down.

First off, if you're having trouble picking a niche, recognize and admit your phobia to commitment. You're not ADD - you're putting crap in your body and you're mentally driven by the lust for greener grass somewhere else.

It's weakness; "ADD" is nothing to wear proudly as some kind of badge of honor. Meet someone who proudly proclaims they're ADD and you've just met an info-crackhead.

NOTHING in life happens until you commit to something - and you're always committed to something so if you don't like your results then start looking at what you ARE committed
to and recognize you can make a new choice at any moment.

You're never stuck - commit - if it doesn't work, uncommit and find something else to commit to.

But you must COMMIT.

OK . . .

Some of this you've heard and some of this you haven't - and some of it probably has the unique twist you need to really make a difference.

Let's go -

1. Select a niche or a target market to focus on.

I distinguish niche from target market in this way; a niche is an area of interest, such as model cars, frisbee golf, plate collecting, or labrador dog owners.

A target market is a group of people who share similar traits and have common needs.

A target market will be larger, but less focused.

You will need to work on segmenting the target; for example, you may have 'homeowners', but people who own a ranch/farm have very different needs than people who own a
condominium (yet they also share some similarities).

I recommend Undercover Profits as a way of quickly finding and evaluating a niche or target market based on keyword profitability probabality - ie, if affiliates are successfully making money then it is a good place to explore further - if not, then you better have a high level of passion for the subject to make it work.

IMPORTANT NOTE: Just because affiliate's aren't making it work doesn't mean it can't work. Because most affiliate's are only focused on making a one-time sale on a low-cost front-end product, they can't afford to spend what a 'real business' can.

If affiliate's are making it work, then that means it's an 'easy money' market. If you start employing Black Book tactics, you can EASILY kick ass on the existing affiliates - put in a back-end of your own, and you can kick ass on ANYBODY.

OK . . .

You can also do this research by hand, though it's time consuming. Print out a spreadsheet and start recording, daily, which ads are showing consistently and in which position.

There's a good video demo of this here:
http://www.undercoverprofits.com/adwordsblackbook

This is basically how I've learned many of my innovative tactics over time - by doing searches on specific phrases day after day after day and watching what changes are occurring.

It's amazing to me how people will see a product in a market they know nothing about, write an ad, and hope for the best.

That's like going to the horse track once per year, placing a bet (when you know NOTHING about horses) and hoping you'll win.

Trust me, it doesn't work - and if it does it was a fluke; don't expect it to work consistently.

So go find something to commit to - by the way, to commit means to "cut off all other options".

Choose a path and stick with it long enough that you give yourself a SERIOUS opportunity to succeed.

X

5 Comments:

At 9:31 PM , Blogger surfan said...

Good one. So my arguments for ADD aren't gonna stand up here? Time to fish, I guess. Thanks for the kick to the seat, Mr. X!...

 
At 11:42 AM , Blogger X said...

No ADD excuses here!

I have been diagnosed ADD by a physician - so I cleaned up my diet, which cleaned up my head.

I have my own issues with focus, but I refuse to label myself with an affliction and use it as an excuse for being less than I can.

 
At 6:51 AM , Blogger Rian Brooklyn said...

X...
Enjoyed your interview on Xray Domination. Good stuff.

I'm not 100% sure, but doesnt Undercover Profits work similarly to project #6 in Keyword Elite? (watches ads, tells you who's an affiliate and how long they've been there)

Hope to hear you again on Xray Dom.
- Rian

 
At 8:51 PM , Blogger Doug said...

X:

I just would like to echo the question that Rian asked, above:

Doesn't Keyword Elite's Project #6 do roughly the same as Undercover Profits? Perhaps not as slickly, perhaps not as detailed of a finished report.. But doesn't it do pretty much the same thing--find profitable niches?

Thanks!
Doug

 
At 8:03 AM , Blogger X said...

No guys,

Keyword Elite does something similar, but not the same. I haven't used KE since it came out, but my understanding is you have to a. enter a list of keywords to track, then b. enter a specific URL to monitor.

There was software on the market about a year before KE came out that would do that.

With UCP you enter a list of keywords, and it tracks all ads appearing for that phrase over time - and it has some level of sophistication with indentifying which of those advertisers are affiliates.

I'm certain there will be a number of solutions on the market in the near future that perform similar functions to UCP - I've already been contacted by a programmer who has his own software he's been using for some time that does what UCP does with some functions I would want to see in UCP - like showing ad placement trending, which is far more useful than ad position is to me.

Hope that clears it up.

All the best to you - X

 

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