How to create profitable business ideas by Kenneth Koh from Leads Leap

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October 24, 2008 By Kenneth Koh
I think it is “timely” that we talk about how to create profitable business ideas for your online business.
Why is it timely? Here’s why…
On Wednesday, I released our brand new List Builder Script, free for all LeadsLeap members. Shortly after the release, I received many emails from members asking what are the business ideas that can be used with the script.
Now, technically speaking, the script can be used for any niche and any business idea. The only problem is some business ideas may be more profitable than the others.
So in today’s blog, I’ll show you how to create profitable business ideas.
First, you have to decide which niche market to focus on and whether the niche is profitable.
If I were to start another online business tomorrow, I will have to make sure that……
1) The market has an ongoing supply of new products that I can promote.
2) People’s interest in that niche do not change too quickly. For example, I will not use the List Builder Script to build a business around “spyware removal” because once I provide them with the solution, they are not likely to want to hear from me again.
3) People in the niche are always craving for more information.
4) There are many affiliates in the niche that I can contact and JV with.
5) There are established websites where I can find lots of people interested in the niche. This is to ensure that I can easily find targeted traffic for my new business, through advertising or striking deals with the webmasters.
Examples of good niches are internet marketing, stock trading, forex trading, body building, holistic health and personal improvement.
If I found a niche that I see a potential in, I will ask myself 2 questions.
1) Can I find/create a useful product to giveaway?2) Can I find/create a high value product to sell?
1) Can I find/create a useful product to giveaway?
In some niches, you can find some PLR products that you can give away. This is by far the fastest way to kick start your online business.
Another way is to create your own product, which may not be difficult at all.
The trick is to create something that is useful to the people in the niche.
Here is one idea that I just think off my head.
For example, You can create an ebook called “Online Scam Report - A complete list of scam (or near scam) programs you should avoid before you become the next victim”. Just go to Google.com and search for “scam”. You will be able to find websites discussing about different scam programs. Your job is to compile those programs into a book or if you are lazy, get a freelancer to do it.
2) Can I find/create a high value product to sell?
This is an important part in making sure that your business idea is profitable.
A profitable business idea should be able to help you generate immediate profit so as to fund your future expansion and cover your advertising costs.
This can easily be done with the One-Time-Offer feature in the free LeadsLeap List Builder Script and a powerful strategy that I’m going to share with you now.
The idea is to create a high value product worth thousands of dollars, write a sales letter that looks as if you are going to sell it for $197, and offer it for $9. This idea has never failed to work!
If you are in the internet marketing niche, the easiest way is to compile a huge package of PLR and MRR products that worth thousands of dollars.
Alternatively, you can create a high value product on your own.
For example, I’ve seen people giving away 1 website template and offer 10 website templates for $5 as a one time offer. This is a good and profitable business idea because website templates have high perceived values. At a great offer of $5, you bet a lot of people will bite.
Creating profitable business ideas is not rocket science. Once you can identify a profitable niche, all you have to do is to think of something useful to giveaway for list building purpose and something of high value to sell it cheap for immediate profit. Together with other backend sales, it is almost guaranteed that you’ll have a profitable business in both the short run and long run.

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