Day 2: Getting of Ideas

Main Message of Audio: Market research is IMPORTANT as highlighted yesterday. And stay away from ‘psycho markets’ like weight-loss, dog training, vitamins, supplements and internet marketing itself to name a few.

Try something small and make a success out of it to move to something BIG. The psycho markets will just cause the beginner marketer to lose motivation and focus. Either do something that you are passionate about or curious about. Curiosity is VITAL.

Main Lessons of Video 1 - eBay Pulse (pulse.ebay.com): Drill down to the sub-category that is interesting and where people are spending money on.

Main Lessons of Video 2 - Technorati (www.technorati.com): Check popular blogs like boing-boing to find potential ideas.

Main Lessons of Video 3 - Google Groups (groups.google.com): Check groups like Google Groups or Yahoo Groups to see what people are passionate about. In Google Groups, drill-down via level of activity and check out the high activity groups to generate ideas.

Main Lessons of Video 4 - Google Trends (www.google.com/trends): Check the top trends via different dates to identify potential markets.

Action Item: Use the information from the videos to identify the 7 potential markets. Another valuable source would be Yahoo Answers!