It’s important to check your facts before you get your heart set on any one business.
Once you’ve matched your skills with your audience and identified their pain points now you need to dig in and do some more research.
How Many People are In Your Target Audience?
- This is an important question to answer because if there aren’t enough people in your niche to be profitable then you may need to choose a different audience.
- If you need to earn 100K a year, you need to know how many people you need to sell to.
What Price Point Can Your Audience Afford?
- In addition to how many people are in your target audience you need to know how much they can afford to pay for your potential products and / or services.
- What is your offering worth to them and can they afford to buy them?
Can You Earn the Profit You Need?
- Based on the numbers can you become profitable?
- This is such a huge issue when starting any business.
You have to perform an analysis, called a S.W.O.T. analysis, which stands for strengths, weaknesses, opportunities and threats.
Don’t leave a stone unturned in your research to choose the right work at home business. You need to know the good and the bad of each choice that you make before you even get started with your work from home business.